Nashville-based HCA’s first office, set up in 1968.
Huge Hospital Corporation of America said it expects tighter operating-profit margins for the third quarter because of higher labor costs and increased admissions of uninsured patients. Will we see similar situations for the other big chains?
HCA said it anticipates third quarter revenues of $9.856 billion, up from $9.220 billion last year. But it sees profit of $921 million before taxes, down from the $929 million in 2014’s third quarter.
The company noted reduced productivity and an increase in contract labor. Estimated labor costs rose as a percentage of revenues to 46.9 percent from the year-earlier 45.7 percent.
And it said that uninsured admissions rose to 8 percent of total admissions from the year-earlier 7.3 percent.