(Updates comparison in paragraph 4 to reflect updated Refinitiv data and share movement)
April 21 (Reuters) - HCA Healthcare Inc on Friday reported better-than-expected results and raised its forecast for 2023 on improved staffing that has allowed the hospital operator to conduct more surgeries, lifting its shares by over 7% in premarket trade.
A spate of resignations by healthcare staff last year due to pandemic-related fatigue left hospitals high and dry, forcing them to hire workers at premiums. But the costs have begun to normalize as staff shortages are minimized and workflows optimized.
Hospital bellwether HCA saw a moderation of its staffing costs, with salaries and benefit expenses accounting for 45.4% of its revenue, 1 percentage point lower than the number last year.
In the first quarter, the company reported an adjusted profit of $4.53 per share, according to Refinitiv calculations, compared with estimates of $3.93 per share.
Increased staffing helped HCA's inpatient surgery cases rise 2.8% and outpatient surgery cases climb 3.5%.
The company reported revenue of $15.59 billion, compared with analysts' expectation of $15.27 billion.
It now sees its 2023 adjusted profit in the range of $17.25 to $18.55 per share, above its previous forecast of $16.40 to $17.60.
It also raised its revenue forecast range to $62.5 billion to $64.5 billion. (Reporting by Aditya Samal and Leroy Leo in Bengaluru; Editing by Shinjini Ganguli)
