Tenet experienced a decline in commercial managed care admissions, falling from 27 percent in the third quarter of 2008 to 25.8 percent this last quarter.
The company also reported losses of $5 million from discontinued operations, $3 million from litigation and investigation costs and $7 million from restructuring charges.
Nevertheless, the company raised its 2009 profit outlook by $25 million to $975 million, saying the adverse shift in payer mix should be offset by strong revenue flow, cost controls and robust outpatient business growth.
And while the recession has had an impact, Tenet said it “remains less than we would have expected in the context of rising unemployment levels in many of our markets.”
Read the release on Tenet’s third-quarter earnings (pdf).
