CHS shrinks loss in fourth quarter

Community Health Systems boosted its operating revenues 12.9% in the quarter ended Dec. 31 to $3.453 billion, up from $3.059 billion in the fourth quarter of 2017. The increased revenue helped the Brentwood, Tenn.-based for-profit chain reduce its quarterly loss significantly, which fell to $328 million, compared with the year-earlier loss of $2.013 billion.

Same store admissions decreased 0.5% in the quarter compared to a year earlier.

CHS officials said that they anticipate further progress in the coming year.

“During 2018, our market leaders made significant progress across areas such as our patient safety and connectivity, competitive position in core markets, and operational efficiency,” said Wayne Smith, chairman and CEO, in a news release. “In 2019, we believe that we have a number of opportunities to further leverage these strategic initiatives to drive incremental growth, and achieve additional progress as we further strengthen our core portfolio and reduce our debt.”

CHS completed 11 hospital sales in 2018 and sold 3 more in 2019. The company closed three others in 2018.

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