HCA Healthcare reported revenue of $14.97bn in Q3 2022, a decline of 1.98% as against $15.27bn in the corresponding period of 2021.
Net income attributable to the company stood at $1.13bn, or $3.91 per diluted share in third quarter of 2022, a decline of 66.66% as against $2.26bn, or $7.00 per diluted share, in the third quarter of last year.
Results for Q3 2022 include losses on sales of facilities of $3m, while results for Q3 2021 included gains on sales of facilities of $1.04bn, associated to the sale of four hospitals in Georgia and other health care entity investments.
In the third quarter of 2022, adjusted EBITDA totalled $2.90bn, as against $3.2bn in Q3 2021.
Same facility admissions fell 1.5% in Q3 2022, while same facility equivalent admissions grew 2.3% in Q3 2022, compared with the corresponding period of the prior year. Same facility emergency room visits fell 1.3% in Q3 2022, compared with the prior year period, while same facility inpatient surgeries grew 5.6%, and same facility outpatient surgeries rose 2% in the third quarter of 2022, as against the same period of 2021.
The company reported that the same facility revenue per equivalent admission fell 3.5% in Q3 2022, compared with the same period of 2021.
Year over year comparisons were affected by significantly higher Covid-19 volumes in the prior year, when Covid-19 represented 12.7% of same-facility admissions as against 5.2% in the present year quarter.
Revenue for the nine months touched $44.73bn, an increase of 2.37% as against $43.68bn in the same period of 2021.
Net income attributable to the company was $3.56bn, or $11.97 per diluted share, an increase of 36.32% as against $5.14bn, or $15.43 per diluted share, for the first nine months of 2021.
Results for the nine months of 2022 include losses on sales of facilities of $25m, and losses on retirement of debt of $78m.
As of 30 September 2022, HCA Healthcare operated 182 hospitals and around 2,300 ambulatory sites of care in 20 US states and the UK.