Universal Health Services' financial performance at the end of 2017 shows the system continues to buck the trend of soft patient volumes that's plagued other health systems.
Net income attributable to UHS was nearly $220 million in the fourth quarter of 2017, a 26% jump from the same time in 2016 when its net income was $174 million. Revenue in the final quarter of 2017 was $2.6 billion, up from about $2.5 billion in the prior year.
The King of Prussia, Pa.-based hospital chain saw adjusted admissions at its acute-care hospitals increase 7.3% in the fourth quarter of 2017 compared with the same quarter of 2016, and its net revenue from acute care increased 6.5% during that time.
Net revenue per adjusted admission in UHS' acute-care facilities, however, declined 0.1% in the fourth quarter of 2017.
Adjusted admissions increased 2.5% in UHS' behavioral health facilities in the fourth quarter of 2017 compared with the same point in 2016. Net revenue per adjusted behavioral health admission, however, declined 0.3% during that time.
UHS Chief Financial Officer Steve Filton last month told investors at the J.P. Morgan Healthcare Conference that a shortage of qualified providers was responsible for weaker than expected behavioral health revenue.
In 2017, UHS' net income grew to $752 million compared with $702 million the prior year. The system's net revenue in 2017 increased 6.6% to $10.4 billion compared with 2016.