Navigation Links
Universal Health Services, Inc. Reports 2008 Third Quarter Results
Date:10/27/2008

Consolidated Results of Operations:

KING OF PRUSSIA, Pa., Oct. 27 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that its net income was $37.0 million, or $.73 per diluted share, during the third quarter ended September 30, 2008, representing a 14% increase over the adjusted net income per diluted share earned during the third quarter of 2007, as discussed below. Net income was $152.9 million, or $3.00 per diluted share, during the nine-month period ended September 30, 2008, representing a 29% increase over the adjusted net income per diluted share earned during nine-month period ended September 30, 2007.

Reported net income was $28.9 million, or $.54 per diluted share, during the three-month period ended September 30, 2007 and $130.4 million, or $2.43 per diluted share, during the nine-month period ended September 30, 2007. After adjusting our 2007 results for the items indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule"), our adjusted net income was $34.1 million, or $.64 per diluted share, during the third quarter of 2007 and $124.7 million, or $2.32 per diluted share, during the nine-month period ended September 30, 2007. As indicated on the Supplemental Schedules, the combined net impact of the various favorable and unfavorable items included in our net income during the 2007 periods amounted to: (i) an unfavorable $5.3 million, or $.10 per diluted share, during the three-month period ended September 30, 2007, and; (ii) a favorable $5.8 million, or $.11 per diluted share, during the nine-month period ended September 30, 2007.

Net revenues increased 7% to $1.24 billion during the third quarter of 2008 as compared to $1.16 billion during the third quarter of 2007. Net revenues increased 8% to $3.79 billion during the nine-month period ended September 30, 2008 as compared to $3.51 billion during the nine-month period ended September 30, 2007.

Acute Care Services:

At our acute care hospitals owned during both periods ("same facility basis"), inpatient admissions decreased 0.8% and patient days decreased 1.9% during the third quarter of 2008 as compared to the third quarter of 2007. On a same facility basis, net revenues at our acute care facilities increased 2.5% during the third quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted admission at these facilities increased 3.7% during the third quarter of 2008 over the comparable prior year quarter. On a same facility basis, the operating margin (net revenues less salaries, wages and benefits, other operating expenses, supplies expense and provision for doubtful accounts) at our acute care hospitals decreased to 11.8% during the third quarter of 2008 as compared to 12.6% during the third quarter of 2007.

On a same facility basis, inpatient admissions at our acute care facilities increased 0.2% and patient days increased 0.6% during the nine- month period ended September 30, 2008 as compared to the comparable period of the prior year. Net revenues at these facilities increased 5.6% during the nine-month period ended September 30, 2008 as compared to the comparable prior year period. Net revenue per adjusted admission at these facilities increased 5.3% during the nine-month period ended September 30, 2008 over the comparable prior year period. On a same facility basis, the operating margin at our acute care hospitals increased to 14.7% during the first nine months of 2008 as compared to 13.7% during the comparable nine months of 2007.

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $154 million and $148 million during the three-month periods ended September 30, 2008 and 2007, respectively, and $451 million and $422 million during the nine-month periods ended September 30, 2008 and 2007, respectively.

Behavioral Health Care Services:

At our behavioral health facilities, on a same facility basis, inpatient admissions increased 8.5% and patient days increased 3.9% during the third quarter of 2008 as compared to the third quarter of 2007. On a same facility basis, net revenues at our behavioral health facilities increased 9.5% during the third quarter of 2008 as compared to the comparable prior year quarter. Net revenue per adjusted patient day at these facilities increased 5.3% during the third quarter of 2008 as compared to the comparable quarter of the prior year. The operating margin at our behavioral health facilities owned during both periods increased to 23.7% during the third quarter of 2008 as compared to 22.3% during the third quarter of 2007.

