EX-99.1 2 dex991.htm UNIVERSAL HEALTH SERVICES, INC., PRESS RELEASE Universal Health Services, Inc., Press Release

Exhibit 99.1

FOR IMMEDIATE RELEASE

 

CONTACT:    Steve Filton   
   Chief Financial Officer    July 26, 2010
   610-768-3300   

UNIVERSAL HEALTH SERVICES, INC. REPORTS

2010 SECOND QUARTER FINANCIAL RESULTS

Consolidated Results of Operations - Three-month periods ended June 30, 2010 and 2009:

KING OF PRUSSIA, PA – Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $65.6 million, or $.67 per diluted share, during the second quarter of 2010 as compared to $80.9 million, or $.82 per diluted share, during the comparable prior year quarter. Net revenues increased 3% to $1.34 billion during the second quarter of 2010 as compared to $1.30 billion during the second quarter of 2009.

After adjusting the reported results for the second quarters of 2010 and 2009 to neutralize the impact of the below-mentioned adjustments, our adjusted net income attributable to UHS was $66.7 million, or $.68 per diluted share, during the second quarter of 2010 as compared to $71.1 million, or $.72 per diluted share, during the second quarter of 2009.

As indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedules”), included in our net income attributable to UHS during the three and six-month periods ended June 30, 2010, was a net loss of $1.1 million, or $.01 per diluted share, consisting of: (i) a favorable after-tax adjustment of $10.2 million, or $.10 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2010 based upon a reserve analysis, offset by; (ii) the unfavorable after-tax impact of $11.3 million, or $.11 per diluted share, resulting from the recording of transaction fees incurred in connection with our previously announced agreement to acquire Psychiatric Solutions, Inc.

As indicated on the attached Supplemental Schedules, included in our net income attributable to UHS during the three and six-month periods ended June 30, 2009, was net income of $9.8 million, or $.10 per diluted share, consisting of: (i) a favorable after-tax adjustment of $14.1 million, or $.14 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2009 based upon a reserve analysis, partially offset by; (ii) an unfavorable discrete tax item of $4.3 million, or $.04 per diluted share.


Consolidated Results of Operations - Six-month periods ended June 30, 2010 and 2009:

During the six-month period ended June 30, 2010, our reported net income attributable to UHS was $137.4 million, or $1.40 per diluted share, as compared to $148.4 million, or $1.50 per diluted share, during the comparable prior year period. Net revenues increased 3% to $2.69 billion during the first six months of 2010 as compared to $2.62 billion during the first six months of 2009.

After adjusting the reported results for six-month periods ended June 30, 2010 and 2009 to neutralize the impact of the above-mentioned adjustments, our adjusted net income attributable to UHS was $138.5 million, or $1.41 per diluted share, during the first six months of 2010 as compared to $138.6 million, or $1.40 per diluted share, during the first six months of 2009.

Acute Care Services - Three-month periods ended June 30, 2010 and 2009:

At our acute care hospitals owned during both periods (“same facility basis”), adjusted admissions (adjusted for outpatient activity) increased 1.9% while adjusted patient days increased 0.3% during the second quarter of 2010, as compared to the second quarter of 2009. Net revenues at these facilities increased 2.2% during the second quarter of 2010 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission during the second quarter of 2010 increased 0.3% while net revenue per adjusted patient day increased 1.9% as compared to the comparable quarter of the prior year. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our acute care hospitals decreased to 14.2% during the second quarter of 2010 as compared to 16.9% during the second quarter of 2009.

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $190 million and $181 million during the three-month periods ended June 30, 2010 and 2009, respectively.

Acute Care Services - Six-month periods ended June 30, 2010 and 2009:

During the six-month period ended June 30, 2010, on a same facility basis, adjusted admissions increased 1.8% while adjusted patient days increased 0.5% over the comparable prior year period. Net revenues at these facilities increased 2.6% during the second quarter of 2010 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission increased 0.8% while net revenue per adjusted patient day increased 2.2% during the second quarter of 2010 as compared to the comparable quarter of the prior year. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our acute care hospitals decreased to 15.2% during the second quarter of 2010 as compared to 17.2% during the second quarter of 2009.

Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $366 million and $340 million during the six-month periods ended June 30, 2010 and 2009, respectively.


Behavioral Health Care Services - Three-month periods ended June 30, 2010 and 2009:

At our behavioral health care facilities, on a same facility basis, adjusted admissions increased 4.7% and adjusted patient days increased 2.4% during the second quarter of 2010 as compared to the second quarter of 2009. Net revenues at these facilities increased 5.5% during the second quarter of 2010 as compared to the comparable quarter in the prior year. At these facilities, net revenue per adjusted admission during the second quarter of 2010 increased 0.1% while net revenue per adjusted patient day increased 2.3% as compared to the comparable prior year quarter. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our behavioral health care facilities increased to 27.9% during the second quarter of 2010 as compared to 25.9% during the second quarter of 2009.

Behavioral Health Care Services - Six-month periods ended June 30, 2010 and 2009:

During the six-month period ended June 30, 2010, on a same facility basis, adjusted admissions increased 4.2% and adjusted patient days increased 3.1% during the first six months of 2010 as compared to the comparable period of 2009. Net revenues at these facilities increased 6.1% during the first six months of 2010 as compared to the comparable prior year period. At these facilities, net revenue per adjusted admission increased 1.4% while net revenue per adjusted patient day increased 2.5% during the first six months of 2010 over the comparable prior year period. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our behavioral health care facilities increased to 27.0% during the first six months of 2010 as compared to 25.2% during the comparable period of 2009.

Dividends Declared:

On July 21, 2010, our Board of Directors approved a cash dividend of $0.05 per share payable on September 15, 2010 to shareholders of record as of September 1, 2010.

Conference Call Information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on July 27, 2010. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on July 27, 2010 and will continue through midnight on August 10, 2010. The recording can be accessed by calling 1-800-642-1687 and entering the conference ID number 88336222. A live broadcast of the call will be available on our web site at www.uhsinc.com. The webcast will be available through Thompson StreetEvents Network at www.earnings.com or www.streetevents.com, a password-protected event management site for institutional investors.

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. (“UHS”) is one of the nation’s largest hospital companies operating, through its subsidiaries, acute care hospitals, behavioral healthcare facilities and ambulatory centers located throughout the United States and Puerto Rico. UHS acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.


This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2009 and in Item 2-Forward Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended March 31, 2010), may cause the results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management’s view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

We believe that operating income, operating margin, adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share and earnings before interest, taxes, depreciation and amortization (“EBITDA”), which are non-GAAP financial measures (“GAAP” is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of items that are nonrecurring or non-operational in nature including items such as, but not limited to, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2009 and Report on Form 10-Q for the quarterly period ended March 31, 2010. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.

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Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)

 

     Three months
ended June 30,
   Six months
ended June 30,
     2010    2009    2010    2009

Net revenues

   $ 1,338,315    $ 1,303,640    $ 2,685,468    $ 2,616,059

Operating charges:

           

Salaries, wages and benefits

     563,552      541,950      1,142,478      1,083,247

Other operating expenses

     249,114      232,894      496,142      506,115

Supplies expense

     179,926      176,411      363,742      350,378

Provision for doubtful accounts

     143,764      120,670      269,154      239,648

Depreciation and amortization

     54,025      51,085      107,536      102,219

Lease and rental expense

     18,185      17,587      36,119      34,659
                           
     1,208,566      1,140,597      2,415,171      2,316,266
                           

Income from operations

     129,749      163,043      270,297      299,793

Interest expense, net

     12,277      11,879      24,654      24,517
                           

Income before income taxes

     117,472      151,164      245,643      275,276

Provision for income taxes

     41,057      57,187      86,466      99,265
                           

Net income

     76,415      93,977      159,177      176,011

Less: Income attributable tononcontrolling interests

     10,843      13,084      21,786      27,577
                           

Net income attributable to UHS

   $ 65,572    $ 80,893    $ 137,391    $ 148,434
                           

Basic earnings per share attributable to UHS (a)

   $ 0.68    $ 0.82    $ 1.42    $ 1.51
                           

Diluted earnings per share attributable to UHS (a)

