Exhibit 99.1
Three Months Ended | ||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||
2004 | 2004 | 2004 | 2003 | |||||||||||||
Consolidated Statements of Operations: (in thousands, except per share data) | ||||||||||||||||
Net revenue | $ | 164,821 | $ | 162,137 | $ | 152,754 | $ | 138,466 | ||||||||
Operating expenses: | ||||||||||||||||
Personnel expense | 50,930 | 50,341 | 47,599 | 42,623 | ||||||||||||
Medical supplies expense | 46,662 | 46,597 | 41,720 | 38,226 | ||||||||||||
Bad debt expense | 11,877 | 9,088 | 8,502 | 11,280 | ||||||||||||
Other operating expenses | 33,148 | 34,280 | 33,652 | 28,432 | ||||||||||||
Pre-opening expenses | — | — | 2,087 | 3,016 | ||||||||||||
Depreciation | 9,503 | 10,388 | 9,900 | 9,184 | ||||||||||||
Amortization | 290 | 290 | 290 | 290 | ||||||||||||
Loss (gain) on disposal of property, equipment and other assets | 113 | 35 | 26 | (85 | ) | |||||||||||
Impairments of long-lived assets | 7,227 | — | — | — | ||||||||||||
Total operating expenses | 159,750 | 151,019 | 143,776 | 132,966 | ||||||||||||
Income from operations | 5,071 | 11,118 | 8,978 | 5,500 | ||||||||||||
Other income (expenses): | ||||||||||||||||
Interest expense | (7,741 | ) | (6,280 | ) | (6,147 | ) | (5,711 | ) | ||||||||
Interest and other income, net | 245 | 216 | 160 | 233 | ||||||||||||
Loss on debt refinancing | (5,072 | ) | — | — | — | |||||||||||
Equity in net earnings of unconsolidated affiliates | 916 | 900 | 1,147 | 577 | ||||||||||||
Total other expenses, net | (11,652 | ) | (5,164 | ) | (4,840 | ) | (4,901 | ) | ||||||||
Income (loss) from continuing operations before minority interest, taxes and discontinued operations | (6,581 | ) | 5,954 | 4,138 | 599 | |||||||||||
Minority interest share of (earnings) losses of consolidated subsidiaries | (3,381 | ) | (2,852 | ) | 65 | (711 | ) | |||||||||
Income (loss) from continuing operations before income taxes and discontinued operations | (9,962 | ) | 3,102 | 4,203 | (112 | ) | ||||||||||
Income tax expense (benefit) | (3,923 | ) | 1,045 | 1,621 | (45 | ) | ||||||||||
Income (loss) from continuing operations | (6,039 | ) | 2,057 | 2,582 | (67 | ) | ||||||||||
Income (loss) from discontinued operations | (672 | ) | (677 | ) | 59 | (866 | ) | |||||||||
Net income (loss) | $ | (6,711 | ) | $ | 1,380 | $ | 2,641 | $ | (933 | ) | ||||||
Earnings (loss) per share, basic | ||||||||||||||||
Continuing operations | $ | (0.33 | ) | $ | 0.12 | $ | 0.15 | $ | (0.00 | ) | ||||||
Discontinued operations | $ | (0.04 | ) | $ | (0.04 | ) | $ | 0.00 | $ | (0.05 | ) | |||||
Earnings (loss) per share, basic | $ | (0.37 | ) | $ | 0.08 | $ | 0.15 | $ | (0.05 | ) | ||||||
Earnings (loss) per share, diluted | ||||||||||||||||
Continuing operations | $ | (0.33 | ) | $ | 0.11 | $ | 0.14 | $ | (0.00 | ) | ||||||
Discontinued operations | $ | (0.04 | ) | $ | (0.04 | ) | $ | 0.00 | $ | (0.05 | ) | |||||
Earnings (loss) per share, diluted | $ | (0.37 | ) | $ | 0.07 | $ | 0.14 | $ | (0.05 | ) | ||||||
Weighted average number of shares, basic | 18,014 | 17,990 | 17,985 | 17,949 | ||||||||||||
Dilutive effect of stock options | — | 826 | 514 | — | ||||||||||||
Weighted average number of shares, diluted | 18,014 | 18,816 | 18,499 | 17,949 | ||||||||||||
Consolidated Balance Sheet Data:(in thousands) | ||||||||||||||||
Cash and cash equivalents | $ | 69,855 | $ | 87,967 | $ | 80,864 | $ | 78,051 | ||||||||
Working capital | 102,681 | 102,820 | 56,291 | 60,506 | ||||||||||||
Total assets | 754,236 | 773,072 | 779,955 | 747,516 | ||||||||||||
Long-term debt and capital leases, excluding current maturities | 351,097 | 314,845 | 298,360 | 290,085 | ||||||||||||
