Tenet Reports Results for the Fourth Quarter and Year Ended December 31, 2018 and Issues Outlook for 2019

Business Wire - finance.yahoo.com Posted 6 years ago

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TENET HEALTHCARE CORPORATION

SELECTED STATISTICS – CONTINUING TOTAL HOSPITALS(1)

(Unaudited)

 
 

(Dollars in millions except per patient day, per admission, per adjusted admission and per visit amounts)

Three Months Ended December 31, Years Ended December 31,
2018     2017     Change 2018     2017     Change
 
Admissions, Patient Days and Surgeries
Number of hospitals (at end of period) 68 72 (4 ) * 68 72 (4 ) *
Total admissions 170,407 186,185 (8.5 )% 689,367 758,875 (9.2 )%
Adjusted patient admissions 308,113 332,642 (7.4 )% 1,241,241 1,354,266 (8.3 )%
Paying admissions (excludes charity and uninsured) 160,172 176,158 (9.1 )% 648,071 717,498 (9.7 )%
Charity and uninsured admissions 10,235 10,027 2.1 % 41,296 41,377 (0.2 )%
Admissions through emergency department 120,012 123,887 (3.1 )% 476,851 492,660 (3.2 )%
Paying admissions as a percentage of total admissions 94.0 % 94.6 % (0.6 )% * 94.0 % 94.5 % (0.5 )% *
Charity and uninsured admissions as a percentage of total admissions 6.0 % 5.4 % 0.6 % * 6.0 % 5.5 % 0.5 % *
Emergency department admissions as a percentage of total admissions 70.4 % 66.5 % 3.9 % * 69.2 % 64.9 % 4.3 % *
Surgeries — inpatient 45,897 50,292 (8.7 )% 185,020 205,114 (9.8 )%
Surgeries — outpatient 62,638 68,604 (8.7 )% 250,919 276,895 (9.4 )%
Total surgeries 108,535 118,896 (8.7 )% 435,939 482,009 (9.6 )%
Patient days — total 779,728 857,728 (9.1 )% 3,166,815 3,509,056 (9.8 )%
Adjusted patient days 1,383,372 1,505,130 (8.1 )% 5,608,653 6,163,961 (9.0 )%
Average length of stay (days) 4.58 4.61 (0.7 )% 4.59 4.62 (0.7 )%
Licensed beds (at end of period) 17,937 19,141 (6.3 )% 17,937 19,141 (6.3 )%
Average licensed beds 17,935 19,320 (7.2 )% 18,321 19,995 (8.4 )%
Utilization of licensed beds 47.3 % 48.3 % (1.0 )% * 47.4 % 48.1 % (0.7 )% *
Outpatient Visits
Total visits 1,734,523 1,901,864 (8.8 )% 7,049,201 7,791,125 (9.5 )%
Paying visits (excludes charity and uninsured) 1,617,970 1,777,790 (9.0 )% 6,584,502 7,277,514 (9.5 )%
Charity and uninsured visits 116,553 124,074 (6.1 )% 464,699 513,611 (9.5 )%
Emergency department visits 649,544 711,268 (8.7 )% 2,627,829 2,854,200 (7.9 )%
Paying visits as a percentage of total visits 93.3 % 93.5 % (0.2 )% * 93.4 % 93.4 % 0.0 % *
Charity and uninsured visits as a percentage of total visits 6.7 % 6.5 % 0.2 % * 6.6 % 6.6 % 0.0 % *
Total emergency department admissions and visits 769,556 835,155 (7.9 )% 3,104,680 3,346,860 (7.2 )%
Revenues
Net patient revenues(3) $ 3,561 $ 3,860 (7.7 )% $ 14,081 $ 14,829 (5.0 )%
Revenues on a Per Adjusted Patient Admission and Per Adjusted Patient Day
Net patient revenue(3) per adjusted patient

admission

$ 11,557 $ 11,604 (0.4 )% $ 11,344 $ 10,950 3.6 %
Net patient revenue(3) per adjusted patient day $ 2,574 $ 2,565 0.4 % $ 2,511 $ 2,406 4.4 %
Total selected operating expenses (salaries, wages and benefits, supplies and other operating expenses) per adjusted patient admission(2) $ 10,861 $ 10,492 3.5 % $ 10,701 $ 10,384 3.1 %
Net Patient Revenues(3) from:
Medicare 20.1 % 20.4 % (0.3 )% * 20.5 % 21.9 % (1.4 )% *
Medicaid 9.1 % 12.9 % (3.8 )% * 9.2 % 8.8 % 0.4 % *
Managed care 65.8 % 61.5 % 4.3 % * 65.4 % 64.6 % 0.8 % *
Self-pay 0.5 % 1.3 % (0.8 )% * 0.7