Nashville, Tenn.-based HCA Healthcare rounded out 2023 with fourth-quarter net income totaling $1.61 billion, a decrease of 26% year over year.
"In the quarter, we experienced strong demand for services across our diversified portfolio of markets, facilities and service lines," Sam Hazen, CEO of HCA, said in the company's fourth-quarter financial report, published Jan. 30. "This growth coupled with improved cost trends drove solid financial performance in the fourth quarter."
The company said Bill Rutherford, executive vice president and CFO, plans to retire May 1. He will be succeeded by Mike Marks, HCA's current senior vice president of finance.
Here are five notes on the company's financial performance in the fourth quarter of 2023 and the year overall:
1. HCA reported a net income of $5.24 billion in 2023, compared to $5.64 billion in 2022.
2. Its ASCs saw 270,286 surgery cases in the fourth quarter and 1,044,415 in the year overall; the yearly total represents a 2.1% increase.
3. The company sold two ASCs in 2023, ending the year with 124.
4. In the fourth quarter, outpatient revenues accounted for 38.3% of patient revenues at all facilities. Outpatient procedures accounted for 38.3% of patient revenues in the year overall.
5. HCA predicts growth in 2024, setting its 2024 net income guidance between $5.2 billion and $5.6 billion.