   $ 0.67    $ 0.82    $ 1.40    $ 1.50
                           


Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)

 

     Three months
ended June 30,
    Six months
ended June 30,
 
     2010     2009     2010     2009  
(a) Earnings per share calculation:         

Basic and diluted:

        

Net income attributable to UHS

   $ 65,572      $ 80,893      $ 137,391      $ 148,434   

Less: Net income attributable to unvested restricted share grants

     (278     (381     (593     (695
                                

Net income attributable to UHS - basic and diluted

   $ 65,294      $ 80,512      $ 136,798      $ 147,739   
                                

Weighted average number of common shares - basic

     96,703        97,700        96,621        98,056   
                                

Basic earnings per share attributable to UHS:

   $ 0.68      $ 0.82      $ 1.42      $ 1.51   
                                

Weighted average number of common shares

     96,703        97,700        96,621        98,056   

Add: Other share equivalents

     1,351        404        1,131        202   
                                

Weighted average number of common shares and equiv. - diluted

     98,054        98,104        97,752        98,258   
                                

Diluted earnings per share attributable to UHS:

   $ 0.67      $ 0.82      $ 1.40      $ 1.50   
                                


Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”)

For the three months ended June 30, 2010 and 2009

(in thousands, except per share amounts)

(unaudited)

 

     Three months ended     Three months ended  
     June 30, 2010     June 30, 2009  

Net revenues

   $ 1,338,315        100.0   $ 1,303,640        100.0

Operating charges:

        

Salaries, wages and benefits

     563,552        42.1     541,950        41.6

Other operating expenses

     249,114        18.6     232,894        17.9

Supplies expense

     179,926        13.4     176,411        13.5

Provision for doubtful accounts

     143,764        10.7     120,670        9.3
                                
     1,136,356        84.9     1,071,925        82.2
                                

Operating income/margin

     201,959        15.1     231,715        17.8

Lease and rental expense

     18,185          17,587     

Income attributable to noncontrolling interests

     10,843          13,084     
                    

Earnings before, depreciation and amortization, interest expense, and income taxes

     172,931          201,044     

Depreciation and amortization

     54,025          51,085     

Interest expense, net

     12,277          11,879     
                    

Income before income taxes

     106,629          138,080     

Provision for income taxes

     41,057          57,187     
                    

Net income attributable to UHS

   $ 65,572        $ 80,893     
                    
     Three months ended     Three months ended  
     June 30, 2010     June 30, 2009  
     Amount     Per
Diluted Share
    Amount     Per
Diluted Share
 
Calculation of Adjusted Net Income Attributable to UHS         

Net income attributable to UHS

   $ 65,572      $ 0.67      $ 80,893      $ 0.82   

Plus/minus adjustments:

        

Reduction of reserves relating to prior years for professional and general liability self-insured claims, net of income taxes

     (10,198     (0.10     (14,168     (0.14

Acquistion transaction costs, net of income taxes

     11,288        0.11        —          —     

Unfavorable discrete tax item

     —          —          4,331        0.04   
                                

Subtotal after-tax adjustments to net income attributable to UHS

     1,090        0.01        (9,837     (0.10
                                

Adjusted net income attributable to UHS

   $ 66,662      $ 0.68      $ 71,056      $ 0.72   
                                


Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”)

For the six months ended June 30, 2010 and 2009

(in thousands, except per share amounts)

(unaudited)

 

     Six months ended
June 30, 2010
    Six months ended
June 30, 2009
 

Net revenues

   $ 2,685,468        100.0   $ 2,616,059        100.0

Operating charges:

        

Salaries, wages and benefits

     1,142,478        42.5     1,083,247        41.4

Other operating expenses

     496,142        18.5     506,115        19.3

Supplies expense

     363,742        13.5     350,378        13.4

Provision for doubtful accounts

     269,154        10.0     239,648        9.2
                                
     2,271,516        84.6     2,179,388        83.3
                                

Operating income/margin

     413,952        15.4     436,671        16.7

Lease and rental expense

     36,119          34,659     

Income attributable to noncontrolling interests

     21,786          27,577     
                    

Earnings before, depreciation and amortization, interest expense, and income taxes

