On the heels of its 2017 financial report, Nobilis revealed a new in-network contract at its largest hospital.
Nobilis went in-network with one of the nation's largest commercial payers for First Surgical Hospital. The move is expected to have an impact on the company's 2018 revenue and could lead to additional deals in the future.
"Bringing First Surgical Hospital, Nobilis' highest volume hospital, in network with one of the largest commercial payers enhances our ability to provide high quality, concierge care to patients and physicians in the Houston market," said Kenneth Efird, president of Nobilis. "With this payer agreement each of Nobilis' 20 Texas facilities and clinics now has an in-network commercial payer contract."
Texas is the largest market for the company, comprising 85 percent of system revenue. Nobilis' 2017 revenue increased 4.9 percent over the previous year, but was disrupted by Hurricane Harvey and tax reform. The company lost $15 million to $20 million due to the hurricane, but sees 2018 as a growing year.
Last year, Nobilis acquired Elite Surgical and plans to make additional large in-network acquisitions in the future.
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