On a same facility basis, inpatient admissions increased 8.3% and patient days increased 4.4% during the first nine months of 2008 over the comparable prior year period. On a same facility basis, net revenues at our behavioral health facilities increased 8.8% during the nine-month period ended September 30, 2008 as compared to the comparable period of the prior year. Net revenue per adjusted patient day at these facilities increased 4.5% during the nine- month period ended September 30, 2008 over the comparable period of the prior year. The operating margin at our behavioral health facilities owned during both periods increased to 24.1% during the first nine months of 2008 as compared to 23.2% during the comparable period of the prior year.

Other Matters:

As previously announced, we entered into a definitive agreement to sell Central Montgomery Medical Center, a 125-bed acute care hospital located in Lansdale, Pennsylvania. The sale, which is subject to customary regulatory approval, is scheduled to close by early November, 2008. The operating results of this facility are reflected as "Income/(loss) from discontinued operations, net of income taxes", on the Consolidated Statements of Income for the three and nine-month periods ended September 30, 2008 and 2007. The assets and liabilities of this facility are reflected as "current/long-term assets held for sale" and "current liabilities held for sale" on the Consolidated Balance Sheet as of September 30, 2008.

Conference Call Information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on October 28, 2008. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on October 28, 2008 and will continue through midnight on November 11, 2008. The recording can be accessed by calling 1-800-642-1687 and entering the conference ID number 68544706. This call will also be available live over the internet at our web site at http://www.uhsinc.com. It will also be distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN's individual investor center at http://www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (http://www.streetevents.com).

General Information, Forward-Looking Statements and Risk Factors and Non- GAAP Financial Measures:

Universal Health Services, Inc. is one of the nation's largest hospital companies, operating acute care and behavioral health hospitals and ambulatory centers nationwide and in Puerto Rico. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors in our Form 10-K for the year ended December 31, 2007 and in Item 2- Forward-Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended June 30, 2008), may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

We believe that operating income, operating margin, adjusted income from continuing operations, adjusted income from continuing operations per diluted share, adjusted net income, adjusted net income per diluted share and earnings before interest, taxes, depreciation and amortization ("EBITDA"), which are non-GAAP financial measures ("GAAP" is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that it is helpful to our investors to present, compare and discuss our financial results after the effect of items that are nonrecurring or non-operational in nature has been neutralized. Such items include, but are not limited to, gains on sales of assets and businesses, adjustments to reserves for self-insured claims, reserves for legal judgments, lawsuits and other settlements and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2007 and Report on Form 10-Q for the quarterly period ended June 30, 2008. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.

Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)

Three months Nine months

ended September 30, ended September 30,

2008 2007 2008 2007

Net revenues $1,244,462 $1,163,605 $3,785,015 $3,505,813

Operating charges:

Salaries, wages and

benefits 530,858 502,361 1,600,514 1,494,553

Other operating

expenses 269,299 261,637 777,257 737,240

Supplies expense 170,743 160,190 524,246 499,930

Provision for doubtful

accounts 125,003 108,639 365,446 308,363

Depreciation and

amortization 48,465 45,898 142,544 133,343

Lease and rental

expense 17,600 17,838 53,021 50,405

Hurricane related

expenses, net - 82 - 707

1,161,968 1,096,645 3,463,028 3,224,541

Income before interest

expense, minority

interests and

income taxes 82,494 66,960 321,987 281,272

Interest expense, net 13,419 12,881 40,147 38,643

Minority interests in earnings

of consolidated entities 9,316 9,784 34,022 32,651

Income before income taxes 59,759 44,295 247,818 209,978

Provision for income taxes 22,536 14,961 95,352 79,177

Income from continuing

operations 37,223 29,334 152,466 130,801

(Loss) income from

discontinued operations,

net of income taxes (226) (480) 434 (368)

Net income $36,997 $28,854 $152,900 $130,433

Basic earnings per share:

From continuing

operations $0.73 $0.55 $3.00 $2.45

From discontinued

operations 0.00 (0.01) 0.01 (0.01)

Total basic earnings

per share $0.73 $0.54 $3.01 $2.44

Diluted earnings per

share:

From continuing

operations $0.73 $0.55 $2.99 $2.44

From discontinued

operations 0.00 (0.01) 0.01 (0.01)

Total diluted

earnings per share $0.73 $0.54 $3.00 $2.43

Weighted average number of

common shares 50,544 53,481 50,812 53,491

Other share equivalents 217 148 157 190

Weighted average number of

common shares and equiv.

