Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
HCA's hospitals are closing the books on a profitable Q3, despite the pandemic. Photo: Rusty Russell/Getty Images
HCA Healthcare is giving back $1.6 billion of federal bailout payments and paying back $4.4 billion in Medicare loans early. The money was intended to help hospitals weather the pandemic as patients delayed elective care.
Why it matters: Over the summer, the hospital industry said the pandemic was resulting in "the greatest financial crisis we have ever faced in our history." But HCA expects to report higher revenue and adjusted profits in the third quarter.
By the numbers: The taxpayer bailout payments represented 55% of HCA's profit in the second quarter.
- Hospitals and other health care providers secured $175 billion in bailouts from Congress since the start of the pandemic.
What they're saying: HCA CEO Sam Hazen said in a press release that returning the funds and repaying the loans early was "appropriate and the socially responsible thing to do."
What we're watching: Finances at other large hospital systems similarly improved in the second quarter, compared with the first quarter.
- That trend likely could continue as more people rescheduled surgeries and saw their doctors, despite the persistence of coronavirus cases throughout the country.