Vanguard Health Systems, Nashville, said overall patient volume increased for the three months ended March 31 compared with the year-ago quarter, despite a 7.7% drop in emergency room visits. For the nine hospitals Vanguard operated in the third quarters of 2002 and 2003, adjusted discharges rose 4.9% and outpatient surgeries were up 5.5%. Vanguard said its net income rose to $6.6 million from $6.4 million in the year-ago quarter. The company said income tax payments of $4 million for the quarter, compared with $620,000 in the 2002 quarter, kept a lid on profits. Revenue was up 71%, to $402.4 million, as Vanguard closed in early January on the purchase of five-hospital Baptist Health System, San Antonio. For the nine months ended March 31, Vanguard more than doubled its profits to $11.1 million on revenue of $937.6 million, a 41% increase over the year-ago period's revenue.-- by Vince Galloro
Vanguard's profit rises with patient volume
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