Company: THC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000070318-25-000009
Chunk: 33

Company: TENET HEALTHCARE CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 33
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 0.6%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. Our Hospital Operations segment’s net operating revenues decreased by $552 million, or 3.3%, for the year ended December 31, 2024 as compared to 2023. Excluding the impact of the sales of the Divested Hospitals, net operating revenues in our Hospital Operations segment increased $1.127 billion, or 8.1%, during the year ended December 31, 2024 compared to the year ended December 31, 2023. This increase was driven by a more favorable payer mix, higher patient volumes and acuity, growth in our Medicaid supplemental revenue and negotiated commercial rate increases.

During the year ended December 31, 2024, net operating revenues in our Ambulatory Care segment increased by $669 million, or 17.3%, as compared to 2023. This growth was primarily attributable to incremental revenues from newly acquired ASCs, net of the impact of the closure and deconsolidation of certain facilities, increases in net revenue per case and higher patient acuity.

RESULTS OF OPERATIONS BY SEGMENT

Our operations are reported in two segments:

•Hospital Operations, which is comprised of our acute care and specialty hospitals, a network of employed physicians and ancillary outpatient facilities, as well as the revenue cycle management and value-based care services that we provide to hospitals, health systems, physician practices, employers and other clients; and

•Ambulatory Care, which is comprised of USPI’s ASCs and surgical hospitals.

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Table of Contents

Hospital Operations Segment

The following tables present operating statistics, revenues and expenses of our hospitals and related outpatient facilities on a same‑hospital basis, unless otherwise indicated:

Same-Hospital Years Ended December 31,Increase(Decrease)Admissions, Patient Days and Surgeries20242023Number of hospitals47 47 — (1)Total admissions460,541 439,776 4.7 %Adjusted admissions833,221 813,060 2.5 %Paying admissions (excludes charity and uninsured)439,671 419,929 4.7 %Charity and uninsured admissions20,870 19,847 5.2 %Admissions through emergency department344,300 330,489 4.2 %Paying admissions as a percentage of total admissions95.5