HCAEdge

1
Jack Bovender Chairman and CEO Vic
Campbell Senior Vice President Mark
Kimbrough Vice President, Investor Relations
2
Cautionary Note Regarding Forward-looking
Statements
HCAs management will be making some
forward-looking statements during todays
presentation. Those forward-looking statements
are based on managements current expectations
and are subject to risks and uncertainties that
may cause those forward looking statements to be
materially incorrect. Certain of those risks
and uncertainties are discussed in HCAs filings
with the Securities and Exchange Commission,
including the companys report on Form 10-K and
its quarterly reports on form 10-Q, to which you
are referred. Management cautions you not to
rely on, and makes no promises to update any of
the forward looking statements.
3
Collective Knowledge

• 190,000 employees
• 190 hospitals
• 92 surgery centers
• 14 million patients treated annually
• 5.2 million emergency room visits annually

4
What Will Drive HCAs Future Success

• Aging Population and Improving Economy
• Located in Large, Growth Markets

• Capital Investments
• Enhanced Outpatient Strategy

• Quality and Patient Safety Initiatives

• Bad Debt Trends Improving/ Encouraging
• Stable Pricing Environment

• Prudent use of Companys Strong Cash Flows

5
Socio-DemographicsAge WaveDriving Healthcare
Utilization
Acute Care Utilization Index (2003100)
Baby Boomer Impact Accelerates
6
Improving unemployment rate in mid-2003 implies
mid-2005 rebound in admissions
4
4
3
5
2
1
6
0
7
-1
Inpatient Admissions Growth
Unemployment Rate
-2
8
2 Year Lagged
-3
Correlation
-4
2
9
- R
of 0.74 since 1980
2
- R
of 0.66 since 1978
-5
2
- R
of 0.48 since 1970
10
-6
1950
1955
1960
1965
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004YTD
Unemployment Rate
Inpatient Admissions Growth
Source American Hospital Association, Bureau of
Labor Statistics and Goldman Sachs Research
estimates.
7
HCA Hospitals Locatedin Growth Markets

• Generally 25-40
• Market Share
• 40 of facilities in
• Texas Florida

Kansas City 5
Denver 9
U.K.
Las Vegas 22
Switzerland
Richmond 8
Dallas/Ft. Worth 12
Nashville 8
Southern California 9
Panhandle 10
Palm Beach 11
Houston 10
Dade 8
Percent Growth in Market Population
2000-2005 Compared to the National Average of 4.5
Tampa Bay 8
Austin 18
8
HCA Capital Expenditures
Billions
2000 1.2
2001 1.4
2002 1.7
2003 1.8
2004 1.5
2005E 1.6
2.0
1.5
1.0
0.5
New Denver Facility
0.0
2000
2001
2002
2003
2004
2005E
Outpatient Services/MOBs 11/480M
Replacement Facilities 10/420M
New and Expanded Services 16/690M
Note Does not include potential new and
replacement facilities.
Land Improvements 12/505M
ER Services 8/325
Infrastructure Develop., ITS, Pat. Safety
Midwest Division
Shared Services
3 Facilities 511 Beds
Three Facilities 511 Beds
33 ER Expansions
Open Heart, Cardiology Oncology, etc.
33 ER Expansions
New Replacement Facilities
Open Heart, Cardiology Oncology, etc.
Facility Expansion Projects
Routine Capital
56 Facilities with Surgery and/or ICU/CCU
expansions
Three New Facilities 310 Beds
1611 New Beds
Three New Facilities-310 Beds
Distribution of Capital Dollars 2005 and Beyond
1,611 New Beds
Surgery/Special Units 21/875M
New Facilities 8/340M
Beds 14/590M
9
Outpatient Strategy Progressing
Transactions totaling 130 million
completed 2030 imaging center and 8-10 surgery
center transactions expected to be completed over
the next 12 months
Diversified Radiology (Denver) 4 imaging
centers/fifth under construction
Austin Radiology Assoc. 2 imaging centers
Sarah Cannon Research Institute (Nashville)
Thousand Oaks Diagnostic Imaging
First Health (Jacksonville)
Hope Cancer Centers (Tallahassee) 3 centers
Ultra Open MRI (Tampa) 6 centers
Millcreek Imaging Center Salt Lake City, UT
LAD Imaging Centers (Orange City, Deltona)
Total I Management, LLC (Tampa Bay Area) 5
imaging centers
MDI 7 Centers
10
Our Commitment to Patient Safety

• HCA Has
• Invested Over
• 300 Million In
• Patient Safety
• Technologies
• Since 97

11
Our Commitment to Patient Safety

• eMAR Barcoding
• Ensures the five Rs right patient, right
  medication, right dose, right time, right route
  of administration
• The benefit to our patients
• Prevents the error patients fear most getting
  the wrong medication

12
Our Commitment to Patient Safety

• Electronic Provider Order Management (ePOM)
• Allows physicians to input prescriptions and
  patient orders electronically and transmit them
  directly to a pharmacy or hospital department
• The benefit to our patients
• Eliminates the risk of a pharmacist or clinician
  misreading a physicians handwriting

13

• Satisfied Physicians
• HCA physicians rank our facilities higher than
  that of other hospitals across the country

Source Gallup Satisfaction Surveys 2003
14
Bad Debts and Charity
5B
916
1B
912
3,595
893
874
858
837
795
786
3,028
610
587
567
514
2,160
491
0
0
Bad Debts
Charity
Bad Debts
As reported
BD of Net Revenue BD Charity
of Gross Revenue excluding Uninsured
Discount Changes
15
Uninsured
HCA Financial History 2005.ppt
2000
2001
2002
2003
2004
2005
4.4 4.3 Jan Feb
4.4 4.3 4.5 Jan Feb
Mar
Uninsured Admissions Same Facility of Total
Admissions
_._ Mar
N/A
2004 9.7
4.3 4.6 1.2 Jan Feb
Mar
4.3 4.6 Jan Feb
_._ Mar
13.7 vs. PY
7.1 vs. PY
Uninsured Admissions Same Facility Chg from
Prior Year
11.5 vs. PY
3.7 vs. PY
15.2 vs. PY
2.4 vs. PY
3.3 vs. PY
7.2 vs. PY
7.5 vs. PY
20.4 20.9 Jan Feb
Uninsured ER Visits Same Facility of Total ER
Visits
_._ Mar
N/A
20.4 20.9 20.9 Jan Feb
Mar
16
Source of Revenue

• Medicare Government funded healthcare
  program for the elderly
• Managed Care Commercial/Private health
  insurance

Pricing increase of 3-4
Pricing increase of 6-7
17
Cash flow in 2005 Remains Positive
Net Cash Provided by Operating Activities1 Dollars
in Millions
6.6
2
Excluding settlements with government agencies
and investigation related costs.
1 1999-2003 are non-GAAP numbers 2 Q1 2005
18
In Summary We Have.
Great Assets
Excellent Investment Opportunities
Strong Cash Flows
Excellent Long-Term Earnings Growth Outlook
Prudent Financial Strategy Focused on Shareholder
Value