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Universal Health Services, Inc. Reports 2010 Third Quarter Financial Results; Expects to Complete Acquisition of Psychiatric Solutions, Inc. in November 2010
Consolidated Results of Operations - Three-month periods ended September 30, 2010 and 2009:

KING OF PRUSSIA, Pa., Oct 27, 2010 /PRNewswire via COMTEX/ --

Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS was $55.6 million, or $.57 per diluted share, during the third quarter of 2010 as compared to $51.1 million, or $.52 per diluted share, during the comparable prior year quarter. Net revenues increased 2.2% to $1.32 billion during the third quarter of 2010 as compared to $1.30 billion during the third quarter of 2009. Neutralizing the impact of the $17 million reduction to our net revenues and provision for doubtful accounts during the third quarter of 2010, as discussed below in Acute Care Services - Three-month periods, our net revenues increased 3.5% during the third quarter of 2010 as compared to the comparable prior year quarter.

After adjusting the reported results for the third quarter of 2010 to neutralize the impact of the below-mentioned adjustments (no such adjustments were applicable to the third quarter of 2009), our adjusted net income attributable to UHS was $53.7 million, or $.55 per diluted share.

As indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedules"), included in our net income attributable to UHS during the three-month period ended September 30, 2010, was net income of $1.9 million, or $.02 per diluted share, consisting of: (i) the unfavorable after-tax impact of $2.5 million, or $.02 per diluted share, resulting from the recording of transaction fees incurred in connection with our previously announced agreement to acquire Psychiatric Solutions, Inc. ("PSI"), offset by; (ii) a favorable discrete tax item $4.3 million, or $.04 per diluted share, related to the estimated non-deductible portion of the previously disclosed South Texas Health System settlement with the government.

Consolidated Results of Operations - Nine-month periods ended September 30, 2010 and 2009:

During the nine-month period ended September 30, 2010, our reported net income attributable to UHS was $193.0 million, or $1.96 per diluted share, as compared to $199.5 million, or $2.02 per diluted share, during the comparable prior year period. Net revenues increased 2.5% to $4.01 billion during the first nine months of 2010 as compared to $3.91 billion during the first nine months of 2009.

After adjusting the reported results for nine-month periods ended September 30, 2010 and 2009 to neutralize the impact of the below-mentioned adjustments, our adjusted net income attributable to UHS was $192.2 million, or $1.96 per diluted share, during the first nine months of 2010 as compared to $189.7 million, or $1.92 per diluted share, during the first nine months of 2009.

As indicated on the Supplemental Schedules, included in our net income attributable to UHS during the nine-month period ended September 30, 2010, were the following which, on a net aggregate basis, had no impact on our earnings per diluted share: (i) a favorable after-tax adjustment of $10.2 million, or $.10 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2010 based upon a reserve analysis; (ii) a favorable discrete tax item $4.3 million, or $.04 per diluted share, as mentioned above, offset by; (iii) the unfavorable after-tax impact of $13.7 million, or $.14 per diluted share, resulting from the recording of transaction fees incurred in connection with our agreement to acquire PSI.

As indicated on the attached Supplemental Schedules, included in our net income attributable to UHS during the nine-month periods ended September 30, 2009, was net income of $9.8 million, or $.10 per diluted share, consisting of: (i) a favorable after-tax adjustment of $14.1 million, or $.14 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2009 based upon a reserve analysis, partially offset by; (ii) an unfavorable discrete tax item of $4.3 million, or $.04 per diluted share, related to the South Texas Health System settlement.

Acute Care Services - Three-month periods ended September 30, 2010 and 2009:

At our acute care hospitals owned during both periods ("same facility basis"), adjusted admissions (adjusted for outpatient activity) increased 1.6% while adjusted patient days increased 1.5% during the third quarter of 2010, as compared to the third quarter of 2009. Net revenues at these facilities increased 1.9% during the third quarter of 2010 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission during the third quarter of 2010 increased 0.3% while net revenue per adjusted patient day increased 0.4% as compared to the comparable quarter of the prior year. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our acute care hospitals decreased to 12.9% during the third quarter of 2010 as compared to 13.1% during the third quarter of 2009.

