Delaware | 27-3865930 | |||
(State or other jurisdiction | 001-11239 | (IRS Employer | ||
of incorporation) | (Commission File Number) | Identification No.) |
One Park Plaza, Nashville, Tennessee | 37203 | |
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Exhibit | ||
Number | Exhibit | |
99.1
|
Press Release, dated July 25, 2011. |
3
HCA HOLDINGS, INC. |
||||
By: | /s/ R. Milton Johnson | |||
R. Milton Johnson | ||||
President and Chief Financial Officer | ||||
Exhibit | ||
Number | Exhibit | |
99.1
|
Press Release, dated July 25, 2011. |
FOR IMMEDIATE RELEASE | ||
INVESTOR CONTACT:
|
MEDIA CONTACT: | |
Mark Kimbrough
|
Ed Fishbough | |
615-344-2688
|
615-344-2810 |
| Revenues increased 4 percent to $8.063 billion; cash revenues increased 4.6 percent to $7.288 billion | ||
| Net income attributable to HCA Holdings, Inc. totaled $229 million, or $0.43 per diluted share, which includes a pre-tax loss on retirement of debt of $75 million, or $0.08 per diluted share | ||
| Adjusted EBITDA declined 4.7 percent to $1.420 billion | ||
| Cash flows from operations increased 71.6 percent to $748 million | ||
| Cash revenue per equivalent admission increased 1.1 percent | ||
| Same facility equivalent admissions increased 1.9 percent while same facility admissions increased 1.8 percent |
1
2
3
4
2011 | 2010 | |||||||||||||||
Amount | Ratio | Amount | Ratio | |||||||||||||
Revenues |
$ | 8,063 | 100.0 | % | $ | 7,756 | 100.0 | % | ||||||||
Salaries and benefits |
3,320 | 41.2 | 3,076 | 39.6 | ||||||||||||
Supplies |
1,295 | 16.1 | 1,251 | 16.1 | ||||||||||||
Other operating expenses |
1,326 | 16.4 | 1,226 | 15.9 | ||||||||||||
Provision for doubtful accounts |
775 | 9.6 | 788 | 10.2 | ||||||||||||
Equity in earnings of affiliates |
(73 | ) | (0.9 | ) | (75 | ) | (1.0 | ) | ||||||||
Depreciation and amortization |
358 | 4.5 | 355 | 4.6 | ||||||||||||
Interest expense |
520 | 6.4 | 530 | 6.8 | ||||||||||||
Impairments of long-lived assets |
| | 91 | 1.2 | ||||||||||||
Loss on retirement of debt |
75 | 0.9 | | | ||||||||||||
7,596 | 94.2 | 7,242 | 93.4 | |||||||||||||
Income before income taxes |
467 | 5.8 | 514 | 6.6 | ||||||||||||
Provision for income taxes |
147 | 1.8 | 136 | 1.7 | ||||||||||||
Net income |
320 | 4.0 | 378 | 4.9 | ||||||||||||
Net income attributable to noncontrolling interests |
91 | 1.2 | 85 | 1.1 | ||||||||||||
Net income attributable to HCA Holdings, Inc. |
$ | 229 | 2.8 | $ | 293 | 3.8 | ||||||||||
Diluted earnings per share |
$ | 0.43 | $ | 0.67 | ||||||||||||
Shares used in computing diluted earnings per share (000) |
538,557 | 437,104 |
5
2011 | 2010 | |||||||||||||||
Amount | Ratio | Amount | Ratio | |||||||||||||
Revenues |
$ | 16,118 | 100.0 | % | $ | 15,300 | 100.0 | % | ||||||||
Salaries and benefits |
6,615 | 41.0 | 6,148 | 40.2 | ||||||||||||
Supplies |
2,570 | 15.9 | 2,451 | 16.0 | ||||||||||||
Other operating expenses |
2,648 | 16.5 | 2,428 | 15.9 | ||||||||||||
Provision for doubtful accounts |
1,424 | 8.8 | 1,352 | 8.8 | ||||||||||||
Equity in earnings of affiliates |
(149 | ) | (0.9 | ) | (143 | ) | (0.9 | ) | ||||||||
Depreciation and amortization |
716 | 4.5 | 710 | 4.7 | ||||||||||||
Interest expense |
1,053 | 6.5 | 1,046 | 6.8 | ||||||||||||
Losses on sales of facilities |
1 | | | | ||||||||||||
Impairments of long-lived assets |
| | 109 | 0.7 | ||||||||||||
Loss on retirement of debt |
75 | 0.5 | | | ||||||||||||
Termination of management agreement |
181 | 1.1 | | | ||||||||||||
15,134 | 93.9 | 14,101 | 92.2 | |||||||||||||
Income before income taxes |
984 | 6.1 | 1,199 | 7.8 | ||||||||||||
Provision for income taxes |
330 | 2.0 | 345 | 2.2 | ||||||||||||
Net income |
654 | 4.1 | 854 | 5.6 | ||||||||||||
Net income attributable to noncontrolling interests |
185 | 1.2 | 173 | 1.1 | ||||||||||||
Net income attributable to HCA Holdings, Inc. |
