UHS sees prof­its rise in ’09, but ex­pects tougher 2010

Modern Healthcare - - Late News -

Uni­ver­sal Health Ser­vices, King of Prus­sia, Pa., re­ported higher prof­its for 2009, but warned of head­winds that will weigh on 2010 prof­its. Uni­ver­sal re­ported net in­come of $60.9 mil­lion in the fourth quar­ter, up 31% from the year-ago pe­riod. Rev­enue in­creased 4.3%, to $1.29 bil­lion. For 2009, net in­come in­creased 30.6%, to $260.4 mil­lion. Rev­enue in 2009 was $5.2 bil­lion, up 3.6%. Com­par­ing the fourth quar­ters of 2009 and 2008 on a same-fa­cil­ity ba­sis, acute-care ad­mis­sions in­creased 1.8% and be­hav­ioral-health ad­mis­sions in­creased 4.2%. Steve Fil­ton, Uni­ver­sal’s se­nior vice pres­i­dent and chief fi­nan­cial of­fi­cer, said the com­pany com­bined the li­censes of its hos­pi­tals in Ed­in­burg and McAllen, Texas, a few years ago to boost its Texas Med­i­caid re­im­burse­ments, but now those rates have been ad­justed, as ex­pected. Also in McAllen, the loss of ob­stet­ric cases to a physi­cian-owned com­peti­tor led to a drop in the com­pany’s Med­i­caid dis­pro­por­tion­ate-share pay­ments in Texas, Fil­ton said. 2010’s net in­come also will be hit by a lack of projects for the com­pany’s construction man­age­ment sub­sidiary, UHS Build­ing So­lu­tions. Com­bined, th­ese two fac­tors will pro­duce a $28 mil­lion drag on prof­its in 2010. mon­i­tor­ing at HHS, the FDA and else­where and as­sess whether reg­u­la­tors re­quire ad­di­tional au­thor­ity. Grass­ley, who pre­vi­ously had asked roughly 30 hos­pi­tals for in­for­ma­tion on health IT and sur­veyed ven­dors in Oc­to­ber 2009, also re­leased a let­ter to the Health­care In­for­ma­tion and Man­age­ment Sys­tems So­ci­ety. Grass­ley asked the trade group to re­spond by March 10 to ques­tions about rec­om­men­da­tions put for­ward in 1997 for vol­un­tary and reg­u­la­tory over­sight of health IT.

Fil­ton

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