Two investor-owned chains reported higher profits for the quarter ended Dec. 31, 2003, but their admissions figures moved in opposite directions. Iasis Healthcare Corp., Franklin, Tenn., said its profits climbed almost 10% in its fiscal 2004 first quarter on revenue and admissions growth. Privately held Iasis earned $8.2 million compared with $7.5 million in the year-ago quarter. Revenue was up 25%, to $318.1 million. Iasis said its inpatient admissions grew 5.2% compared with its fiscal 2003 first quarter, but adjusted admissions rose only 1.8%, suggesting weak outpatient volume. Iasis owns or operates 14 hospitals. Meanwhile, Universal Health Services, King of Prussia, Pa., said profits rose in its fiscal 2003 fourth quarter, also ended Dec. 31, but patient volume at its acute-care hospitals fell 2.5% compared with the year-ago quarter. UHS reported the figures in a preview of its fourth-quarter and full-year results; the company plans to report full results Feb. 18. UHS owns or operates 30 acute-care and 39 psychiatric hospitals in North America. -- by Vince Galloro
Profits up but admissions vary at Iasis, Universal
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