Tenet Healthcare has released its first quarter results, reporting a net operating revenue of $2.5 billion — a 7 percent increase from its $2.34 billion revenue in the first quarter of 2010, according to a company news release.
The company saw a 17 percent decrease in net income, from $88 million Q1 2010 to $73 million Q1 2011, due to an increased income tax expense.
The company report also shared the following key financial results (with percentage changes reflecting Q1 2011 to Q1 2010):
• Admissions increased by .6 percent and adjusted admissions increased by 2.3 percent.
• Outpatient visits increased by 6.1 percent.
• Net operating revenues were $2.506 billion — an increase of 7.1 percent.
• Bad debt declined to $182 million from $189 million.
• Net cash used in operating services was $2 million compared to $22 million.
Read the company release on Tenet’s first quarter 2011 financial results (pdf).
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