Tenet Healthcare Corp., Dallas, reported a smaller loss in the third quarter than a year ago, and said that the improved performance was based on steps the company has taken to arrest its volume losses, improve commercial reimbursements and cut costs. Tenet said it lost $59 million in the quarter ended Sept. 30, down one-third from a loss of $89 million in 2006s third quarter. Revenue was $2.21 billion, up 7.5%. For the nine months, Tenet recorded a $14 million loss, compared with a loss of $417 million in the year-ago period, which included Tenets $900 million global fraud settlement with the federal government.
Tenet said it has trimmed 208 full-time equivalents in corporate and regional positions (about 7.5% of the total) and 1,275 full-time equivalents at its hospitals (about 2.7% of the total) in the past 12 months, as the company adjusts its staffing to lower patient volumes. On a same-facility basis, those admissions declined 0.8% comparing the third quarter with the year-ago quarter, and its commercial managed-care admissions declined by only 0.6%year over year, the smallest decline that Tenet has recorded since it began reporting this figure two years ago, Tenet said. Tenet owns or operates 58 hospitals, including four held for sale.-- by Vince Galloro
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