Company: UHS
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027785
Chunk: 302

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 302
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    17.9
    %

During 2024, as compared to 2023, net revenues from our behavioral health services, on a Same Facility basis, increased by $650 million or 10.7%.  Income before income taxes increased by $281 million, or 25.9%, amounting to $1.366 billion or 20.4% of net revenues during 2024, as compared to $1.085 billion or 17.9% of net revenues during 2023.  

During 2024, net revenue per adjusted admission increased by 9.8% while net revenue per adjusted patient day increased by 8.8%, as compared to 2023. During 2024, as compared to 2023, inpatient admissions and adjusted admissions to our behavioral health care hospitals increased by 1.0% and 0.7%, respectively.  Patient days at these facilities increased by 1.9% and adjusted patient days increased by 1.7% during 2024, as compared to 2023. The average length of inpatient stay at these facilities was 13.5 days and 13.4 days during 2024 and 2023, respectively. The occupancy rate, based on the average available beds at these facilities, was 73% and 72% during 2024 and 2023, respectively.  

On a Same Facility basis during 2024, as compared to 2023, salaries, wages and benefits expense increased $245 million or 7.3%.  The increase during 2024, as compared to 2023, was due to a 3.2% increase in salaries, wages and benefits expense per average full-time equivalent employee, as well as a 4.0% increase in the average number of full time equivalent employees. The increased staffing was due, in part, to increased patient volumes. As a percentage of net revenues during each year, salaries, wages and benefits expense decreased to 53.6% during 2024 as compared to 55.3% during 2023.   

Other operating expenses increased $94 million, or 8.0%, during 2024, as compared to 2023. Included in the increase, as discussed above in Results of Operations-Adjustments to Self-Insured Professional and General Liability Reserves, included in the other operating expenses of our behavioral health care services during 2024, as compared to 2023,