- diluted 50,761 53,629 50,969 53,681

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income

Information ("Supplemental Schedule")

For the three months ended September 30, 2008 and 2007

(in thousands, except per share amounts)

(unaudited)

Three months ended Three months ended

September 30, 2008 September 30, 2007

Net revenues $1,244,462 100.0% $1,163,605 100.0%

Operating charges:

Salaries, wages and benefits 530,858 42.7% 502,361 43.2%

Other operating expenses 269,299 21.6% 261,637 22.5%

Supplies expense 170,743 13.7% 160,190 13.8%

Provision for doubtful accounts 125,003 10.0% 108,639 9.3%

1,095,903 88.1% 1,032,827 88.8%

Operating income/margin 148,559 11.9% 130,778 11.2%

Lease and rental expense 17,600 17,838

Minority interests in earnings

of consolidated entities 9,316 9,784

Earnings before hurricane related

expenses, depreciation and

amortization, interest expense,

and income taxes ("EBITDA") 121,643 103,156

Hurricane related expenses, net - 82

Depreciation and amortization 48,465 45,898

Interest expense, net 13,419 12,881

Income before income taxes 59,759 44,295

Provision for income taxes 22,536 14,961

Income from continuing operations 37,223 29,334

Income (loss) from discontinued

operations, net of income taxes (226) (480)

Net income $36,997 $28,854

Three months ended Three months ended

September 30, 2008 September 30, 2007

Per Per

Diluted Diluted

Amount Share Amount Share

Calculation of Adjusted Income from

Continuing Operations

Income from continuing operations $37,223 $0.73 $29,334 $0.55

Plus/minus adjustments:

Gains, legal judgment, write-down

of investments in joint-ventures

and hurricane related expense, net

of income taxes - - 3,945 0.07

Unfavorable prior period effect of

Texas Medicaid supplemental

payments and cost report settlements,

net of income taxes - - 3,399 0.07

Favorable tax reserve adjustment - - (2,079) (0.04)

Subtotal after-tax adjustments to

income from continuing operations - - 5,265 0.10

Adjusted income from continuing

operations $37,223 $0.73 $34,599 $0.65

Calculation of Adjusted Net Income

Net income $36,997 $0.73 $28,854 $0.54

After-tax adjustments to income from

continuing operations, as indicated

above - - 5,265 0.10

Adjusted net income $36,997 $0.73 $34,119 $0.64

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income

Information ("Supplemental Schedule")

For the nine months ended September 30, 2008 and 2007

(in thousands, except per share amounts)

(unaudited)

Nine months ended Nine months ended

September 30, 2008 September 30, 2007

Net revenues $3,785,015 100.0% $3,505,813 100.0%

Operating charges:

Salaries, wages and benefits 1,600,514 42.3% 1,494,553 42.6%

Other operating expenses 777,257 20.5% 737,240 21.0%

Supplies expense 524,246 13.9% 499,930 14.3%

Provision for doubtful accounts 365,446 9.7% 308,363 8.8%

3,267,463 86.3% 3,040,086 86.7%

Operating income/margin 517,552 13.7% 465,727 13.3%

Lease and rental expense 53,021 50,405

Minority interests in earnings

of consolidated entities 34,022 32,651

Earnings before hurricane related

expenses, depreciation and

amortization, interest expense,

and income taxes ("EBITDA") 430,509 382,671

Hurricane related expenses, net - 707

Depreciation and amortization 142,544 133,343

Interest expense, net 40,147 38,643

Income before income taxes 247,818 209,978

Provision for income taxes 95,352 79,177

Income from continuing operations 152,466 130,801

Income (loss) from discontinued

operations, net of income taxes 434 (368)

