UHS net income increases 59% in 2024

King of Prussia, Pa.-based Universal Health Services posted a net income of $1.1 billion in 2024, up from a net income of $717.8 million in 2023, according to its Feb. 26 financial report. 

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Seven things to know:

1. The for-profit system reported an operating income of $1.7 billion (10.6% operating margin) in 12 months ended Dec. 31, up from $1.2 billion (8.2% margin) in the same period in 2023,

2. The system posted net revenues of $15.8 billion in 2024, a 10.8% increase year over year. 

3. UHS reported total expenses of $14.1 billion, up 7.9% year over year. Salaries, wages and benefits increased 5.8% year over year to $7.5 billion. Supply expenses increased 3.6% to $1.6 billion. 

4. UHS’ acute care hospitals saw adjusted admissions increase 2.9% year over year, while adjusted patient days increased by 1.8%. Net revenue per adjusted admission increased by 5.1%, while net revenue per adjusted patient day increased by 6.3%. Net revenues generated from acute care services — on a same facility basis — increased 8.5%

5. UHS is projecting net revenue between $17 billion and $17.4 billion in 2025. 

6. The system expects to spend between $850 million and $1 billion on capital expenses in 2025. UHS spent $943.8 million in capital expenses in 2024 and $743 million in 2023. 

7. UHS operates 28 inpatient acute care hospitals, 331 inpatient behavioral health facilities, 60 outpatient facilities, an insurance offering, and a physician network in 39 states, Washington, D.C., the United Kingdom and Puerto Rico. 

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