We provide care to patients who meet certain financial or economic criteria without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $214 million and $169 million during the three-month periods ended September 30, 2010 and 2009, respectively. During the third quarter of 2010, we began classifying the charges associated with certain patients who met specific financial or economic criteria as charity care rather than as provision for doubtful accounts. Although this change in classification did not have any impact our net income attributable to UHS, it reduced our net revenues (by increasing the above-mentioned charity and uninsured discounts) and reduced our provision for doubtful accounts by approximately $17 million during the third quarter of 2010.

Acute Care Services - Nine-month periods ended September 30, 2010 and 2009:

During the nine-month period ended September 30, 2010, on a same facility basis, adjusted admissions increased 1.8% while adjusted patient days increased 0.8% over the comparable prior year period. Net revenues at these facilities increased 2.4% during the first nine months of 2010 as compared to the comparable period of the prior year. At these facilities, net revenue per adjusted admission increased 0.6% while net revenue per adjusted patient day increased 1.6% during the nine-month period ended September 30, 2010 as compared to the comparable period of the prior year. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our acute care hospitals decreased to 14.4% during the first nine months of 2010 as compared to 15.8% during the comparable period of the prior year.

Our acute care hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $580 million and $509 million during the nine-month periods ended September 30, 2010 and 2009, respectively.

Behavioral Health Care Services - Three-month periods ended September 30, 2010 and 2009:

At our behavioral health care facilities, on a same facility basis, adjusted admissions increased 3.1% and adjusted patient days increased 0.8% during the third quarter of 2010 as compared to the third quarter of 2009. Net revenues at these facilities increased 5.7% during the third quarter of 2010 as compared to the comparable quarter in the prior year. At these facilities, net revenue per adjusted admission during the third quarter of 2010 increased 2.6% while net revenue per adjusted patient day increased 4.9% as compared to the comparable prior year quarter. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our behavioral health care facilities increased to 25.9% during the third quarter of 2010 as compared to 24.7% during the third quarter of 2009.

"The continued strength of our behavioral health business reinforces our enthusiasm for the previously announced acquisition of Psychiatric Solutions, Inc.", said Alan B. Miller, Chief Executive Officer. "We are eager to complete the transaction in November and begin the integration of PSI's patients, employees and facilities into our company."

Behavioral Health Care Services - Nine-month periods ended September 30, 2010 and 2009:

During the nine-month period ended September 30, 2010, on a same facility basis, adjusted admissions increased 3.9% and adjusted patient days increased 2.2% as compared to the comparable period of 2009. Net revenues at these facilities increased 6.0% during the first nine months of 2010 as compared to the comparable prior year period. At these facilities, net revenue per adjusted admission increased 1.8% while net revenue per adjusted patient day increased 3.4% during the first nine months of 2010 over the comparable prior year period. On a same facility basis, excluding the items mentioned above and as included on the Supplemental Schedules, the operating margin at our behavioral health care facilities increased to 26.6% during the first nine months of 2010 as compared to 25.1% during the comparable period of 2009.

2010 Revised Full Year Guidance:

Based upon the operating trends and financial results experienced during the first nine months of 2010, and subject to certain assumptions, provisions and adjustments, including those as set forth below in General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures, we are decreasing the upper end of our estimated range of earnings per diluted share attributable to UHS for the year ended December 31, 2010. Our revised full year guidance for 2010 is $2.45 to $2.55 per diluted share from the previously provided range of $2.45 to $2.65 per diluted share.

This guidance range excludes the impact of our acquisition of PSI and the items as indicated on the attached Supplemental Schedules for the nine-month period ended September 30, 2010. The range also excludes the impact of other items, if applicable, that may occur during the fourth quarter of 2010 that are nonrecurring or non-operational in nature and other amounts that may be reflected in our 2010 financial statements that relate to prior periods.