Net income $152,900 $130,433

Nine months ended Nine months ended

September 30, 2008 September 30, 2007

Per Per

Diluted Diluted

Amount Share Amount Share

Calculation of Adjusted Income from

Continuing Operations

Income from continuing operations $152,466 $2.99 $130,801 $2.44

Plus/minus adjustments:

Reduction of reserve for

professional and general

liability self-insured claims,

net of minority interests and

income taxes - - (10,045) (0.19)

Unfavorable prior period effect of

Texas Medicaid supplemental

payments and cost report

settlements, net of income taxes - - 3,399 0.07

Gains, legal judgment, write-down

of investments in joint-ventures

and hurricane related expense,

net of income taxes - - 2,975 0.05

Favorable tax reserve adjustment - - (2,079) (0.04)

Subtotal after-tax adjustments to

income from continuing operations - - (5,750) (0.11)

Adjusted income from continuing

operations $152,466 $2.99 $125,051 $2.33

Calculation of Adjusted Net Income

Net income $152,900 $3.00 $130,433 $2.43

After-tax adjustments to income from

continuing operations, as indicated

above - - (5,750) (0.11)

Adjusted net income $152,900 $3.00 $124,683 $2.32

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

September 30, December 31,

2008 2007

Assets:

Cash and cash equivalents $7,805 $16,354

Accounts receivable, net 628,973 627,186

Other current assets 130,151 131,307

Current assets held for sale 10,871 -

Property, plant and equipment, net 2,015,290 1,933,916

Other assets 874,659 899,894

Other non current assets held for sale 30,587 -

Total Assets $3,698,336 $3,608,657

Liabilities and Stockholders' Equity:

Current portion of long-term debt $8,260 $3,116

Other current liabilities 553,762 484,595

Current liabilities held for sale 4,221 -

Other noncurrent liabilities 362,421 344,755

Long-term debt 935,461 1,008,786

Deferred income taxes 35,342 40,022

Minority interests 232,555 210,184

Stockholders' equity 1,566,314 1,517,199

Total Liabilities and Stockholders' Equity $3,698,336 $3,608,657

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Nine months

ended September 30,

2008 2007

Cash Flows from Operating Activities:

Net income $152,900 $130,433

Adjustments to reconcile net income

to net cash provided by operating

activities:

Depreciation & amortization 144,711 135,417

Changes in assets & liabilities,

net of effects from acquisitions

and dispositions:

Accounts receivable (7,796) (17,359)

Construction management receivable (1,674) -

Accrued interest 11,290 9,055

Accrued and deferred income taxes (3,418) (6,374)

Other working capital accounts 35,941 47,558

Other assets and deferred charges 16,317 37

Other 12,347 2,723

Minority interest in earnings of

consolidated entities, net of

distributions 15,209 9,041

Accrued insurance expense, net of

commercial premiums paid 58,127 45,275

Payments made in settlement of

self-insurance claims (38,011) (33,025)

Net cash provided by

operating activities 395,943 322,781

Cash Flows from Investing Activities:

Property and equipment additions,

net of disposals (239,880) (263,366)

Proceeds received from sale of

assets 32,634 5,268

Settlement proceeds received

related to prior year

acquisition, net of expenses 1,539 -

Investment in joint-venture (1,270) -

Acquisition of assets and

businesses (14,775) (103,159)

Purchase of minority ownership

interest in majority owned

business (1,058) (14,762)

Net cash used in investing

activities (222,810) (376,019)

Cash Flows from Financing Activities:

Additional borrowings, net of

financing costs 150,155 169,852

Reduction of long-term debt (219,311) (103,846)

Repurchase of common shares (104,436) (14,386)

Dividends paid (12,147) (12,917)

Issuance of common stock 1,751 1,041

Capital contributions from

minority member 2,306 12,129

Net cash (used in) provided

by financing activities (181,682) 51,873

Decrease in cash and cash equivalents (8,549) (1,365)

Cash and cash equivalents, beginning of period 16,354 14,939

Cash and cash equivalents, end of period $7,805 $13,574

Supplemental Disclosures of Cash Flow

Information:

Interest paid $34,198 $35,991

Income taxes paid, net of refunds $97,907 $83,894

Universal Health Services, Inc.

