Company: THC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000070318-25-000046
Chunk: 57

Company: TENET HEALTHCARE CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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596$120.07 5,596

NOTE 9. NET OPERATING REVENUES

Net operating revenues for our Hospital Operations and Ambulatory Care segments primarily consist of net patient service revenues, principally for patients covered by Medicare, Medicaid, and managed care and other health plans, as well as certain uninsured patients under our Compact with Uninsured Patients and other uninsured discount and charity programs. Net operating revenues for our Hospital Operations segment also include revenues from providing revenue cycle management and value‑based care services to hospitals, health systems, physician practices, employers and other clients, as well as income recognized under grant programs.

14

The table below presents our sources of net operating revenues:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Hospital Operations:  Net patient service revenues from hospitals and related outpatient facilities:Medicare$512 $504 $1,590 $1,632 Medicaid404 342 1,163 1,123 Managed care2,374 2,425 7,197 7,464 Uninsured15 10 50 40 Indemnity and other157 148 395 439 Total3,462 3,429 10,395 10,698 Other revenues(1)552 558 1,649 1,629 Total Hospital Operations4,014 3,987 12,044 12,327 Ambulatory Care1,275 1,139 3,739 3,275 Net operating revenues$5,289 $5,126 $15,783 $15,602 (1)Primarily revenue from physician practices and revenue cycle management.Adjustments for prior‑year cost reports and related valuation allowances, principally related to Medicare and Medicaid, increased revenues in the nine months ended September 30, 2025 by $24 million, but did not result in a change in revenues during the nine months ended September 30, 2024. Estimated cost report settlements receivable, net of payables and valuation allowances, were included in accounts receivable in the accompanying Condensed Consolidated Balance Sheets (see Note 2). We believe that we have made adequate provision for any adjustments that may result from the final determination of amounts earned under all the above arrangements with Medicare and Medicaid.The table below presents the composition of net operating revenues for our Ambulatory Care segment:Three Months EndedSeptember 30,Nine Months