     356,047          374,435     

Depreciation and amortization

     107,536          102,219     

Interest expense, net

     24,654          24,517     
                    

Income before income taxes

     223,857          247,699     

Provision for income taxes

     86,466          99,265     
                    

Net income attributable to UHS

   $ 137,391        $ 148,434     
                    
     Six months ended
June 30, 2010
    Six months ended
June 30, 2009
 
     Amount     Per
Diluted Share
    Amount     Per
Diluted Share
 
Calculation of Adjusted Net Income Attributable to UHS         

Net income attributable to UHS

   $ 137,391      $ 1.40      $ 148,434      $ 1.50   

Plus/minus adjustments:

        

Reduction of reserves relating to prior years for professional and general liability self-insured claims, net of income taxes

     (10,198     (0.10     (14,168     (0.14

Acquistion transaction costs, net of income taxes

     11,288        0.11        —          —     

Unfavorable discrete tax item

     —          —          4,331        0.04   
                                

Subtotal after-tax adjustments to net income attributable to UHS

     1,090        0.01        (9,837     (0.10
                                

Adjusted net income attributable to UHS

   $ 138,481      $ 1.41      $ 138,597      $ 1.40   
                                

 


Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands, unaudited)

 

     June 30,
2010
    As revised (a)
December 31,
2009
 

Assets

    

Current assets:

    

Cash and cash equivalents

   $ 12,337      $ 9,180   

Accounts receivable, net

     618,855        602,559   

Supplies

     84,683        84,272   

Other current assets

     38,985        27,270   

Deferred income taxes

     51,109        51,336   

Current assets held for sale

     16,250        21,580   
                

Total current assets

     822,219        796,197   
                

Property and equipment

     3,818,209        3,738,818   

Less: accumulated depreciation

     (1,510,592     (1,423,580
                
     2,307,617        2,315,238   
                

Other assets:

    

Goodwill

     732,754        732,685   

Deferred charges

     8,864        8,643   

Other

     118,303        111,700   
                
   $ 3,989,757      $ 3,964,463   
                

Liabilities and Stockholders’ Equity

    

Current liabilities:

    

Current maturities of long-term debt

   $ 2,032      $ 2,573   

Accounts payable and accrued liabilities

     552,794        578,617   

Federal and state taxes

     3,298        1,627   
                

Total current liabilities

     558,124        582,817   
                

Other noncurrent liabilities

     346,310        375,580   

Long-term debt

     881,344        956,429   

Deferred income taxes

     68,386        60,091   

Redeemable noncontrolling interest

     205,463        197,152   

UHS common stockholders’ equity

     1,887,365        1,751,071   

Noncontrolling interest

     42,765        41,323   
                

Total equity

     1,930,130        1,792,394   
                
   $ 3,989,757      $ 3,964,463   
                

 

(a) We have revised our Condensed Consolidated Balance Sheet at December 31, 2009 to reclassify $197.2 million of noncontrolling interests, which are redeemable outside of our control, from total equity to mezzanine equity. This revision did not affect UHS’s common stockholders’ equity. We do not believe this revision is material to the Condensed Consolidated Balance Sheet at December 31, 2009.


Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

     Six months
ended June 30,
 
     2010     2009  

Cash Flows from Operating Activities:

    

Net income

   $ 159,177      $ 176,011   

Adjustments to reconcile net income to net cash provided by operating activities:

    

Depreciation & amortization

     107,536        102,219   

Net gain on sale of assets and noncontrolling interests

     (1,993     0   

Stock-based compensation expense

     8,327        6,602   

Changes in assets & liabilities, net of effects from acquisitions and dispositions:

    

Accounts receivable

     (16,523     4,392   

Construction management and other receivable

     0        21,003   

Accrued interest

     (1,757     106   

Accrued and deferred income taxes

     3,946        7,934   

Other working capital accounts

     (15,753     (1,499

Other assets and deferred charges

     (6,870     3,844   

Other

     (4,513     (3,273

Accrued insurance expense, net of commercial premiums paid

     15,491        13,323   

Payments made in settlement of self-insurance claims

     (27,698     (29,823
                

Net cash provided by operating activities

     219,370        300,839   
                

Cash Flows from Investing Activities:

