Iasis profits off 13 percent

Revenue per patient rises, but expenses jump 17 percent

Email | Print By Geert De Lombaerde

Hospital operator Iasis Healthcare earned $14.7 million in its recently completed second quarter, 13 percent less than in the year-ago period. Revenues for the quarter rose 15 percent to $543 million.

While bad debts played a part in the profit drop – they rose 31 percent to $44.6 million in the quarter – other expenses also were up as a percentage of sales. Salaries/benefits and medical claims, which account for more than half Iasis' operating costs – both rose more than 20 percent.

Same-facility admissions fell by more than 1 percent during the quarter, but revenue per patient rose almost 2 percent. Through the first six months of its fiscal year, Iasis earned $25.4 million on revenue of almost $1.1 billion. A year ago, those numbers $27.5 million and $890 million, respectively.

For the company's full release, click here.