$ | 469 | 2.9 | $ | 681 | 4.5 | ||||||||||
Diluted earnings per share |
$ | 0.94 | $ | 1.56 | ||||||||||||
Shares used in computing diluted earnings per share (000) |
500,463 | 436,392 |
6
For the Six Months | ||||||||||||||||
Second Quarter | Ended June 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Revenues |
$ | 8,063 | $ | 7,756 | $ | 16,118 | $ | 15,300 | ||||||||
Net income attributable to HCA Holdings, Inc. |
$ | 229 | $ | 293 | $ | 469 | $ | 681 | ||||||||
Losses on sales of facilities (net of tax) |
1 | | 3 | | ||||||||||||
Impairments of long-lived assets (net of tax) |
| 57 | | 69 | ||||||||||||
Loss on retirement of debt (net of tax) |
47 | | 47 | | ||||||||||||
Termination of management agreement (net of tax) |
| | 149 | | ||||||||||||
Net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets,
loss on retirement of debt and termination of management agreement (a) |
277 | 350 | 668 | 750 | ||||||||||||
Depreciation and amortization |
358 | 355 | 716 | 710 | ||||||||||||
Interest expense |
520 | 530 | 1,053 | 1,046 | ||||||||||||
Provision for income taxes |
174 | 170 | 388 | 385 | ||||||||||||
Net income attributable to noncontrolling interests |
91 | 85 | 185 | 173 | ||||||||||||
Adjusted EBITDA (a) |
$ | 1,420 | $ | 1,490 | $ | 3,010 | $ | 3,064 | ||||||||
Diluted earnings per share: |
||||||||||||||||
Net income attributable to HCA Holdings, Inc. |
$ | 0.43 | $ | 0.67 | $ | 0.94 | $ | 1.56 | ||||||||
Losses on sales of facilities |
| | 0.01 | | ||||||||||||
Impairments of long-lived assets |
| 0.13 | | 0.16 | ||||||||||||
Loss on retirement of debt |
0.08 | | 0.09 | | ||||||||||||
Termination of management agreement |
| | 0.30 | | ||||||||||||
Net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived
assets, loss on retirement of debt and termination of management agreement (a) |
$ | 0.51 | $ | 0.80 | $ | 1.34 | $ | 1.72 | ||||||||
Shares used in computing diluted earnings per share (000) |
538,557 | 437,104 | 500,463 | 436,392 |
(a) | Net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets, loss on retirement of debt and termination of management agreement and Adjusted EBITDA should not be considered as measures of financial performance under generally accepted accounting principles (GAAP). We believe net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets, loss on retirement of debt and termination of management agreement and Adjusted EBITDA are important measures that supplement discussions and analysis of our results of operations. We believe it is useful to investors to provide disclosures of our results of operations on the same basis used by management. Management relies upon net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets, loss on retirement of debt and termination of management agreement and Adjusted EBITDA as the primary measures to review and assess operating performance of its hospital facilities and their management teams. | |
Management and investors review both the overall performance (including; net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets, loss on retirment of debt and termination of management agreement and GAAP net income attributable to HCA Holdings, Inc.) and operating performance (Adjusted EBITDA) of our health care facilities. Adjusted EBITDA and the Adjusted EBITDA margin (Adjusted EBITDA divided by revenues) are utilized by managment and investors to compare our current operating results with the corresponding periods during the previous year and to compare our operating results with other companies in the health care industry. It is reasonable to expect that losses on sales of facilities, impairments of long-lived assets and loss on retirement of debt will occur in future periods, but the amounts recognized can vary significantly from period to period, do not directly relate to the ongoing operations of our health care facilities and complicate period comparisons of our results of operations and operations comparisons with other health care companies. | ||