Other long-term obligations | 1,620 | 2,236 | 3,094 | 2,649 | ||||||||||||
Stockholders’ equity | 263,648 | 269,714 | 267,228 | 264,625 | ||||||||||||
Selected Operating Data (consolidated) (a): | ||||||||||||||||
Number of hospitals | 10 | 10 | 10 | 8 | ||||||||||||
Licensed beds (d) | 612 | 612 | 612 | 520 | ||||||||||||
Staffed and available beds (e) | 536 | 541 | 525 | 464 | ||||||||||||
Admissions (f) | 10,156 | 9,834 | 9,533 | 8,674 | ||||||||||||
Adjusted admissions (g) | 12,979 | 12,388 | 11,902 | 10,837 | ||||||||||||
Patient days (h) | 34,329 | 33,730 | 34,065 | 31,243 | ||||||||||||
Adjusted patient days (i) | 43,617 | 42,405 | 42,493 | 39,033 | ||||||||||||
Average length of stay (j) | 3.38 | 3.43 | 3.57 | 3.6 | ||||||||||||
Occupancy (k) | 69.6 | % | 68.5 | % | 72.1 | % | 73.2 | % | ||||||||
Inpatient catheterization procedures | 5,357 | 5,284 | 4,920 | 4,189 | ||||||||||||
Inpatient surgical procedures | 2,687 | 2,611 | 2,511 | 2,183 | ||||||||||||
Selected Operating Data (same facility) (b): | ||||||||||||||||
Number of hospitals | 8 | 8 | 7 | 7 | ||||||||||||
Licensed beds (d) | 520 | 520 | 462 | 462 | ||||||||||||
Staffed and available beds (e) | 471 | 471 | 429 | 428 | ||||||||||||
Admissions (f) | 9,112 | 8,935 | 8,799 | 8,288 | ||||||||||||
Adjusted admissions (g) | 11,777 | 11,352 | 10,952 | 10,304 | ||||||||||||
Patient days (h) | 30,969 | 30,808 | 31,708 | 30,131 | ||||||||||||
Adjusted patient days (i) | 39,756 | 39,040 | 39,452 | 37,496 | ||||||||||||
Average length of stay (j) | 3.4 | 3.45 | 3.6 | 3.64 | ||||||||||||
Occupancy (k) | 71.5 | % | 71.9 | % | 81.2 | % | 76.5 | % | ||||||||
Inpatient catheterization procedures | 4,580 | 4,610 | 4,457 | 3,948 | ||||||||||||
Inpatient surgical procedures | 2,461 | 2,417 | 2,271 | 2,050 | ||||||||||||
Selected Operating Data (same facility — as of subsequent comparable period end date) (c): | ||||||||||||||||
Number of hospitals | 10 | 10 | 8 | 8 | ||||||||||||
Licensed beds (d) | 612 | 612 | 520 | 520 | ||||||||||||
Staffed and available beds (e) | 536 | 541 | 471 | 464 | ||||||||||||
Admissions (f) | 10,156 | 9,834 | 9,244 | 8,674 | ||||||||||||
Adjusted admissions (g) | 12,979 | 12,388 | 11,552 | 10,837 | ||||||||||||
Patient days (h) | 34,329 | 33,730 | 33,115 | 31,243 | ||||||||||||
Adjusted patient days (i) | 43,617 | 42,405 | 41,352 | 39,033 | ||||||||||||
Average length of stay (j) | 3.38 | 3.43 | 3.58 | 3.6 | ||||||||||||
Occupancy (k) | 69.6 | % | 68.5 | % | 78.1 | % | 73.2 | % | ||||||||
Inpatient catheterization procedures | 5,357 | 5,284 | 4,715 | 4,189 | ||||||||||||
Inpatient surgical procedures | 2,687 | 2,611 | 2,426 | 2,183 |
(a) | Selected operating data includes consolidated hospitals in operation as of the end of period reported in continuing operations but does not include hospitals which were accounted for using the equity method or as discontinued operations in our consolidated financial statements. | |
(b) | Selected operating data includes those consolidated hospitals that were open and operational for the three months ending each quarter of fiscal year 2004 that were also operational for the three months ending the same quarter of fiscal year 2003. | |
(c) | Selected operating data includes those consolidated hospitals that were open and operational for the three months ending each quarter of fiscal year 2004 that were also operational for the three months ending the same quarter of fiscal year 2005. | |
(d) | Licensed beds represent the number of beds for which the appropriate state agency licenses a facility regardless of whether the beds are actually available for patient use. | |
