From SEC filings, below here are the 3Q 2011 Pretax Earnings (PTI), along with a comparison to the prior year’s 3Q 2010 amounts, of the 8 US Publicly-held Hospital and Related Health Care Services Corps, which have released their 3Q Earnings so far, through today November 9, 2011.
......................................................PTI...PTI(L).....Increase.......
......................................................3Q.......3Q.......(Decrease)....
....................................................2011...2010..Amount..%..
......................................................(millions of dollars)
HCA(1)..................................TN....529.....468.......61.....13%
Davita...................................CO....259.....218.......41.....19%
Universal Health Systems......PA...147.......93.......54.....58%
Community Health Systems..TN....133.....131.........2.......2%
Health Mgt Associates...........FL.....72.......60.......12.....20%
LifePoint Hospitals................TN.....62.......55........7......13%
United Surgical Partners.......TX......41.......33........8......24%
Tenet Healthcare(2)..............TX......21......(7)......28....400%
Total of all 8...............................1,264...1,051....213.....20%
(1) HCA 2011 PTI excludes Loss on Debt Retirement.
(2) Tenet Healthcare 2010 PTI excludes Loss on Debt Retirement.
Yeah, these 8 Big Hospital and Health Care Related Services Corps had their 3Q 2011 Pretax Income increase sharply by 20%. And all 8 of them registered earnings increases.
The Occupying Movement, and most of its 99% supporters, are clearly aware of what continues to be going on in the Hospital Industry.....exorbitant patient service pricing.
What these outsized profits of the entire Hospital Industry, both publicly-held hospitals and the massive Non-Profit hospitals, are telling us is that the US Government simply needs to legislate for a substantial reduction in the amounts that Medicare pays to hospitals and related health care organizations for elderly patient services.
The Deficit Reduction Super-committee should substantially reduce Medicare payments to hospitals, rather than focusing on reducing Medicare benefits of retirees. And the same goes for Medicaid payments.
This is how you best bend the long term health care cost curve, and in a fair and wise manner.
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Late Addition Big Hospitals Not Included in the Above Charts
......................................................PTI.....PTI.....Increase.......
......................................................3Q.......3Q.....(Decrease)....
....................................................2011...2010..Amount..%..
......................................................(millions of dollars)
Mednax..................................FL.....94.....81.......13.....16%
Psychiatric Solutions.............TN.....87.....46.......41.....89%
Amsurg..................................TN.....56.....52........4.......8%
Healthsouth...........................AL.....52.....38.......14.....37%
Magellan Health....................MD.....36.....73.....(37)...(51)%
Total of all 5..................................325....290......35.....12%
