HMA reports higher earnings

NAPLES — Hospital operator Health Management Associates reported net income rose 57% to $48.3 million on revenues of $1.48 billion in the fourth quarter ending Dec. 31 compared with the same quarter one year ago.

However, the hospital company blamed a sluggish economy for a 4.7% drop in admissions at hospitals opened a year or longer. In addition, the percentage of uncompensated care for indigents and others rose to 28.7% of net revenue in the fourth quarter compared with 25.4% in the same quarter one year ago, the company says.

HMA recently announced a joint venture with Bayfront Health System in St. Petersburg. Once that is completed, the company will operate 71 hospitals with about 11,000 beds.