Net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets, loss on retirement of debt and termination of management agreement and Adjusted EBITDA are not measures of financial performance under accounting principles generally accepted in the United States, and should not be considered as alternatives to net income attriubtable to HCA Holdings, Inc. as a measure of operating performance or cash flows from operating, investing and financing activities as a measure of liquidity. Because net income attributable to HCA Holdings, Inc., excluding losses on sales of facilities, impairments of long-lived assets, loss on retirement of debt and termination of management agreeement and Adjusted EBITDA are not measurements determined in accordance with generally accepted accounting principles and are susceptible to varying calculations, net income attributable to HCA Holdings, Inc., exlcuding losses on sales of facilities, impairments of long-lived assets, loss on retirement of debt and termination of management agreement and Adjusted EBITDA, as presented, may not be comparable to other similiarly titled measures presented by other companies. |
7
2011 | 2010 | |||||||||||||||||||||||
Non-GAAP | Non-GAAP | |||||||||||||||||||||||
% of Cash | GAAP % of | % of Cash | GAAP % of | |||||||||||||||||||||
Revenues | Revenues | Revenues | Revenues | |||||||||||||||||||||
Amount | Ratios (b) | Ratios (b) | Amount | Ratios (b) | Ratios (b) | |||||||||||||||||||
Revenues |
$ | 8,063 | 100.0 | $ | 7,756 | 100.0 | ||||||||||||||||||
Provision for doubtful accounts |
775 | 788 | ||||||||||||||||||||||
Cash revenues (a) |
7,288 | 100.0 | 6,968 | 100.0 | ||||||||||||||||||||
Salaries and benefits |
3,320 | 45.5 | 41.2 | 3,076 | 44.1 | 39.6 | ||||||||||||||||||
Supplies |
1,295 | 17.8 | 16.1 | 1,251 | 17.9 | 16.1 | ||||||||||||||||||
Other operating expenses |
1,326 | 18.2 | 16.4 | 1,226 | 17.7 | 15.9 | ||||||||||||||||||
% changes from prior year: |
||||||||||||||||||||||||
Revenues |
4.0 | % | ||||||||||||||||||||||
Cash revenues |
4.6 | |||||||||||||||||||||||
Revenue per equivalent admission |
0.5 | |||||||||||||||||||||||
Cash revenue per equivalent admission |
1.1 |
(a) | Cash revenues is defined as reported revenues less the provision for doubtful accounts. We use cash revenues as an analytical indicator for purposes of assessing the effect of uninsured patient volumes, adjusted for the effect of both the revenue deductions related to uninsured accounts (charity care and uninsured discounts) and the provision for doubtful accounts (which relates primarily to uninsured accounts), on our revenues and certain operating expenses, as a percentage of cash revenues. During the second quarter of 2011, charity care increased $58 million, uninsured discounts increased $270 million and the provision for doubtful accounts declined $13 million, compared to the second quarter of 2010. Cash revenues is commonly used as an analytical indicator within the health care industry. Cash revenues should not be considered as a measure of financial performance under generally accepted accounting principles (GAAP). Because cash revenues is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, cash revenues, as presented, may not be comparable to other similarly titled measures of other health care companies. | |
