Community Health Systems, Brentwood, Tenn., offered more evidence that hospital admissions declined in the three months ended June 30, but the company said its profits and revenue increased by about 25%. CHS earned $30.6 million, or 30 cents per share, for the second quarter, compared with $24.2 million, or 24 cents per share, in the year-ago quarter. Revenue for the second quarter was $657.3 million. On a same-hospital basis, admissions fell 0.7%; equivalent admission fell 1.5%. CHS blamed its volume declines on the weak economy. Earlier this week, HCA and Universal Health Services both reported soft admissions figures for the quarter. Credit analysts have warned that not-for-profit hospitals seem to be experiencing weak admissions, too. CHS owns or operates 71 hospitals in 22 states. The company said it closed on its purchase of Pottstown (Pa.) Memorial Medical Center on July 1. -- by Vince Galloro
CHS also reports soft second-quarter volume
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.