(e) | Staffed and available beds represent the number of beds that are readily available for patient use at the end of the period. | |
(f) | Admissions represent the number of patients admitted for inpatient treatment. | |
(g) | Adjusted admissions is a general measure of combined inpatient and outpatient volume. We computed adjusted admissions by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by admissions. | |
(h) | Patient days represent the total number of days of care provided to inpatients. | |
(i) | Adjusted patient days is a general measure of combined inpatient and outpatient volume. We computed adjusted patient days by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by patient days. | |
(j) | Average length of stay (days) represents the average number of days inpatients stay in our hospitals. | |
(k) | We computed occupancy by dividing patient days by the number of days in the period and then dividing the quotient by the number of staffed and available beds. |
Three Months Ended | ||||||||||||||||
September 30, | June 30, | March 31, | December 31, | |||||||||||||
2005 | 2005 | 2005 | 2004 | |||||||||||||
Consolidated Statements of Operations: | ||||||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Net revenue | $ | 175,547 | $ | 179,787 | $ | 176,074 | $ | 168,295 | ||||||||
Operating expenses: | ||||||||||||||||
Personnel expense | 55,010 | 53,893 | 53,864 | 52,117 | ||||||||||||
Medical supplies expense | 48,512 | 51,047 | 50,234 | 47,532 | ||||||||||||
Bad debt expense | 14,340 | 13,874 | 11,743 | 10,446 | ||||||||||||
Other operating expenses | 35,490 | 36,286 | 35,852 | 35,178 | ||||||||||||
Pre-opening expenses | — | — | — | — | ||||||||||||
Depreciation | 10,379 | 9,034 | 8,937 | 9,243 | ||||||||||||
Amortization | 290 | 290 | 290 | 290 | ||||||||||||
Loss (gain) on disposal of property, equipment and other assets | (824 | ) | 148 | 55 | 1 | |||||||||||
Impairments of long-lived assets | 2,662 | — | — | — | ||||||||||||
Total operating expenses | 165,859 | 164,572 | 160,975 | 154,807 | ||||||||||||
Income from operations | 9,688 | 15,215 | 15,099 | 13,488 | ||||||||||||
Other income (expenses): | ||||||||||||||||
Interest expense | (8,705 | ) | (8,440 | ) | (7,813 | ) | (7,876 | ) | ||||||||
Interest and other income, net | 1,175 | 868 | 613 | 389 | ||||||||||||
Equity in net earnings of unconsolidated affiliates | 802 | 899 | 886 | 769 | ||||||||||||
Total other expenses, net | (6,728 | ) | (6,673 | ) | (6,314 | ) | (6,718 | ) | ||||||||
Income from continuing operations before minority interest, taxes and discontinued operations | 2,960 | 8,542 | 8,785 | 6,770 | ||||||||||||
Minority interest share of earnings of consolidated subsidiaries | (3,611 | ) | (3,956 | ) | (4,402 | ) | (3,999 | ) | ||||||||
Income (loss) from continuing operations before income taxes and discontinued operations | (651 | ) | 4,586 | 4,383 | 2,771 | |||||||||||
Income tax expense (benefit) | (101 | ) | 1,952 | 1,755 | 1,107 | |||||||||||
Income (loss) from continuing operations | (550 | ) | 2,634 | 2,628 | 1,164 | |||||||||||
Income (loss) from discontinued operations | (1,751 | ) | 115 | 1,175 | 2,876 | |||||||||||
Net income (loss) | $ | (2,301 | ) | $ | 2,749 | $ | 3,803 | $ | 4,540 | |||||||
Earnings (loss) per share, basic | ||||||||||||||||
Continuing operations | $ | (0.03 | ) | $ | 0.14 | $ | 0.15 | $ | 0.09 | |||||||
Discontinued operations | $ | (0.09 | ) | $ | 0.01 | $ | 0.06 | $ | 0.16 | |||||||
Earnings (loss) per share, basic | $ | (0.12 | ) | $ | 0.15 | $ | 0.21 | $ | 0.25 | |||||||
Earnings (loss) per share, diluted | ||||||||||||||||