(b) | Salaries and benefits, supplies and other operating expenses, as a percentage of cash revenues (a non-GAAP financial measure), present the impact on these ratios due to the adjustment of deducting the provision for doubtful accounts from reported revenues and results in these ratios being non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors to provide disclosures of our results of operations on the same basis as that used by management. Management uses this information to compare certain operating expense categories as a percentage of cash revenues. Management finds this information useful to evaluate certain expense category trends without the influence of whether adjustments related to revenues for uninsured accounts are recorded as revenue adjustments (charity care and uninsured discounts) or operating expenses (provision for doubtful accounts), and thus the expense category trends are generally analyzed as a percentage of cash revenues. These non-GAAP financial measures should not be considered alternatives to GAAP financial measures. We believe this supplemental information provides management and the users of our financial statements with useful information for period-to-period comparisons. Investors are encouraged to use GAAP measures when evaluating our overall financial performance. |
8
2011 | 2010 | |||||||||||||||||||||||
Non-GAAP | Non-GAAP | |||||||||||||||||||||||
% of Cash | GAAP % of | % of Cash | GAAP % of | |||||||||||||||||||||
Revenues | Revenues | Revenues | Revenues | |||||||||||||||||||||
Amount | Ratios (b) | Ratios (b) | Amount | Ratios (b) | Ratios (b) | |||||||||||||||||||
Revenues |
$ | 16,118 | 100.0 | $ | 15,300 | 100.0 | ||||||||||||||||||
Provision for doubtful accounts |
1,424 | 1,352 | ||||||||||||||||||||||
Cash revenues (a) |
14,694 | 100.0 | 13,948 | 100.0 | ||||||||||||||||||||
Salaries and benefits |
6,615 | 45.0 | 41.0 | 6,148 | 44.1 | 40.2 | ||||||||||||||||||
Supplies |
2,570 | 17.5 | 15.9 | 2,451 | 17.6 | 16.0 | ||||||||||||||||||
Other operating expenses |
2,648 | 18.0 | 16.5 | 2,428 | 17.3 | 15.9 | ||||||||||||||||||
% changes from prior year: |
||||||||||||||||||||||||
Revenues |
5.3 | % | ||||||||||||||||||||||
Cash revenues |
5.3 | |||||||||||||||||||||||
Revenue per equivalent admission |
1.7 | |||||||||||||||||||||||
Cash revenue per equivalent admission |
1.7 |
(a) | Cash revenues is defined as reported revenues less the provision for doubtful accounts. We use cash revenues as an analytical indicator for purposes of assessing the effect of uninsured patient volumes, adjusted for the effect of both the revenue deductions related to uninsured accounts (charity care and uninsured discounts) and the provision for doubtful accounts (which relates primarily to uninsured accounts), on our revenues and certain operating expenses, as a percentage of cash revenues. During the first six months of 2011, charity care increased $148 million, uninsured discounts increased $508 million and the provision for doubtful accounts increased $72 million, compared to the first six months of 2010. Cash revenues is commonly used as an analytical indicator within the health care industry. Cash revenues should not be considered as a measure of financial performance under generally accepted accounting principles (GAAP). Because cash revenues is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, cash revenues, as presented, may not be comparable to other similarly titled measures of other health care companies. | |
(b) | Salaries and benefits, supplies and other operating expenses, as a percentage of cash revenues (a non-GAAP financial measure), present the impact on these ratios due to the adjustment of deducting the provision for doubtful accounts from reported revenues and results in these ratios being non-GAAP financial measures. We believe these non-GAAP financial measures are useful to investors to provide disclosures of our results of operations on the same basis as that used by management. Management uses this information to compare certain operating expense categories as a percentage of cash revenues. Management finds this information useful to evaluate certain