HMA attributed the earnings loss to losses on the sale of Riley Hospital, located in Meridian, Miss. As a result, the hospital has been placed in discontinued operations and prior periods have been reclassified, according to the release.
When taking into account the reclassification, HMA’s revenues increased 14.1 percent to $1.35 billion, and income from continuing operations increased 26 percent to $46.4 million.
For the fourth quarter, same hospital net revenue increased 2.1 percent to $1.21 billion. Same hospital surgeries increased 5.2 percent, while same hospital admissions declined 3.1 percent, which the company attributed to declines in uninsured admissions and H1N1 flu cases. However, same hospital adjusted admissions increased 0.1 percent.
For the twelve months ended Dec. 31, 2010, HMA increased its consolidated net earnings by approximately 5 percent.
Read the release on HMA’s earnings.
Read more coverage on HMA:
– HMA to Sell Riley Hospital in Mississippi
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.
