Five things to know:
1. Surgery Partners’ case volume decreased 3 percent from the same time period in 2019.
2. Adjusted revenues increased 9.9 percent year over year to hit $503.9 million, and same-facility revenues increased 8.4 percent from the prior year.
3. Net loss attributable to common stockholders was $71.6 million for the third quarter.
4. At the end of the quarter, Surgery Partners reported an adjusted-EBITDA, excluding CARES Act grants, increased approximately 7 percent from 2019 to hit $66.5 million.
5. Surgery Partners added 180 physicians to its facilities in the third quarter and has added more than 400 in 2020 to date.
Wayne DeVeydt, chair of the company’s board, said: “While our country and Company continue to respond to this pandemic and its impact on our communities, the Surgery Partners’ Board of Directors could not be more proud of the resiliency and perseverance our leadership team and front line associates continue to demonstrate during these unique times. We remain cautiously optimistic that we can continue to maintain our current trajectory for the fourth quarter of 2020 and we remain confident in our long-term growth model.”
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.