    

Property and equipment additions, net of disposals

     (121,640     (183,248

Proceeds received from sale of assets

     5,000        0   

Acquisition of property and business

     0        (9,006
                

Net cash used in investing activities

     (116,640     (192,254
                

Cash Flows from Financing Activities:

    

Reduction of long-term debt

     (77,974     (77,356

Additional borrowings

     0        170   

Repurchase of common shares

     (3,703     (15,437

Dividends paid

     (9,693     (7,890

Issuance of common stock

     3,833        1,350   

Profit distributions to noncontrolling interests

     (12,336     (4,259

Proceeds from sale of noncontrolling interest in majority owned business

     300        0   
                

Net cash used in financing activities

     (99,573     (103,422
                

Increase in cash and cash equivalents

     3,157        5,163   

Cash and cash equivalents, beginning of period

     9,180        5,460   
                

Cash and cash equivalents, end of period

   $ 12,337      $ 10,623   
                

Supplemental Disclosures of Cash Flow Information:

    

Interest paid

   $ 29,783      $ 28,723   
                

Income taxes paid, net of refunds

   $ 79,943      $ 90,942   
                


Universal Health Services, Inc.

Supplemental Statistical Information

(un-audited)

Same Facility:

 

     % Change
Quarter Ended
6/30/2010
    % Change
6 months ended
6/30/2010
 
Acute Care Hospitals     

Revenues

   2.2   2.6

Adjusted Admissions

   1.9   1.8

Adjusted Patient Days

   0.3   0.5

Revenue Per Adjusted Admission

   0.3   0.8

Revenue Per Adjusted Patient Day

   1.9   2.2
Behavioral Health Hospitals     

Revenues

   5.5   6.1

Adjusted Admissions

   4.7   4.2

Adjusted Patient Days

   2.4   3.1

Revenue Per Adjusted Admission

   0.1   1.4

Revenue Per Adjusted Patient Day

   2.3   2.5

UHS Consolidated

 

    Second Quarter Ended     Six months Ended  
    6/30/2010     6/30/2009     6/30/2010     6/30/2009  

Revenues

  $ 1,338,315      $ 1,303,640      $ 2,685,468      $ 2,616,059   

EBITDA (1)

    174,021        186,876        357,137        360,267   

EBITDA Margin (1)

    13.0     14.3     13.3     13.8

Cash Flow From Operations

    83,363        148,585        219,370        300,839   

Days Sales Outstanding

    42        42        42        41   

Capital Expenditures

    59,064        105,029        121,640        183,248   

Debt

        883,376        921,878   

UHS Shareholders Equity

        1,877,365        1,677,996   

Debt / Total Capitalization

        32.0     35.5

Debt / EBITDA (2)

        1.30        1.50   

Debt / Cash From Operations (2)

        1.96        1.55   

Acute Care EBITDAR Margin (3)

    14.2     16.9     15.2     17.2

Behavioral Health EBITDAR Margin (3)

    27.8     26.5     26.7     25.4

 

(1) Net of Minority Interest and before prior year self insurance reserve adjustments (net of taxes) booked in 2010 and 2009 and transaction related expenses (net of taxes) booked in 2010
(2) Latest 4 quarters
(3) Before Corporate overhead allocation, minority interest and prior year self insurance reserve adjustment booked in 2010 and 2009


UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

JUNE 30, 2010

AS REPORTED:

 

     ACUTE     BEHAVIORAL HEALTH  
     06/30/10     06/30/09     % change     06/30/10     06/30/09     % change  

