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HCA Holdings' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: HCA

As an example, behavioral health and inpatient rehab admissions each increased approximately 14% during the quarter. We have now experienced 19 consecutive quarters of positive equivalent admissions growth. Additionally, we continue to experience favorable growth trends in emergency visit volumes. As reported, emergency visit growth was 13.4% and 8.8% on a same facility basis. This performance is important in driving our overall admission levels since approximately 65% of our admissions come through our emergency department. Also, Sam will update in his remarks market share information.

The Company reported favorable cash flows from operations in the second quarter totaling 1.46 billion. For the first six months of 2012, cash flow from operations totaled $2.257 billion. Capital expenditures totaled $449 million in the quarter and our leverage ratio, which was 4.46 times at the end of last year, has improved to 4.2 times at the end of the second quarter.

I’d also like to mention Parallon’s recent agreement with LifePoint Hospitals to provide full revenue cycle outsourcing and full service purchasing and accounts payable sourcing services for their hospitals. We also extended our IT service agreement with LifePoint by four years and we are pleased with Parallon’s success over this past year and believe Parallon is well positioned to deliver solutions to improve cost efficiency and cash flow to other healthcare providers.

Now before turning the call over to Milton, let me just add that we do expect a story, possibly two, to run in the New York Times as early as this week. Based on the feedback we’ve received and the questions we’ve been asked, we believe the stories will include several topic areas: first, our ownership structure; second, the quality of care including medical necessity for cardiac services at certain of our Florida hospitals and wound care; our use of the ACEP – American College of Emergency Physicians – evaluation and management guidelines in our emergency departments; and our approach to care for the uninsured. Obviously, we do not know the precise contents of the story but to give you some context as you consider the article, we are posting some related information on our website.

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