Triad Hospitals, Plano, Texas, said more uninsured patients and higher co-payments for insured patients are forcing the company to increase its allowance for bad debt and take a $50 million charge for the third quarter ended Sept. 30. Triad said the noncash charge will cut earnings for the quarter by 41 cents per share, with the company predicting per-share profits of 9 cents to 14 cents. Stock analysts were expecting per-share profits of 48 cents for the quarter, according to Thomson Financial Network. Triad also withdrew its previous 2003 profit estimates -- a per-share range of $2.08 to $2.20. The company operates 49 hospitals and 14 ambulatory surgery centers in 17 states. HCA, Nashville, increased its bad-debt provision by $106 million in the quarter ended June 30. -- by Vince Galloro
More uninsured lead Triad to cut earnings estimate
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.