Hospitals owned and leased

     21        21      0.0     82        81      1.2

Average licensed beds

     5,689        5,465      4.1     7,980        7,857      1.6

Patient days

     286,230        289,644      -1.2     544,629        529,536      2.9

Average daily census

     3,145.4        3,182.9      -1.2     5,984.9        5,819.1      2.9

Occupancy-licensed beds

     55.3     58.2   -5.1     75.0     74.1   1.3

Admissions

     66,208        65,946      0.4     36,573        34,059      7.4

Length of stay

     4.3        4.4      -1.6     14.9        15.5      -4.2

Inpatient revenue

   $ 2,624,502      $ 2,469,774      6.3   $ 554,141      $ 524,246      5.7

Outpatient revenue

     1,171,634        1,047,095      11.9     81,987        72,513      13.1

Total patient revenue

     3,796,136        3,516,869      7.9     636,128        596,759      6.6

Other revenue

     19,187        19,102      0.4     7,224        8,342      -13.4

Gross hospital revenue

     3,815,323        3,535,971      7.9     643,352        605,101      6.3

Total deductions

     2,841,313        2,583,135      10.0     286,344        272,512      5.1

Net hospital revenue

   $ 974,010      $ 952,836      2.2   $ 357,008      $ 332,589      7.3

SAME FACILITY:

 

  

     ACUTE     BEHAVIORAL HEALTH (1)  
     06/30/10     06/30/09     % change     06/30/10     06/30/09     % change  

Hospitals owned and leased

     21        21      0.0     79        79      0.0

Average licensed beds

     5,689        5,465      4.1     7,778        7,705      0.9

Patient days

     286,230        289,644      -1.2     537,746        526,672      2.1

Average daily census

     3,145.4        3,182.9      -1.2     5,909.3        5,787.6      2.1

Occupancy-licensed beds

     55.3     58.2   -5.1     76.0     75.1   1.1

Admissions

     66,208        65,946      0.4     35,524        34,042      4.4

Length of stay

     4.3        4.4      -1.6     15.1        15.5      -2.2

 

(1) Ascent, Centennial Peaks, Crescent Pines, The Hope program, and Springwoods Behavioral are excluded in both current and prior years. Coastal Behavorial is included in March 1st thru year to date.


UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE SIX MONTHS ENDED

JUNE 30, 2010

AS REPORTED:

 

     ACUTE     BEHAVIORAL HEALTH  
     06/30/10     06/30/09     % change     06/30/10     06/30/09     % change  

Hospitals owned and leased

     21        21      0.0     83        83      0.0

Average licensed beds

     5,689        5,465      4.1     7,975        7,826      1.9

Patient days

     591,924        596,920      -0.8     1,083,379        1,042,470      3.9

Average daily census

     3,270.3        3,297.9      -0.8     5,952.6        5,727.9      3.9

Occupancy-licensed beds

     57.5     60.3   -4.7     74.6     73.2   2.0

Admissions

     134,846        134,144      0.5     72,930        68,020      7.2

Length of stay

     4.4        4.4      -1.4     14.9        15.3      -3.1

Inpatient revenue

   $ 5,407,933      $ 5,049,913      7.1   $ 1,098,922      $ 1,027,927      6.9

Outpatient revenue

     2,288,559        2,042,794      12.0     159,964        140,641      13.7

Total patient revenue

     7,696,492        7,092,707      8.5     1,258,886        1,168,568      7.7

Other revenue

     34,990        36,777      -4.9     15,632        16,251      -3.8

Gross hospital revenue

     7,731,482        7,129,484      8.4     1,274,518        1,184,819      7.6

Total deductions

     5,768,161        5,216,799      10.6     568,328        530,077      7.2

Net hospital revenue

   $ 1,963,321      $ 1,912,685      2.6   $ 706,190      $ 654,742      7.9

SAME FACILITY:

 

  

     ACUTE     BEHAVIORAL HEALTH (1)  
     06/30/10     06/30/09     % change     06/30/10     06/30/09     % change  

Hospitals owned and leased

     21        21      0.0     79        79      0.0

Average licensed beds

     5,689        5,465      4.1     7,757        7,674      1.1

Patient days

     591,924        596,920      -0.8     1,068,443        1,036,334      3.1

Average daily census

     3,270.3        3,297.9      -0.8     5,903.0        5,725.6      3.1

Occupancy-licensed beds

     57.5     60.3   -4.7     76.1     74.6   2.0

Admissions

     134,846        134,144      0.5     70,819        67,979      4.2

Length of stay

     4.4        4.4      -1.4     15.1        15.2      -1.0

 

(1) Ascent, Centennial Peaks, Crescent Pines, The Hope program, and Springwoods Behavioral are excluded in both current and prior years. Coastal Behavorial is included in March 1st thru year to date.