Continuing operations | $ | (0.03 | ) | $ | 0.13 | $ | 0.14 | $ | 0.09 | |||||||
Discontinued operations | $ | (0.09 | ) | $ | 0.01 | $ | 0.06 | $ | 0.15 | |||||||
Earnings (loss) per share, diluted | $ | (0.12 | ) | $ | 0.14 | $ | 0.20 | $ | 0.24 | |||||||
Weighted average number of shares, basic | 18,493 | 18,425 | 18,177 | 18,045 | ||||||||||||
Dilutive effect of stock options | — | 1,248 | 1,285 | 932 | ||||||||||||
Weighted average number of shares, diluted | 18,493 | 19,673 | 19,462 | 18,977 | ||||||||||||
Consolidated Balance Sheet Data: | ||||||||||||||||
(in thousands) | ||||||||||||||||
Cash and cash equivalents | $ | 140,842 | $ | 140,317 | $ | 121,703 | $ | 113,927 | ||||||||
Working capital | 135,101 | 124,678 | 124,373 | 150,680 | ||||||||||||
Total assets | 763,205 | 770,704 | 771,858 | 763,048 | ||||||||||||
Long-term debt and capital leases, excluding current maturities | 299,401 | 298,509 | 313,327 | 348,558 | ||||||||||||
Other long-term obligations | 497 | 808 | 829 | 1,204 | ||||||||||||
Stockholders’ equity | 282,741 | 283,508 | 278,094 | 269,499 | ||||||||||||
Selected Operating Data (consolidated) (a): | ||||||||||||||||
Number of hospitals | 10 | 10 | 10 | 10 | ||||||||||||
Licensed beds (c) | 612 | 612 | 612 | 612 | ||||||||||||
Staffed and available beds (d) | 578 | 571 | 571 | 571 | ||||||||||||
Admissions (e) | 10,482 | 10,364 | 10,788 | 9,967 | ||||||||||||
Adjusted admissions (f) | 13,694 | 13,555 | 14,008 | 12,790 | ||||||||||||
Patient days (g) | 35,039 | 36,281 | 39,186 | 34,271 | ||||||||||||
Adjusted patient days (h) | 45,465 | 47,202 | 50,788 | 43,689 | ||||||||||||
Average length of stay (i) | 3.34 | 3.50 | 3.63 | 3.44 | ||||||||||||
Occupancy (j) | 65.9 | % | 69.8 | % | 76.3 | % | 65.2 | % | ||||||||
Inpatient catheterization procedures | 5,616 | 5,457 | 5,427 | 5,336 | ||||||||||||
Inpatient surgical procedures | 2,816 | 2,915 | 2,964 | 2,616 | ||||||||||||
Selected Operating Data (same facility) (b): | ||||||||||||||||
Number of hospitals | 10 | 10 | 8 | 8 | ||||||||||||
Licensed beds (c) | 612 | 612 | 520 | 520 | ||||||||||||
Staffed and available beds (d) | 578 | 571 | 487 | 487 | ||||||||||||
Admissions (e) | 10,482 | 10,364 | 9,568 | 8,950 | ||||||||||||
Adjusted admissions (f) | 13,694 | 13,555 | 12,597 | 11,626 | ||||||||||||
Patient days (g) | 35,039 | 36,281 | 34,759 | 30,457 | ||||||||||||
Adjusted patient days (h) | 45,465 | 47,202 | 45,668 | 39,345 | ||||||||||||
Average length of stay (i) | 3.34 | 3.50 | 3.63 | 3.40 | ||||||||||||
Occupancy (j) | 65.9 | % | 69.8 | % | 79.3 | % | 68.0 | % | ||||||||
Inpatient catheterization procedures | 5,616 | 5,457 | 4,577 | 4,628 | ||||||||||||
Inpatient surgical procedures | 2,816 | 2,915 | 2,683 | 2,372 |
(a) | Selected operating data includes consolidated hospitals in operation as of the end of period reported in continuing operations but does not include hospitals which were accounted for using the equity method or as discontinued operations in our consolidated financial statements. | |
(b) | Selected operating data includes those consolidated hospitals that were open and operational for the three months ending each quarter of fiscal year 2005 that were also operational for the three months ending the same quarter of fiscal year 2004. | |
(c) | Licensed beds represent the number of beds for which the appropriate state agency licenses a facility regardless of whether the beds are actually available for patient use. | |
(d) | Staffed and available beds represent the number of beds that are readily available for patient use at the end of the period. | |
