(Reuters) – HCA Healthcare Inc on Friday forecast lower-than-expected profit for this year, citing impact from the COVID-19 pandemic and high inflation.
People usually delay non-urgent medical procedures, which provide high margins for hospitals, during weak macroeconomic conditions, like high inflation.
A prolonged COVID-19 pandemic has resulted in a nationwide shortage of healthcare staff, which has kept hospital operators from resuming high-margin elective procedures at full pace.
The hospital operator forecast its 2023 adjusted profit in the range of $16.40 to $17.60 per share, lower than analysts’ average expectation of $18.23, according to Refinitiv IBES data.
(Reporting by Khushi Mandowara and Leroy Leo in Bengaluru; Editing by Shinjini Ganguli)
