Tennessee-Based Community Health Systems Faces a Lawsuit Over a 2020 Bankruptcy Filing
Franklin, Tenn.-based Community Health Systems, which operates 83 hospitals in 16 states, saw revenues decline in the third quarter of this year but ended the period with higher net income. The hospital operator released its third-quarter earnings two days after being sued over the 2020 bankruptcy of a company it spun off.
In financial documents released Oct. 27, CHS said revenues and admissions were down in the three months ended Sept. 30. Revenues fell less than 1 percent year over year to $3.1 billion and admissions declined 5.5 percent. On a same-hospital basis, admissions were up 2.8 percent and revenues climbed 7.1 percent compared to the third quarter of 2020.
CHS hospitals saw the greatest number of COVID-19 patients to date in the third quarter of this year, CEO Tim Hingtgen said in an earnings release.