(e) | Admissions represent the number of patients admitted for inpatient treatment. | |
(f) | Adjusted admissions is a general measure of combined inpatient and outpatient volume. We computed adjusted admissions by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by admissions. | |
(g) | Patient days represent the total number of days of care provided to inpatients. | |
(h) | Adjusted patient days is a general measure of combined inpatient and outpatient volume. We computed adjusted patient days by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by patient days. | |
(i) | Average length of stay (days) represents the average number of days inpatients stay in our hospitals. | |
(j) | We computed occupancy by dividing patient days by the number of days in the period and then dividing the quotient by the number of staffed and available beds. |
Three Months Ended | ||||||||||||
June 30, | March 31, | December 31, | ||||||||||
2006 | 2006 | 2005 | ||||||||||
Consolidated Statements of Operations: | ||||||||||||
(in thousands, except per share data) | ||||||||||||
Net revenue | $ | 189,832 | $ | 192,488 | $ | 171,836 | ||||||
Operating expenses: | ||||||||||||
Personnel expense | 58,033 | 67,934 | 55,244 | |||||||||
Medical supplies expense | 52,657 | 53,915 | 48,163 | |||||||||
Bad debt expense | 14,228 | 16,788 | 13,389 | |||||||||
Other operating expenses | 37,916 | 37,868 | 38,339 | |||||||||
Pre-opening expenses | — | — | — | |||||||||
Depreciation | 9,366 | 9,264 | 9,171 | |||||||||
Amortization | 252 | 252 | 252 | |||||||||
Loss (gain) on disposal of property, equipment and other assets | (296 | ) | (38 | ) | 97 | |||||||
Impairments of long-lived assets | 451 | — | — | |||||||||
Total operating expenses | 172,607 | 185,983 | 164,655 | |||||||||
Income from operations | 17,225 | 6,505 | 7,181 | |||||||||
Other income (expenses): | ||||||||||||
Interest expense | (7,870 | ) | (8,899 | ) | (9,059 | ) | ||||||
Interest and other income, net | 2,977 | 1,367 | 1,404 | |||||||||
Equity in net earnings of unconsolidated affiliates | 1,408 | 1,410 | 1,065 | |||||||||
Total other expenses, net | (3,485 | ) | (6,122 | ) | (6,590 | ) | ||||||
Income from continuing operations before minority interest, taxes and discontinued operations | 13,740 | 383 | 591 | |||||||||
Minority interest share of earnings of consolidated subsidiaries | (4,742 | ) | (4,790 | ) | (2,818 | ) | ||||||
Income (loss) from continuing operations before income taxes and discontinued operations | 8,998 | (4,407 | ) | (2,227 | ) | |||||||
Income tax expense (benefit) | 3,649 | (1,766 | ) | (890 | ) | |||||||
Income (loss) from continuing operations | 5,349 | (2,641 | ) | (1,337 | ) | |||||||
Income (loss) from discontinued operations | (439 | ) | 701 | 4 | ||||||||
Net income (loss) | $ | 4,910 | $ | (1,940 | ) | $ | (1,333 | ) | ||||
Earnings (loss) per share, basic | ||||||||||||
Continuing operations | $ | 0.28 | $ | (0.14 | ) | $ | (0.07 | ) | ||||
Discontinued operations | $ | (0.02 | ) | $ | 0.04 | $ | — | |||||
Earnings (loss) per share, basic | $ | 0.26 | $ | (0.10 | ) | $ | (0.07 | ) | ||||
Earnings (loss) per share, diluted | ||||||||||||
Continuing operations | $ | 0.27 | $ | (0.14 | ) | $ | (0.07 | ) | ||||
Discontinued operations | $ | (0.02 | ) | $ | 0.04 | $ | — | |||||
Earnings (loss) per share, diluted | $ | 0.25 | $ | (0.10 | ) | $ | (0.07 | ) | ||||
Weighted average number of shares, basic | 18,630 | 18,618 | 18,501 | |||||||||
Dilutive effect of stock options and restricted stock | 661 | — | — | |||||||||
Weighted average number of shares, diluted | 19,291 | 18,618 | 18,501 | |||||||||
Consolidated Balance Sheet Data: | ||||||||||||
