HCA Healthcare, Inc. 10-Q

MD&A

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Continued) 2026 2025 Emergency room visits(g): Quarter: First 2,509,083 2,518,716 Second 2,526,147 2,439,763 Third 2,477,474 Fourth 2,511,009 Year 9,946,962 Outpatient surgeries(h): Quarter: First 240,061 246,620 Second 246,947 258,365 Third 253,426 Fourth 264,401 Year 1,022,812 Inpatient surgeries(i): Quarter: First 133,262 133,759 Second 133,041 136,122 Third 138,563 Fourth 136,961 Year 545,405 Days revenues in accounts receivable(j): Quarter: First 53 54 Second 55 51 Third 50 Fourth 51 Outpatient revenues as a % of patient revenues(k): Quarter: First 37 % 37 % Second 34 % 38 % Third 38 % Fourth 40 % Year 38 % (a) Licensed beds are those beds for which a facility has been granted approval to operate from the applicable state licensing agency. (b) Represents the average number of beds in service, weighted based on periods owned. (c) Represents the average number of patients in our hospital beds each day. (d) Represents the total number of patients admitted to our hospitals and is used by management and certain investors as a general measure of inpatient volume. (e) Equivalent admissions are used by management and certain investors as a general measure of combined inpatient and outpatient volume. Equivalent admissions are computed by multiplying admissions (inpatient volume) by the sum of gross inpatient revenues and gross outpatient revenues and then dividing the resulting amount by gross inpatient revenues. The equivalent admissions computation “equates” outpatient revenues to the volume measure (admissions) used to measure inpatient volume resulting in a general measure of combined inpatient and outpatient volume. (f) Represents the average number of days admitted patients stay in our hospitals. (g) Represents the number of patients treated in our emergency rooms. (h) Represents the number of surgeries performed on patients who were not admitted to our hospitals. Pain management and endoscopy procedures are not included in outpatient surgeries. (i) Represents the number of surgeries performed on patients who have been admitted to our hospitals. Pain management and endoscopy procedures are not included in inpatient surgeries. (j) Revenues per day is calculated by dividing revenues for the quarter by the days in the quarter. Days revenues in accounts receivable is