Supplemental Statistical Information

(un-audited)

% Change % Change

Quarter Ended 9 months ended

Same Facility: 9/30/2008 9/30/2008

Acute Care Hospitals

Revenues 2.5% 5.6%

Adjusted Admissions -1.1% 0.3%

Adjusted Patient Days -2.2% 0.6%

Revenue Per Adjusted Admission 3.7% 5.3%

Revenue Per Adjusted Patient Day 4.8% 5.0%

Behavioral Health Hospitals

Revenues 9.5% 8.8%

Adjusted Admissions 8.5% 8.1%

Adjusted Patient Days 4.0% 4.1%

Revenue Per Adjusted Admission 0.9% 0.7%

Revenue Per Adjusted Patient Day 5.3% 4.5%

UHS Consolidated Third Quarter Ended Nine months Ended

9/30/2008 9/30/2007 9/30/2008 9/30/2007

Revenues $1,244,462 $1,163,605 $3,785,015 $3,505,813

EBITDA (1) 121,643 103,156 430,509 382,671

EBITDA Margin (1) 9.8% 8.9% 11.4% 10.9%

Cash Flow From Operations 197,477 163,805 395,943 322,781

Days Sales Outstanding 46 49 46 49

Capital Expenditures 83,818 78,779 239,880 263,366

Debt 943,721 903,957

Shareholders Equity 1,566,314 1,534,839

Debt / Total

Capitalization 37.6% 37.1%

Debt / EBITDA (2) 1.69 1.85

Debt / Cash From

Operations (2) 2.24 3.74

Acute Care EBITDAR

Margin (3) (4) 11.7% 11.6% 14.2% 13.9%

Behavioral Health EBITDAR

Margin (3) (4) 23.0% 21.4% 23.5% 23.0%

(1) Net of Minority Interest

(2) Latest 4 quarters

(3) Before Corporate overhead allocation and minority interest

(4) Excluding discontinued operations

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

SEPTEMBER 30, 2008

AS REPORTED:

ACUTE (1) BEHAVIORAL HEALTH

% %

09/30/08 09/30/07 change 09/30/08 09/30/07 change

Hospitals owned and

leased 22 21 4.8% 83 85 -2.4%

Average licensed beds 5,450 5,292 3.0% 7,618 7,485 1.8%

Patient days 286,547 285,505 0.4% 519,362 506,466 2.5%

Average daily census 3,114.6 3,103.3 0.4% 5,645.2 5,505.1 2.5%

Occupancy-licensed

beds 57.1% 58.6% -2.5% 74.1% 73.5% 0.8%

Admissions 64,738 63,448 2.0% 32,786 30,156 8.7%

Length of stay 4.4 4.5 -1.6% 15.8 16.8 -5.7%

Inpatient revenue $2,259,640 $2,044,147 10.5% $488,986 $452,223 8.1%

Outpatient revenue 917,982 858,313 7.0% 61,358 54,470 12.6%

Total patient

revenue 3,177,622 2,902,460 9.5% 550,344 506,693 8.6%

Other revenue 18,027 15,313 17.7% 8,183 7,476 9.5%

Gross hospital

revenue 3,195,649 2,917,773 9.5% 558,527 514,169 8.6%

Total deductions 2,296,319 2,071,179 10.9% 247,695 229,156 8.1%

Net hospital revenue $899,330 $846,594 6.2% $310,832 $285,013 9.1%

SAME FACILITY:

ACUTE (2) BEHAVIORAL HEALTH (3)