(in thousands) | ||||||||||||
Cash and cash equivalents | $ | 144,561 | $ | 124,855 | $ | 135,315 | ||||||
Working capital | 155,460 | 140,164 | 146,450 | |||||||||
Total assets | 767,515 | 758,168 | 762,962 | |||||||||
Long-term debt and capital leases, excluding current maturities | 298,087 | 300,278 | 313,374 | |||||||||
Other long-term obligations | 319 | 307 | 341 | |||||||||
Stockholders’ equity | 299,480 | 291,919 | 282,533 | |||||||||
Selected Operating Data (consolidated) (a): | ||||||||||||
Number of hospitals | 10 | 10 | 10 | |||||||||
Licensed beds (c) | 612 | 612 | 612 | |||||||||
Staffed and available beds (d) | 595 | 600 | 607 | |||||||||
Admissions (e) | 11,115 | 11,484 | 10,388 | |||||||||
Adjusted admissions (f) | 14,494 | 14,825 | 13,504 | |||||||||
Patient days (g) | 35,508 | 38,820 | 35,169 | |||||||||
Adjusted patient days (h) | 46,318 | 50,245 | 45,578 | |||||||||
Average length of stay (i) | 3.19 | 3.38 | 3.39 | |||||||||
Occupancy (j) | 65.6 | % | 71.9 | % | 63.0 | % | ||||||
Inpatient catheterization procedures | 5,838 | 5,983 | 5,208 | |||||||||
Inpatient surgical procedures | 2,920 | 3,103 | 2,679 | |||||||||
Selected Operating Data (same facility) (b): | ||||||||||||
Number of hospitals | 10 | 10 | 10 | |||||||||
Licensed beds (c) | 612 | 612 | 612 | |||||||||
Staffed and available beds (d) | 595 | 600 | 607 | |||||||||
Admissions (e) | 11,115 | 11,484 | 10,388 | |||||||||
Adjusted admissions (f) | 14,494 | 14,825 | 13,504 | |||||||||
Patient days (g) | 35,508 | 38,820 | 35,169 | |||||||||
Adjusted patient days (h) | 46,318 | 50,245 | 45,578 | |||||||||
Average length of stay (i) | 3.19 | 3.38 | 3.39 | |||||||||
Occupancy (j) | 65.6 | % | 71.9 | % | 63.0 | % | ||||||
Inpatient catheterization procedures | 5,838 | 5,983 | 5,208 | |||||||||
Inpatient surgical procedures | 2,920 | 3,103 | 2,679 |
(a) | Selected operating data includes consolidated hospitals in operation as of the end of period reported in continuing operations but does not include hospitals which were accounted for using the equity method or as discontinued operations in our consolidated financial statements. | |
(b) | Selected operating data includes those consolidated hospitals that were open and operational for the three months ending each quarter of fiscal year 2006 that were also operational for the three months ending the same quarter of fiscal year 2005. | |
(c) | Licensed beds represent the number of beds for which the appropriate state agency licenses a facility regardless of whether the beds are actually available for patient use. | |
(d) | Staffed and available beds represent the number of beds that are readily available for patient use at the end of the period. | |
(e) | Admissions represent the number of patients admitted for inpatient treatment. | |
(f) | Adjusted admissions is a general measure of combined inpatient and outpatient volume. We computed adjusted admissions by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by admissions. | |
(g) | Patient days represent the total number of days of care provided to inpatients. | |
(h) | Adjusted patient days is a general measure of combined inpatient and outpatient volume. We computed adjusted patient days by dividing gross patient revenue by gross inpatient revenue and then multiplying the quotient by patient days. | |
(i) | Average length of stay (days) represents the average number of days inpatients stay in our hospitals. | |
(j) | We computed occupancy by dividing patient days by the number of days in the period and then dividing the quotient by the number of staffed and available beds. |