Conference Call Information:

We will hold a conference call for investors and analysts at 9:00 a.m. eastern time on October 28, 2010. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on October 28, 2010 and will continue through midnight on November 11, 2010. The recording can be accessed by calling 1-800-642-1687 and entering the conference ID number 16881355. A live broadcast of the call will be available on our web site at www.uhsinc.com. The webcast will be available through Thompson StreetEvents Network at www.earnings.com or www.streetevents.com, a password-protected event management site for institutional investors.

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. ("UHS") is one of the nation's largest hospital companies operating, through its subsidiaries, acute care hospitals, behavioral healthcare facilities and ambulatory centers located throughout the United States and Puerto Rico. UHS acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2009 and in Item 2-Forward Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended June 30, 2010), may cause the results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine our future results are beyond our capability to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking statements which reflect management's view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

We believe that operating income, operating margin, adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share and earnings before interest, taxes, depreciation and amortization ("EBITDA"), which are non-GAAP financial measures ("GAAP" is Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of items that are nonrecurring or non-operational in nature including items such as, but not limited to, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and other amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2009 and Report on Form 10-Q for the quarterly period ended June 30, 2010. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.

(more)

Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)





Three months


Nine months


ended September 30,


ended September 30,


2010


2009


2010


2009









Net revenues

$1,323,264


$1,295,109


$4,008,732


$3,911,168









Operating charges:








Salaries, wages and benefits

572,742


558,244


1,715,220


1,641,491

Other operating expenses

258,388


253,792


754,530


759,907

Supplies expense

180,024


171,652


543,766


522,030

Provision for doubtful accounts

133,467


141,086


402,621


380,734

Depreciation and amortization

55,530


51,205


163,066


153,424

Lease and rental expense

18,429


17,253


54,548


51,912


1,218,580


1,193,232


3,633,751


3,509,498









Income from operations

104,684


101,877


374,981


401,670









Interest expense, net

11,478


10,780


36,132


35,297









Income before income taxes

93,206


91,097


338,849


366,373









Provision for income taxes

27,404


32,043


113,870


131,308









Net income

65,802


59,054


224,979


235,065









Less: Income attributable to








noncontrolling interests

10,192


7,980


31,978


35,557









Net income attributable to UHS

$55,610


$51,074


$193,001


$199,508

















































Basic earnings per share attributable to UHS (a)

$0.57


$0.52


$1.99


$2.03









Diluted earnings per share attributable to UHS (a)

$0.57


$0.52


$1.96


$2.02

Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)







Three months


Nine months


ended September 30,


ended September 30,


2010


2009


2010


2009









(a) Earnings per share calculation:
















Basic and diluted:








Net income attributable to UHS

$55,610


$51,074


$193,001


$199,508

Less: Net income attributable to unvested restricted share grants

(233)


(217)


(826)


(912)

Net income attributable to UHS - basic and diluted

$55,377


$50,857


$192,175


$198,596









Weighted average number of common shares - basic

96,777


97,774


96,673


97,962









Basic earnings per share attributable to UHS:

$0.57


$0.52


$1.99


$2.03









Weighted average number of common shares

96,777


97,774


96,673


97,962

Add: Other share equivalents

1,158


730


1,140


378

Weighted average number of common shares and equiv. - diluted

97,935


98,504


97,813


98,340









Diluted earnings per share attributable to UHS:

$0.57


$0.52


$1.96


$2.02

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule")

For the three months ended September 30, 2010 and 2009

(in thousands, except per share amounts)

(unaudited)



Three months ended


Three months ended


September 30, 2010


September 30, 2009

















Net revenues

$1,323,264


100.0%


$1,295,109


100.0%









Operating charges:








Salaries, wages and benefits

572,742


43.3%


558,244


43.1%

Other operating expenses

258,388


19.5%


253,792


19.6%

Supplies expense

180,024


13.6%


171,652


13.3%

Provision for doubtful accounts

133,467


10.1%


141,086


10.9%


1,144,621


86.5%


1,124,774


86.8%









Operating income/margin

178,643


13.5%


170,335


13.2%









Lease and rental expense

18,429




17,253



Income attributable to noncontrolling interests

10,192




7,980











Earnings before, depreciation and amortization, interest expense, and income taxes

150,022




145,102











Depreciation and amortization

55,530




51,205



Interest expense, net

11,478




10,780











Income before income taxes

83,014




83,117











Provision for income taxes

27,404




32,043



Net income attributable to UHS

$55,610




$51,074












Three months ended


Three months ended


September 30, 2010


September 30, 2009




Per




Per


Amount


Diluted Share


Amount


Diluted Share

Calculation of Adjusted Net Income Attributable to UHS








Net income attributable to UHS

$55,610


$0.57


$51,074


$0.52

Plus/minus adjustments:








Acquisition transaction costs, net of income taxes

2,454


0.02


-


-

Favorable discrete tax item

(4,331)


(0.04)


-


-

Subtotal after-tax adjustments to net income attributable to UHS

(1,877)


(0.02)


-


-

Adjusted net income attributable to UHS

$53,733


$0.55


$51,074


$0.52

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ("Supplemental Schedule")

For the nine months ended September 30, 2010 and 2009

(in thousands, except per share amounts)

(unaudited)



Nine months ended


Nine months ended


September 30, 2010


September 30, 2009

















Net revenues

$4,008,732


100.0%


$3,911,168


100.0%









Operating charges:








Salaries, wages and benefits

1,715,220


42.8%


1,641,491


42.0%

Other operating expenses

754,530


18.8%


759,907


19.4%

Supplies expense

543,766


13.6%


522,030


13.3%

Provision for doubtful accounts

402,621


10.0%


380,734


9.7%


3,416,137


85.2%


3,304,162


84.5%









Operating income/margin

592,595


14.8%


607,006


15.5%









Lease and rental expense

54,548




51,912



Income attributable to noncontrolling interests

31,978




35,557











Earnings before, depreciation and amortization, interest expense, and income taxes

506,069




519,537











Depreciation and amortization

163,066




153,424



Interest expense, net

36,132




35,297











Income before income taxes

306,871




330,816











Provision for income taxes

113,870




131,308



Net income attributable to UHS

$193,001




$199,508












Nine months ended


Nine months ended


September 30, 2010


September 30, 2009




Per




Per


Amount


Diluted Share


Amount


Diluted Share

Calculation of Adjusted Net Income Attributable to UHS








Net income attributable to UHS

$193,001


$1.96


$199,508


$2.02

Plus/minus adjustments:








Reduction of reserves relating to prior years for professional and general liability








self-insured claims, net of income taxes

(10,198)


(0.10)


(14,168)


(0.14)

Acquisition transaction costs, net of income taxes

13,742


0.14


-


-

(Favorable) Unfavorable discrete tax item

(4,331)


(0.04)


4,331


0.04

Subtotal after-tax adjustments to net income attributable to UHS

(787)


-


(9,837)


(0.10)

Adjusted net income attributable to UHS

$192,214


$1.96


$189,671


$1.92

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands, unaudited)





As revised (a)



September 30,



December 31,



2010



2009

Assets






Current assets:






Cash and cash equivalents

$

9,629


$

9,180

Restricted cash (b)


256,972



0

Accounts receivable, net


609,083



602,559

Supplies


84,708



84,272

Other current assets


52,091



27,270

Deferred income taxes


66,420



51,336

Current assets held for sale


0



21,580

Total current assets


1,078,903



796,197







Property and equipment


3,869,644



3,738,818

Less: accumulated depreciation


(1,552,164)



(1,423,580)



2,317,480



2,315,238







Other assets:






