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HCA Healthcare's stock fell nearly 10% following the company's announcement of a lower-than-expected quarterly profit and a forecast indicating a potential $200 million to $300 million cost impact in the fourth quarter due to Hurricane Helene. The revenue decline was attributed to delays in medical procedures caused by the hurricane, which significantly affected the company's annual results. HCA's CEO acknowledged issues with pre-authorization denials, particularly with some large Medicare Advantage payers, although this was not cited as a primary cause for the revenue drop. The stock price decline reflects investor concerns over the broader implications for the healthcare sector amidst these challenges.
HCA Healthcare reported lower-than-expected quarterly profit on Friday and forecast up to a $300-million hit in the fourth quarter due to delays in medical procedures from recent hurricanes, causing its shares to drop 9%. https://t.co/eneS1Qjs9e https://t.co/eneS1Qjs9e
HCA Stock Plunges Nearly 10% After $50M Storm Impact - Is the Healthcare Sector in Trouble $HCA #stocks #investing #valueinvesting # https://t.co/jXjAe3E6hn
$HCA warns of $200M-$300M Q4 cost impact from Hurricane Helene, not including insurance. Though not blaming pre-auth denials as loudly as $CYH, on call CEO says it's an issue "and we have a few large Medicare Advantage payers that are significant outliers driving these denials." https://t.co/xljqtGZNiW
