ValleyCare’s parent company shows gains during quarter
The parent company of the ValleyCare Hospital System reported Friday that its net operating revenue grew 9 percent during the fourth quarter of 2012 when compared to the same period in 2011.
Community Health Systems, Inc., reported net revenue totaled $3.3 billion, compared to $3 billion for the same period of 2011.
“Community Health Systems has continued to demonstrate success in a dynamic and challenging healthcare environment,” said Wayne T. Smith, chairman, president and chief executive officer for the company. ”Our results for 2012 confirm the strength of our operating model and our proven ability to execute our strategy to drive efficiencies in our hospitals, recruit and retain qualified physicians, make selective acquisitions and deliver high quality healthcare services in a cost-effective manner. As we look ahead to 2013, we will continue to pursue a strategy that delivers value to both our community partners and our shareholders.”
For the year, net operating revenue increased by 9.4 percent to reach $13 billion. On a same-store basis, net operating revenue was up 5.5 percent and 4.6 percent for the fourth quarter and year, respectively, Smith said.
Located in the Nashville, Tenn., Community Health Systems Inc. is one of the largest publicly traded hospital companies in the U.S. Through its subsidiaries, the company currently owns, leases or operates 135 hospitals in 29 states.