Goodwill


732,340



732,685

Deferred charges


13,841



8,643

Other


125,150



111,700


$

4,267,714


$

3,964,463







Liabilities and Stockholders' Equity






Current liabilities:






Current maturities of long-term debt (c)

$

401,673


$

2,573

Accounts payable and accrued liabilities


611,753



578,617

Federal and state taxes


0



1,627

Total current liabilities


1,013,426



582,817







Other noncurrent liabilities


353,386



375,580

Long-term debt


614,923



956,429

Deferred income taxes


94,913



60,091







Redeemable noncontrolling interest


202,929



197,152







UHS common stockholders' equity


1,943,572



1,751,071

Noncontrolling interest


44,565



41,323

Total equity


1,988,137



1,792,394








$

4,267,714


$

3,964,463







(a) We have revised our Condensed Consolidated Balance Sheet at December 31, 2009 to reclassify $197.2 million of noncontrolling interests, which are redeemable outside of our control, from total equity to mezzanine equity. This revision did not affect UHS's common stockholders' equity. We do not believe this revision is material to the Condensed Consolidated Balance Sheet at December 31, 2009.


(b) Consists of the proceeds, plus certain other related amounts, generated from the issuance of $250 million of 7% senior notes that mature on October 1, 2018.These funds are being held in escrow until the earlier of either December 31, 2010 or the satisfaction of certain conditions of escrow, most notably the completion of the acquisition of Psychiatric Solutions, Inc. ("PSI") which we expect to occur in November, 2010.


(c) Includes $150 million of borrowings outstanding pursuant to our $800 million revolving credit agreement that is scheduled to expire on July 28, 2011 and the $250 million of 7% senior notes as mentioned in (b) above. In connection with the consummation of our planned acquisition of PSI, we obtained a debt financing commitment of $3.45 billion under a senior credit facility, consisting of an $800 million revolving credit facility, a $1.05 billion term loan A facility and a $1.6 billion term loan B facility.The senior credit facility will become effective upon the closing of the acquisition of PSI which we expect to occur in November, 2010.We plan to use proceeds from the senior credit facility to repay the outstanding borrowings under our existing revolving credit facility. Upon the closing of the acquisition of PSI, the $250 million 7% senior notes mentioned in (b) above will be reclassified to long-term debt.

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)


Nine months


ended September 30,


2010


2009



Cash Flows from Operating Activities:




Net income

$224,979


$235,065

Adjustments to reconcile net income to net




cash provided by operating activities:




Depreciation & amortization

163,066


153,424

Net gain on sale of assets and noncontrolling interests

(1,993)


0

Stock-based compensation expense

12,678


9,691

Changes in assets & liabilities, net of effects from




acquisitions and dispositions:




Accounts receivable

(6,751)


20,747

Construction management and other receivable

0


13,697

Accrued interest

8,437


10,712

Accrued and deferred income taxes

(2,656)


10,824

Other working capital accounts

26,697


40,434

Other assets and deferred charges

(15,742)


3,716

Other

(4,556)


(2,150)

Accrued insurance expense, net of commercial premiums paid

32,770


31,321

Payments made in settlement of self-insurance claims

(37,330)


(43,206)

Net cash provided by operating activities

399,599


484,275





Cash Flows from Investing Activities:




Property and equipment additions, net of disposals

(177,750)


(278,825)

Proceeds received from sale of assets

21,460


818

Restricted cash related to bond issuance held in escrow pending completion of PSI acquisition

(256,972)


0

Acquisition of property and business

0


(9,006)

Net cash used in investing activities

(413,262)


(287,013)





Cash Flows from Financing Activities:




Reduction of long-term debt

(194,600)


(143,844)

Additional borrowings

250,000


170

Financing costs

(5,016)


0

Repurchase of common shares

(3,963)


(15,467)

Dividends paid

(14,555)


(11,821)

Issuance of common stock

5,204


1,568

Profit distributions to noncontrolling interests

(23,558)


(19,698)

Proceeds from sale of noncontrolling interest in majority owned business

600


0

Net cash provided by (used in) financing activities

14,112


(189,092)





Increase in cash and cash equivalents

449


8,170

Cash and cash equivalents, beginning of period

9,180


5,460

Cash and cash equivalents, end of period

$9,629


$13,630





Supplemental Disclosures of Cash Flow Information:




Interest paid

$33,584


$32,357





Income taxes paid, net of refunds

$113,521


$120,429


Universal Health Services, Inc.

