UHS profit increases as patient volume grows: 5 things to know

King of Prussia, Pa.-based Universal Health Services reported net income of $151.9 million in the third quarter of 2016, up about 1 percent from $150.3 million in the same period of the year prior.

Here are five things to know about UHS' most-recent financial results.

1. The for-profit hospital operator said revenue increased 8.2 percent year over year to $2.4 billion in the third quarter of 2016. 

2. The financial boost was attributable, in part, to an increase in patient volume. When adjusted for outpatient activity, UHS said admissions were up 4.6 in the third quarter of 2016, as compared to same period of 2015.

3. During an earnings call Thursday, UHS Senior Vice President and CFO Steve G. Filton said emergency room visits were up between 4 percent and 5 percent and inpatient surgeries were up approximately 3 percent in the third quarter of 2016, compared to the third quarter of last year.

4. The hospital operator's acute care facilities provided more charity care and uninsured discounts in the third quarter of 2016 than in the same period of 2015, amounting to approximately $370 million and $322 million, respectively.

5. UHS reported operating income of $277.6 million in the third quarter of this year, up less than 1 percent from $275.2 million in the same period of the year prior.

More articles on healthcare finance:

5 hospitals with strong finances
22 recent hospital outlook and credit rating actions
4 hospital CFOs in the headlines

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months