HCA Healthcare Inc's management on Friday forecast lower labor costs and a recovery in non-urgent procedures for 2023 as staffing trends improved following an exodus of nurses during the pandemic.
Stephens analyst Scott Fidel said HCA's additional planned investment of $150 million for this year, partly for the expansion of nursing schools, was the main driver of the miss.
"I think, relative to our model, the one primary difference that we had not anticipated was the additional investments."
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