The 59-hospital chain Healthcare Management Associates posted a 4.1% decline in profits for FY06 first quarter compared with the same quarter last year, according to a story in Modern Healthcare. Revenue was up 14.9%, but bad debt increased to 8.7% of revenue. HMA attributes profit loss to the hurricanes that affected its hospitals in Mississippi and Florida. The chain’s increased outpatient volume offset the 1.6% drop in inpatient admissions, while surgeries rose 2.1%. HMA is acquiring the 83-bed Cleveland Clinic Hospital in Naples, Fla., along with the hospital’s physician practice, and is constructing a 100-bed hospital near Naples.
