Universal Health Services Inc is a Delaware corporation organized in 1979. The Company through its subsidiaries is engaged in the business of owning and operating, acute care hospitals, behavioral health centers, surgical hospitals, ambulatory surgery centers and radiation oncology centers. It owned and/or operated 24 inpatient acute care hospitals, 3 free-standing emergency departments and 213 inpatient and 16 outpatient behavioral health care facilities located in 37 states, Washington, D.C., the United Kingdom, Puerto Rico and the U.S. Services provided by hospitals include general & specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services, pharmacy services and behavioral health services. It provides capital resources as well as management services to facilities, including central purchasing, information services, finance & control systems, facilities planning, physician recruitment services, administrative personnel management, marketing and public relations. Its reportable operating segments consist of acute care hospital services and behavioral health care services. The Other segment includes centralized services including information services, purchasing, reimbursement, accounting, taxation, legal, advertising, design & construction and patient accounting as well as the operating results for its other operating entities including outpatient surgery and radiation centers. All of the Company's acute care hospitals and its behavioral health centers are certified as providers of Medicare & Medicaid services by the appropriate governmental authorities. Medicare is a federal program that provides certain hospital and medical insurance benefits to persons aged 65 and over, some disabled persons and persons with end-stage renal disease. Medicaid is a joint federal-state funded health care benefit program that is administered by the states to provide benefits to qualifying individuals who are unable to afford care state Medicaid payments are made under a PPS-like system, or under programs that negotiate payment levels with individual hospitals. Its hospitals also provide services to individuals covered by private health care insurance. Private insurance carriers typically make direct payments to hospitals or, in some cases, reimburse their policy holders, based upon the particular hospital's established charges and the particular coverage provided in the insurance policy. Its hospitals provide services to individuals that do not have any form of health care coverage. Such patients are evaluated, at the time of service or shortly thereafter, for their ability to pay based upon federal and state poverty guidelines, qualifications for Medicaid or other state assistance programs, as well as its local hospital's indigent and charity care policy. It faces competition for acquisition candidates mainly from other for-profit health care companies, as well as from not-for-profit entities. All of the Company's hospitals are subject to compliance with various federal, state and local statutes and regulations and receive periodic inspection by state licensing agencies to review standards of medical care, equipment and cleanliness.
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