Supplemental Statistical Information

(un-audited)



















% Change


% Change





Quarter Ended


9 months ended

Same Facility:




9/30/2010


9/30/2010








Acute Care Hospitals







Revenues




1.9%


2.4%

Adjusted Admissions




1.6%


1.8%

Adjusted Patient Days




1.5%


0.8%

Revenue Per Adjusted Admission




0.3%


0.6%

Revenue Per Adjusted Patient Day




0.4%


1.6%















Behavioral Health Hospitals














Revenues




5.7%


6.0%

Adjusted Admissions




3.1%


3.9%

Adjusted Patient Days




0.8%


2.2%

Revenue Per Adjusted Admission




2.6%


1.8%

Revenue Per Adjusted Patient Day




4.9%


3.4%

































UHS Consolidated


Third Quarter Ended


Nine months Ended



9/30/2010


9/30/2009


9/30/2010


9/30/2009










Revenues


$1,323,264


$1,295,109


$4,008,732


$3,911,168

EBITDA (1)


150,022


145,102


506,069


519,537

EBITDA Margin (1)


11.3%


11.2%


12.6%


13.3%










Cash Flow From Operations


180,229


183,436


399,599


484,275

Days Sales Outstanding


42


42


41


42

Capital Expenditures


56,110


95,577


177,750


278,825










Debt (4)






759,624


855,188

UHS Shareholders Equity






1,943,572


1,728,194

Debt / Total Capitalization (4)






28.1%


33.1%

Debt / EBITDA (2) (4)






1.14


1.31

Debt / Cash From Operations (2) (4)






1.69


1.52



















Acute Care EBITDAR Margin (3)


12.9%


13.1%


14.9%


16.6%

Behavioral Health EBITDAR Margin (3)


25.7%


24.5%


26.4%


25.1%



















(1) Net of Minority Interest and before prior year self insurance reserve adjustments (net of taxes) booked in 2010 and 2009 and transaction related expenses (net of taxes) booked in 2010

(2) Latest 4 quarters

(3) Before Corporate overhead allocation, minority interest and prior year self insurance reserve adjustment booked in 2009

(4) Net of restricted cash

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

SEPTEMBER 30, 2010









AS REPORTED:

























ACUTE


BEHAVIORAL HEALTH


09/30/10

09/30/09

% change


09/30/10

09/30/09

% change









Hospitals owned and leased

21

21

0.0%


84

84

0.0%

Average licensed beds

5,689

5,465

4.1%


7,983

7,977

0.1%

Patient days

279,523

280,269

-0.3%


537,860

532,228

1.1%

Average daily census

3,038.3

3,046.4

-0.3%


5,846.3

5,785.1

1.1%

Occupancy-licensed beds

53.4%

55.7%

-4.2%


73.2%

72.5%

1.0%

Admissions

64,969

65,082

-0.2%


36,564

35,005

4.5%

Length of stay

4.3

4.3

-0.1%


14.7

15.2

-3.3%









Inpatient revenue

$2,687,619

$2,380,103

12.9%


$550,613

$524,713

4.9%

Outpatient revenue

1,246,661

1,038,772

20.0%


78,354

68,577

14.3%

Total patient revenue

3,934,280

3,418,875

15.1%


628,967

593,290

6.0%

Other revenue

16,878

17,229

-2.0%


6,875

7,357

-6.6%

Gross hospital revenue

3,951,158

3,436,104

15.0%


635,842

600,647

5.9%









Total deductions

2,985,351

2,488,456

20.0%


285,114

271,315

5.1%









Net hospital revenue

$965,807

$947,648

1.9%


$350,728

$329,332

6.5%

























SAME FACILITY:

























