HCA Healthcare, one of the largest private health systems in Florida, reported a nearly $32 million increase in its year-over-year revenue for 2018, while its fourth-quarter earnings jumped 6 percent to $12.27 billion.
For the year, revenue totaled $46.68 billion, up from $43.61 billion in 2017.
The health care system owns nearly 50 hospitals and emergency rooms in Florida, including four hospitals in Central Florida:
- The 221-bed Central Florida Regional Hospital in Sanford
- The 404-bed Osceola Regional Medical Center in Kissslmee
- The 76-bed Poinciana Medical Center
- The 64-bed Oviedo Medical Center
HCA also is building a freestanding ER in Sanford, set to open in a few days; plus one in Baldwin Park, which will open this spring; and another one near the Mall at Millenia in Orlando set to open this year. HCA also has an existing freestanding ER in Hunter's Creek.
The $11.6 million facility at 4525 International Parkway broke ground on March 2, 2018.
The company said in a Jan. 29 investor call that it expects 2019 revenue to range between $50.5 billion and $51.5 billion. It recently finalized the $1.5 billion purchase of Mission HealthCare, a nonprofit health care system in Asheville, North Carolina. “2018 was another strong year for HCA Healthcare. We have now grown our same facilities inpatient admissions in 19 consecutive quarters. The strategic investments in our business to expand our network and improve our clinical capabilities are making it easier for patients to get high quality, convenient patient care in an HCA facility,” said CEO Sam Hazen during the investor call.
The company reported a net income for 2018 of $3.8 billion, or $10.66 per share, compared to $2.2 billion for the same time last year. Results for 2018 include $428 million in revenue from the sale of facilities. For 2018’s fourth quarter, HCA’s net income was $1.064 billion, $3.01 per share.
Admissions for the Nashville-based corporation jumped by 1.7 percent for the year, although emergency room visits declined by 1.8 percent and inpatient surgeries dropped 0.6 percent.
HCA (NYSE: HCA) claimed a tax benefit of $551 million on its net income for the year, excluding gains and losses on facility sales and retirement debt. Its cash flows from operating activities totaled $2.2 billion in 2018, compared to $1.7 billion the prior year.
Part of the health care giant’s year-end numbers, despite the increase in revenue, can be attributed to a $70 million reduction in its reserves for professional liability risks. The company also incurred additional expenses and losses of revenues estimated at $31 million, prior to any insurance recoveries, due to Hurricane Michael’s impact on the state’s panhandle facilities.
Current acute care beds
| Rank | Prior Rank | Hospital |
|---|---|---|
1 | 1 | Florida Hospital |
2 | 2 | Orlando Regional Medical Center |
3 | 3 | Osceola Regional Medical Center |
