Admissions rebounded for Group Well being Methods within the second quarter, the 84-hospital system reported Wednesday.
Adjusted admissions elevated 28.5% on a same-store foundation for the quarter ended June 30, in contrast with the prior-year interval when the COVID-19 pandemic halted non-urgent procedures. However its 248,000 adjusted admissions on the quarter had been nonetheless down 22% from its 303,000 adjusted admissions within the second quarter of 2019.
CHS reported a internet revenue attributable to shareholders of $6 million on working income of $3 billion on the quarter, down from a internet revenue attributable to shareholders of $70 million on working income of $2.52 billion from the identical quarter in 2020.
“As COVID-19 instances declined throughout the second quarter, we skilled a strong rebound of non-COVID-19 affected person quantity,” CHS CEO Tim Hingtgen stated in ready remarks. “Our sturdy ends in the interval had been pushed by ongoing initiatives to draw new sufferers, together with efforts to re-engage and retain sufferers who’ve beforehand utilized our healthcare programs.”
CHS has divested 5 hospitals up to now this 12 months, along with the 13 it bought final 12 months. Its community of 84 hospitals is fewer than half its whole of 197 on the finish of 2014. Its beds in service decreased by greater than 14% from the second quarter of 2021 to the identical interval final 12 months.
CHS’ second-quarter working income beat Wall Road’s estimates by $60 million. It has acquired $712 million in HHS COVID-19 reduction funds as of June 30.