% %

09/30/08 09/30/07 change 09/30/08 09/30/07 change

Hospitals owned and

leased 21 21 0.0% 81 81 0.0%

Average licensed beds 5,285 5,292 -0.1% 7,455 7,266 2.6%

Patient days 280,020 285,531 -1.9% 509,708 490,388 3.9%

Average daily census 3,043.7 3,103.6 -1.9% 5,540.3 5,330.3 3.9%

Occupancy-licensed

beds 57.6% 58.6% -1.8% 74.3% 73.4% 1.3%

Admissions 62,912 63,448 -0.8% 32,599 30,041 8.5%

Length of stay 4.5 4.5 -1.1% 15.6 16.3 -4.2%

(1) Acute care hospitals located in New Orleans and discontinued operations are excluded in 2007 and 2008.

(2) Acute care hospitals located in New Orleans, discontinued operations and Centennial Hills Hospital are excluded in current and prior years.

(3) Casa de Lago, Central Florida, Summit Ridge Hospital and Shenandoah Valley are excluded in both current and prior years. Highlands Behavioral is included in both current and prior years from March 1st through year to date. Dover Behavioral is included in both current and prior years from May 1st through year to date. Foundations Behavioral is included in both current and prior years from July 1st through year to date. Cottonwood Treatment is included in both current and prior years from August 1st through year to date. Broad Horizons, Highlander RTC, Midwest Youth and Vista Group Homes are excluded in both current and prior years from July 1st through year to date.

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE NINE MONTHS ENDED

SEPTEMBER 30, 2008

AS REPORTED:

ACUTE (1) BEHAVIORAL HEALTH

% %

09/30/08 09/30/07 change 09/30/08 09/30/07 change

Hospitals owned and

leased 22 21 4.8% 83 85 -2.4%

Average licensed beds 5,452 5,292 3.0% 7,629 7,269 5.0%

Patient days 892,689 869,860 2.6% 1,580,086 1,489,301 6.1%

Average daily census 3,258.0 3,186.3 2.2% 5,766.7 5,455.3 5.7%

Occupancy-licensed

beds 59.8% 60.2% -0.8% 75.6% 75.0% 0.7%

Admissions 198,685 193,589 2.6% 98,228 89,268 10.0%

Length of stay 4.5 4.5 -0.2% 16.1 16.8 -4.2%

Inpatient revenue $6,999,680 $6,299,927 11.1% $1,467,036 $1,339,098 9.6%

Outpatient revenue 2,748,382 2,532,815 8.5% 193,281 173,558 11.4%

Total patient

revenue 9,748,062 8,832,742 10.4% 1,660,317 1,512,656 9.8%

Other revenue 55,741 43,780 27.3% 26,234 21,938 19.6%

Gross hospital

revenue 9,803,803 8,876,522 10.4% 1,686,551 1,534,594 9.9%

Total deductions 7,027,440 6,317,760 11.2% 745,545 687,016 8.5%

Net hospital

revenue $2,776,363 $2,558,762 8.5% $941,006 $847,578 11.0%

SAME FACILITY:

ACUTE (2) BEHAVIORAL HEALTH (3)

% %

09/30/08 09/30/07 change 09/30/08 09/30/07 change

Hospitals owned and

leased 21 21 0.0% 81 81 0.0%

Average licensed beds 5,287 5,292 -0.1% 7,409 7,191 3.0%

Patient days 874,718 869,887 0.6% 1,537,496 1,472,453 4.4%

Average daily census 3,192.4 3,186.4 0.2% 5,611.3 5,393.6 4.0%

Occupancy-licensed

beds 60.4% 60.2% 0.3% 75.7% 75.0% 1.0%

Admissions 194,013 193,589 0.2% 96,574 89,136 8.3%

Length of stay 4.5 4.5 0.3% 15.9 16.5 -3.6%

(1) Acute care hospitals located in New Orleans and discontinued operations are excluded in 2007 and 2008.

(2) Acute care hospitals located in New Orleans, discontinued operations and Centennial Hills Hospital are excluded in current and prior years.

