Medical Facilities Corporation Reports Higher Revenue After Arkansas Surgical Hospital Acquisition
Medical Facilities Corporation reported $72.9 million in revenue for the first quarter of 2013, with a 92.2 percent payout ratio.
Consolidated facility service revenue increased 23.7 percent from the same period last year, due to revenue from the recently acquired Arkansas Surgical Hospital. The company's two specialty hospitals and ambulatory surgery centers experienced a revenue decline from unfavorable case and payor mix, and a pain management case reduction.
Net income dropped when compared with the same period last year.
More Articles on Surgery Centers:
4 Ways for ASCs to Save Real Dollars on Human Resources
Outlook for ASC Development & Transactions: 8 Key Trends
10 Statistics on Orthopedic-Driven Surgery Center Operating Expenses
© Copyright ASC COMMUNICATIONS 2014. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
New From Becker's ASC Review
Texas Health Resources to build ASC at RockwallRead Now
- Consumer and clinician opinions on big data, telehealth and mHealth: 8 things to know
- Innovation's moral quandary: When am I obligated to reinvent the wheel?
- House Republicans sue Obama administration over PPACA: 5 things to know
- Just 1% of organizations will eliminate healthcare coverage, survey finds
- DOJ recovers $2.3B in healthcare False Claims Act cases in FY 2014