Dive Brief:

HCA Healthcare raised its full-year profit and revenue outlook on Friday after newly approved state supplemental payment programs in the third quarter helped boost the for-profit’s revenues past Wall Street expectations.

The operator now expects revenue between $75 billion and $76.5 billion, and net income between $6.5 billion and $6.72 billion for 2025.

Rising same-facility equivalent admissions and higher surgical volumes also contributed to HCA’s $19.2 billion in revenue for the third quarter — a 9.6% year-over-year increase.

Dive Insight:

Analysts questioned whether HCA’s new 2025 outlook might be cautious given its outperformance in the third quarter.

“The revised guide, we think, under a number of scenarios with [Medicaid state supplemental payment program] facto

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