LifePoint sees net income decline 19% in Q3

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Brentwood, Tenn.-based LifePoint Health saw revenues and net income attributable to the company decline in the third quarter of 2018.

LifePoint recorded revenues of $1.56 billion in the third quarter of 2018, down from $1.58 billion in the same period a year prior. The decline is partially due to LifePoint operating 68 hospitals in the third quarter of 2018 compared to 72 in the third quarter of 2017. On a same-hospital basis, revenues rose 2.1 percent year over year.

LifePoint saw the effects of lower admissions, inpatient surgeries and emergency room visits in the third quarter of 2018. Year over year, they declined 4.7 percent, 7.1 percent and 9.1 percent, respectively. On a same-hospital basis, inpatient surgeries and emergency room visits declined. But admissions rose slightly (0.1 percent) and outpatient surgeries were up 0.7 percent.

LifePoint's financials also factored in expenses and losses, including an impairment loss related to LifePoint's proposal to terminate its lease agreement with Teche Regional Medical Center in Morgan City, La., as well as expenses related to its planned sale to private equity firm Apollo Global Management.

After factoring in those expenses and losses, LifePoint ended the third quarter of 2018 with net income attributable to the company of $22.3 million, down 18.9 percent from $27.5 million in the third quarter of 2017.

 

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