expense category trends without the influence of whether adjustments related to revenues for uninsured accounts are recorded as revenue adjustments (charity care and uninsured discounts) or operating expenses (provision for doubtful accounts), and thus the expense category trends are generally analyzed as a percentage of cash revenues. These non-GAAP financial measures should not be considered alternatives to GAAP financial measures. We believe this supplemental information provides management and the users of our financial statements with useful information for period-to-period comparisons. Investors are encouraged to use GAAP measures when evaluating our overall financial performance. |
9
June 30, | March 31, | December 31, | ||||||||||
2011 | 2011 | 2010 | ||||||||||
ASSETS |
||||||||||||
Current assets: |
||||||||||||
Cash and cash equivalents |
$ | 539 | $ | 553 | $ | 411 | ||||||
Accounts receivable, net |
3,946 | 4,060 | 3,832 | |||||||||
Inventories |
887 | 881 | 897 | |||||||||
Deferred income taxes |
894 | 916 | 931 | |||||||||
Other |
625 | 576 | 848 | |||||||||
Total current assets |
6,891 | 6,986 | 6,919 | |||||||||
Property and equipment, at cost |
26,338 | 25,855 | 25,641 | |||||||||
Accumulated depreciation |
(14,754 | ) | (14,508 | ) | (14,289 | ) | ||||||
11,584 | 11,347 | 11,352 | ||||||||||
Investments of insurance subsidiary |
515 | 590 | 642 | |||||||||
Investments in and advances to affiliates |
843 | 852 | 869 | |||||||||
Goodwill |
2,719 | 2,705 | 2,693 | |||||||||
Deferred loan costs |
332 | 354 | 374 | |||||||||
Other |
993 | 975 | 1,003 | |||||||||
$ | 23,877 | $ | 23,809 | $ | 23,852 | |||||||
LIABILITIES AND STOCKHOLDERS DEFICIT |
||||||||||||
Current liabilities: |
||||||||||||
Accounts payable |
$ | 1,297 | $ | 1,348 | $ | 1,537 | ||||||
Accrued salaries |
1,009 | 975 | 895 | |||||||||
Other accrued expenses |
1,283 | 1,398 | 1,245 | |||||||||
Long-term debt due within one year |
689 | 546 | 592 | |||||||||
Total current liabilities |
4,278 | 4,267 | 4,269 | |||||||||
Long-term debt |
24,631 | 24,820 | 27,633 | |||||||||
Professional liability risks |
987 | 1,003 | 995 | |||||||||
Income taxes and other liabilities |
1,515 | 1,507 | 1,608 | |||||||||
Total liabilities |
31,411 | 31,597 | 34,505 | |||||||||
Equity securities with contingent redemption rights |
| | 141 | |||||||||
EQUITY (DEFICIT) |
||||||||||||
HCA Holdings, Inc. stockholders deficit |
(8,681 | ) | (8,930 | ) | (11,926 | ) | ||||||
Noncontrolling interests |
1,147 | 1,142 | 1,132 | |||||||||
Total deficit |
(7,534 | ) | (7,788 | ) | (10,794 | ) | ||||||
$ | 23,877 | $ | 23,809 | $ | 23,852 | |||||||
10
2011 | 2010 | |||||||
Cash flows from operating activities: |
||||||||
Net income |
$ | 654 | $ | 854 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||||
Changes in operating assets and liabilities |
(1,576 | ) | (1,698 | ) | ||||
Provision for doubtful accounts |
1,424 | 1,352 | ||||||
Depreciation and amortization |
716 | 710 | ||||||
Income taxes |
317 | (111 | ) | |||||
Losses sales of facilities |
1 | | ||||||
Impairments of long-lived assets |
| 109 | ||||||
Loss on retirement of debt |
75 | | ||||||
Amortization of deferred loan costs |
39 | 40 | ||||||
Share-based compensation |
16 | 16 | ||||||
Other |
| 23 | ||||||
Net cash provided by operating activities |
1,666 | 1,295 | ||||||
Cash flows from investing activities: |
||||||||
Purchase of property and equipment |
(776 | ) | (536 | ) | ||||
Acquisition of hospitals and health care entities |
(168 | ) | (31 | ) | ||||
Disposition of hospitals and health care entities |
54 | 25 | ||||||
Change in investments |
76 | 502 | ||||||
Other |
2 | (11 | ) | |||||
Net cash used in investing activities |
(812 | ) | (51 | ) | ||||
Cash flows from financing activities: |
||||||||
Issuance of long-term debt |
| 1,387 | ||||||
