Community Health Systems' posts 4th quarter loss

Screenshot via chs.net.

Community Health Systems net operating revenue for 2015 jumped by more than 4 percent to $19.4 billion, an $800,000 million increase over the same period in 2014 when that year's net operating revenue totaled $18.6 billion, according to CHS's financial statement released on Monday.

The 4.3 percent increase includes the CHS acquisition of Health Management Associates, a transaction which closed on January 27, 2014. 

However, fourth quarter results were down by 2.4 percent, as the last three months of 2015 included legal settlements for several whistleblower cases and expenses related to the planned spin-off of Quorum Health Corp., CHS said.

[Also: Community Health Systems to acquire 80% stake in two Indiana University hospitals]

For the three month period ending December 31, 2015, net operating revenue totaled $4.7 billion, a 2.4 percent decrease compared with $4.9 billion for the same period in 2014, CHS said.

Quorum Health Corporation has 38 affiliated hospitals and related outpatient services in 16 states, and subsidiary Quorum Health Resources provides consulting services to non-affiliated hospitals. The transaction is expected to close during the first half of 2016.

Admissions also dropped in the last three months of 2015, by 3.6 percent, compared with the same period in 2014, CHS said. However, for the full year of 2015, CHS realized a 1.7 percent increase in admissions, and a 3.5 percent increase in total adjusted admissions, compared with the same period in 2014.

[Also: Prime foundation to buy Memorial Hospital of Salem County from Community Health Systems]

"The results for the fourth quarter of 2015 were affected by a number of factors, including volume weakness compared with a strong fourth quarter a year ago when we experienced higher emergency room visits and admissions attributed to respiratory illness and the flu," said Wayne T. Smith, chairman and CEO of Community Health Systems, Inc. "It is taking longer than expected to achieve operational improvements in some of the former HMA markets; however, we continue to see opportunities in these markets and remain convinced that performance will improve over time."

[Also: Community Health Systems moves forward with spin-off of Quorum Health, names CEO, CFO]

Franklin, Tennessee-based Community Health Systemsn is among of the largest publicly traded hospital companies in the nation. The organization owns, leases or operates 195 affiliated hospitals in 29 states. 

Twitter: @SusanJMorse