Baptist Memorial Health Care Corp., a 14-hospital system in Memphis, Tenn., posted a bigger-than-expected net loss for the nine-month period ended June 30 as its patient volume and payer mix declined.
The system reported financial results for the month of June as well as the first nine months of its fiscal year, which ends Sept. 30.
Baptist had budgeted for a 1% increase in discharges and a 3.3% increase in revenue per discharge for the first nine months of its fiscal year. Instead, it saw flat patient volume and a 0.4% decrease in revenue per patient. Its salary and benefit costs per discharge also increased 5.4%, instead of the 3.8% budgeted.