HCA adds 2 ASCs in 2017, plans to add 200 outpatient facilities by 2020 — 6 things to know

HCA added just two ASCs in 2017 and plans to continue spending more on inpatient than outpatient line growth over the next year.

 

Here are six things to know:

1. In the fourth quarter, the company's same facility outpatient surgeries were up 0.8 percent, while inpatient same facility growth was up 0.6 percent. Overall, same facility admissions were up 1.4 percent in the fourth quarter. For the full year, same facility outpatient surgeries dropped 1.3 percent, while same facility inpatient cases were up 0.3 percent.

2. In the fourth quarter, outpatient surgery cases increased 3.6 percent to 242,095; for the full year, outpatient surgery cases increased 0.3 percent to 935,307. Outpatient revenue as a percentage of patient revenues hit 37.8 percent for the full year, down slightly from 38.3 percent in 2016.

3. At year's end, the company reported $33 billion total debt and total assets of $36.6 billion. The company had cash and cash equivalents of $732 million.

4. In tandem with its annual report, HCA released a plan to increase its three-year capital expenditures program that will increase growth opportunities in existing markets. The company's updated capital investment program could approximate $10.5 billion in three years, which is up from the previous $8.2 billion three-year spend.

5. At the end of the year, HCA operated 179 hospitals and 120 freestanding surgery centers and other healthcare facilities.

6. The company expects revenue to hit $45 billion to $46 billion in 2018. On the investor's call, COO Sam Hazen said outpatient spend likely won't exceed inpatient spend over the next year, although the company plans to add more outpatient centers this year. The company has 1,800 outpatient facilities currently and plans to have around 2,000 outpatient facilities by 2020.

More articles on surgery centers:
State-by-state breakdown of 2017's 73 new or announced ASCs, outpatient centers
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