(3) Casa de Lago, Central Florida, Summit Ridge Hospital and Shenandoah Valley are excluded in both current and prior years. Highlands Behavioral is included in both current and prior years from March 1st through year to date. Dover Behavioral is included in both current and prior years from May 1st through year to date. Foundations Behavioral is included in both current and prior years from July 1st through year to date. Cottonwood Treatment is included in both current and prior years from August 1st through year to date. Broad Horizons, Highlander RTC, Midwest Youth and Vista Group Homes are excluded in both current and prior years from July 1st through year to date.


'/>"/>
SOURCE Universal Health Services, Inc.
Copyright©2008 PR Newswire.
All rights reserved


Related medicine news :

1. Turner Universal Awarded Contracts Totaling $227 Million to Manage Construction of Two Tennessee Healthcare Facilities
2. Release of Universal Film The Express Draws Attention to Tragedy of Lives Cut Short by Blood Cancer
3. LocumTenens.com Reaps Mixed Reviews on Universal Healthcare
4. Universal Health Services, Inc. Announces Sale of Acute Care Hospital and Addition of Two Behavioral Health Hospitals
5. ConsecoLifeOptions Launched by Conseco Insurance Company as New Universal Life Product
6. Athletes Study Shows Pride, Shame Universal Behaviors
7. Analyst Available to Comment on Gov. Bill Richardsons Universal Healthcare Proposal
8. Universal Health Services, Inc. Announces Dividend
9. U.S. Healthcare Professionals Speak Out on Universal Healthcare and the Presidential Candidates Platforms
10. Universal Health Realty Income Trust Announces Dividend Increase
11. Universal Health Realty Income Trust Reports 2008 First Quarter Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... ... February 08, 2016 , ... ... Human Nutrition into the Food & Beverage and Dietary Supplement ... channel partner throughout Canada and USA geographies east of the Rocky Mountains since ...
(Date:2/8/2016)... ... February 08, 2016 , ... The Valentine’s Season is famous for gift giving with flowers, chocolates ... they are loved. This year, for more than 5.6 million Americans suffering with Alzheimer’s, ... be enough to remind them of the lives they’ve led and the people they’ve touched. ...
(Date:2/8/2016)... ... February 08, 2016 , ... If you are feeling that your ... are not alone. According to the Center for Disease Control and Prevention (CDC), 34.9% ... diabetes and certain types of cancer, some of the leading causes of preventable death. ...
(Date:2/8/2016)... IN (PRWEB) , ... February 08, 2016 , ... ... the Indianapolis, IN metro area, has selected the latest beneficiary of their ongoing ... organization dedicated to preventing bullying in area schools. Donations are now being accepted ...
(Date:2/8/2016)... Atlanta, GA (PRWEB) , ... ... ... information technology and security executive networking and relationship-marketing firm, announced today that ... the 2016 Information Security Executive® (ISE®) West Awards. , Awards include ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... Feb. 8, 2016   HighPoint Solutions ... (NRG),s pharmacovigilance technology services division.  NRG is ... and an Oracle Argus Specialized partner, providing drug ... Sciences companies. --> ... life sciences capabilities and provides a global scale ...
(Date:2/8/2016)... 2016 http://www.researchandmarkets.com/research/x6mkjm/knee ) has ... Devices Market by Product Type (Primary (Cemented & ... Canada, Eu-5, Japan, Bric, Turkey, Indonesia - Global ... their offering. --> http://www.researchandmarkets.com/research/x6mkjm/knee ) ... Reconstruction Devices Market by Product Type (Primary (Cemented ...
(Date:2/8/2016)... , Feb. 8, 2016 /PRNewswire/--  Cell Applications, ... that advanced tissue-engineering services are now available in ... groundbreaking new three-dimensional (3D) bioprinting approach called the ... Bio Printer , a state-of-the-art robotic system that ... created a powerful pay-for-service bio-printing model that makes ...
Breaking Medicine Technology: