Tenet said uninsured admissions grew by 3.5 percent while paying admissions were flat and commercial managed care admissions fell by 4.1 percent.
However, due to a rise in the number of patients treated in the normally slow summer months and a decline in bad debt expense, the company projected a net-profit per share of four cents to eight cents, compared with a prior expectation of a loss of one to eight cents.
Forbes Magazine, poring over Tenet’s full quarterly report, found that Tenet projects 0.2 percent admissions growth this year, compared with a 1.7 percent increase in the third quarter of last year, and that the company may lose as much as $45 million in free cash flow this year, after factoring in capital expenses.
Read the release on the Tenet quarterly report (pdf).
