Nashville, Tenn.-based HCA Healthcare published preliminary financial and operating results for the third quarter ended Sept. 30.
Three key points:
1. Final third-quarter results are expected in late October. HCA anticipates:
- Revenue of about $13.3 billion, up from nearly $12.7 billion in the third quarter of 2019.
- $950 million in income before taxes, up from $979 million in the third quarter of 2019.
- A 4 percent year-over-year decline in same-facility admissions, as well as a year-over-year drop of 9 percent for same-facility equivalent admissions.
- A 20 percent decline in same-facility emergency room visits from the prior year's third quarter.
- A 15 percent year-over-year increase in same-facility revenue per equivalent admission due to "increases in acuity for patients treated and favorable payer mix."
2. Preliminary results for the third quarter of 2020 include a reversal of $822 million in government stimulus income that had been recorded in the second quarter. In the third quarter of 2019, HCA reported $211 million in losses on retirement of debt.
3. HCA Healthcare's "conservative approach" to operational and financial challenges created by the COVID-19 pandemic now allows it to repay about $6 billion in emergency financial assistance. Using available cash and future cash flows from operations, HCA will repay about $1.6 billion it received in provider relief funds and about $4.4 billion in Medicare accelerated payments.
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