Universal Health Services, King of Prussia, Pa., said its profits for the third quarter ended Sept. 30 rose 37% compared with the year-ago quarter on higher admissions at its acute-care hospitals open for at least 12 months. UHS earned $41.5 million, or 65 cents per share, in the third quarter, compared to $30.3 million, or 48 cents per share, in 2001's third quarter. Revenue was up 12.8%, to $813.1 million. For the quarter, revenue was up 8.7% and adjusted admissions, which take into account both inpatient and outpatient volumes, was up 7.1%, compared with year-ago figures for the 23 acute-care hospitals UHS operated in both quarters. At the company's 37 behavioral hospitals, revenue and adjusted admissions were up 6.8% and 5.8%, respectively, for the quarter. For the nine months ended Sept. 30, UHS earned $131.5 million, or $2.05 per share, up 33% from the $98.8 million, or $1.56 per share, UHS posted in the period a year ago. UHS owns or operates 25 acute-care and 37 behavioral hospitals.
UHS boosts profits on admissions growth
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