Net change in revolving credit facilities |
(1,524 | ) | 1,329 | |||||
Repayment of long-term debt |
(1,508 | ) | (1,529 | ) | ||||
Distributions to noncontrolling interests |
(185 | ) | (176 | ) | ||||
Distributions to stockholders |
(30 | ) | (2,251 | ) | ||||
Payment of debt issuance costs |
(12 | ) | (25 | ) | ||||
Issuance of common stock |
2,506 | | ||||||
Income tax benefits |
49 | 56 | ||||||
Other |
(22 | ) | 3 | |||||
Net cash used in financing activities |
(726 | ) | (1,206 | ) | ||||
Change in cash and cash equivalents |
128 | 38 | ||||||
Cash and cash equivalents at beginning of period |
411 | 312 | ||||||
Cash and cash equivalents at end of period |
$ | 539 | $ | 350 | ||||
Interest payments |
$ | 1,043 | $ | 973 | ||||
Income tax (refunds) payments, net |
$ | (36 | ) | $ | 400 |
11
Second Quarter | For the Six Months Ended June 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Consolidating Hospitals: |
||||||||||||||||
Number of Hospitals |
157 | 154 | 157 | 154 | ||||||||||||
Weighted Average Licensed Beds |
39,356 | 38,607 | 39,209 | 38,647 | ||||||||||||
Licensed Beds at End of Period |
39,472 | 38,636 | 39,472 | 38,636 | ||||||||||||
Reported: |
||||||||||||||||
Admissions |
397,500 | 385,200 | 804,400 | 784,100 | ||||||||||||
% Change |
3.2 | % | 2.6 | % | ||||||||||||
Equivalent Admissions |
638,900 | 617,900 | 1,277,300 | 1,233,400 | ||||||||||||
% Change |
3.4 | % | 3.6 | % | ||||||||||||
Revenue per Equivalent Admission |
$ | 12,620 | $ | 12,553 | $ | 12,618 | $ | 12,405 | ||||||||
% Change |
0.5 | % | 1.7 | % | ||||||||||||
Inpatient Revenue per Admission |
$ | 12,105 | $ | 12,211 | $ | 12,101 | $ | 12,017 | ||||||||
% Change |
-0.9 | % | 0.7 | % | ||||||||||||
Patient Days |
1,889,600 | 1,858,100 | 3,869,800 | 3,810,700 | ||||||||||||
Equivalent Patient Days |
3,038,300 | 2,981,300 | 6,145,200 | 5,994,200 | ||||||||||||
Inpatient Surgery Cases |
120,200 | 121,800 | 239,900 | 244,300 | ||||||||||||
% Change |
-1.3 | % | -1.8 | % | ||||||||||||
Outpatient Surgery Cases |
199,100 | 198,600 | 392,100 | 389,300 | ||||||||||||
% Change |
0.3 | % | 0.7 | % | ||||||||||||
Emergency Room Visits |
1,512,000 | 1,436,200 | 3,039,600 | 2,803,300 | ||||||||||||
% Change |
5.3 | % | 8.4 | % | ||||||||||||
Outpatient Revenues as a
Percentage of Patient Revenues |
39.0 | % | 38.2 | % | 38.4 | % | 37.3 | % | ||||||||
Average Length of Stay |
4.8 | 4.8 | 4.8 | 4.9 | ||||||||||||
Occupancy |
52.8 | % | 52.9 | % | 54.5 | % | 54.5 | % | ||||||||
Equivalent Occupancy |
84.8 | % | 84.9 | % | 86.5 | % | 85.7 | % | ||||||||
Same Facility: |
||||||||||||||||
Admissions |
391,800 | 384,800 | 795,800 | 782,300 | ||||||||||||
% Change |
1.8 | % | 1.7 | % | ||||||||||||
Equivalent Admissions |
628,900 | 617,300 | 1,262,200 | 1,229,800 | ||||||||||||
% Change |
1.9 | % | 2.6 | % | ||||||||||||
Revenue per Equivalent Admission |
$ | 12,573 | $ | 12,515 | $ | 12,564 | $ | 12,383 | ||||||||
% Change |
0.5 | % | 1.5 | % | ||||||||||||
Inpatient Revenue per Admission |
$ | 12,094 | $ | 12,224 | $ | 12,104 | $ | 12,029 | ||||||||
% Change |
-1.1 | % | 0.6 | % | ||||||||||||
Inpatient Surgery Cases |
119,200 | 121,100 | 237,800 | 242,600 | ||||||||||||
% Change |
-1.5 | % | -2.0 | % | ||||||||||||
Outpatient Surgery Cases |
195,800 | 197,000 | 386,500 | 386,000 | ||||||||||||
% Change |
-0.6 | % | 0.1 | % | ||||||||||||
Emergency Room Visits |
1,494,800 | 1,430,900 | 3,011,500 | 2,793,200 | ||||||||||||
% Change |
4.5 | % | 7.8 | % | ||||||||||||
Number of Consolidating and Nonconsolidating
(Equity Joint Ventures) Hospitals: |
||||||||||||||||
Consolidating |
157 | 154 | 157 | 154 | ||||||||||||
Nonconsolidating (Equity Joint Ventures) |
7 | 8 | 7 | 8 | ||||||||||||
Total Number of Hospitals |
164 | 162 | 164 | 162 | ||||||||||||
12
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