ACUTE


BEHAVIORAL HEALTH (1)


09/30/10

09/30/09

% change


09/30/10

09/30/09

% change









Hospitals owned and leased

21

21

0.0%


82

82

0.0%

Average licensed beds

5,689

5,465

4.1%


7,880

7,825

0.7%

Patient days

279,523

280,269

-0.3%


534,630

529,442

1.0%

Average daily census

3,038.3

3,046.4

-0.3%


5,811.2

5,754.8

1.0%

Occupancy-licensed beds

53.4%

55.7%

-4.2%


73.7%

73.5%

0.3%

Admissions

64,969

65,082

-0.2%


36,134

34,993

3.3%

Length of stay

4.3

4.3

-0.1%


14.8

15.1

-2.2%

































(1) Ascent, Crescent Pines and the Hope program are excluded in both current and prior years

Coastal Behavioral is included in March 1st thru year to date. Centennial Peaks is included in July 1st thru year to date. Springwoods Behavioral is included in September 1st thru year to date.

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE NINE MONTHS ENDED

SEPTEMBER 30, 2010









AS REPORTED:

























ACUTE


BEHAVIORAL HEALTH


09/30/10

09/30/09

% change


09/30/10

09/30/09

% change









Hospitals owned and leased

21

21

0.0%


84

84

0.0%

Average licensed beds

5,689

5,465

4.1%


7,978

7,556

5.6%

Patient days

871,525

877,231

-0.7%


1,621,239

1,575,698

2.9%

Average daily census

3,192.4

3,213.3

-0.7%


5,938.6

5,771.8

2.9%

Occupancy-licensed beds

56.1%

58.8%

-4.6%


74.4%

76.4%

-2.6%

Admissions

199,815

199,226

0.3%


109,494

103,025

6.3%

Length of stay

4.4

4.4

-0.9%


14.8

15.3

-3.2%









Inpatient revenue

$8,095,552

$7,430,016

9.0%


$1,649,535

$1,552,640

6.2%

Outpatient revenue

3,535,220

3,081,566

14.7%


238,318

209,218

13.9%

Total patient revenue

11,630,772

10,511,582

10.6%


1,887,853

1,761,858

7.2%

Other revenue

51,868

54,399

-4.7%


22,507

23,608

-4.7%

Gross hospital revenue

11,682,640

10,565,981

10.6%


1,910,360

1,785,466

7.0%









Total deductions

8,753,512

7,705,648

13.6%


853,442

801,392

6.5%









Net hospital revenue

$2,929,128

$2,860,333

2.4%


$1,056,918

$984,074

7.4%

























SAME FACILITY:

























ACUTE


BEHAVIORAL HEALTH (1)


09/30/10

09/30/09

% change


09/30/10

09/30/09

% change









Hospitals owned and leased

21

21

0.0%


82

82

0.0%

Average licensed beds

5,689

5,465

4.1%


7,798

7,724

1.0%

Patient days

871,525

877,231

-0.7%


1,603,138

1,565,737

2.4%

Average daily census

3,192.4

3,213.3

-0.7%


5,872.3

5,735.3

2.4%

Occupancy-licensed beds

56.1%

58.8%

-4.6%


75.3%

74.3%

1.4%

Admissions

199,815

199,226

0.3%


106,953

102,972

3.9%

Length of stay

4.4

4.4

-0.9%


15.0

15.2

-1.4%

























(1) Ascent, Crescent Pines and the Hope program are excluded in both current and prior years

Coastal Behavioral is included in March 1st thru year to date. Centennial Peaks is included in July 1st thru year to date. Springwoods Behavioral is included in September 1st thru year to date.

SOURCE Universal Health Services, Inc.

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