Nobilis Health reported $299.7 million in 2017 revenue, a 4.9 percent increase over the previous year.
Here are five things to know:
1. In addition to the increased revenue, Nobilis reported $3.8 million in net income. The company's net income was affected by the tax reform legislation; without it, the company's 2017 net income would have been $10 million.
2. Total case volume for 2017 decreased 5.9 percent to 18,757 for the year. In the fourth quarter, case volume dropped by 161 cases to 5,846. However, revenue per case increased from $14,329 in 2016 to $15,979 in 2017.
3. Nobilis reported adjusted EBITDA at $41.4 million for the year, a 21.9 percent increase over 2016.
4. The company expects 2018 revenue to hit between $345 million and $355 million, with adjusted EBITDA of $57 million to $62 million. The company plans to focus on improving operational efficiency, increasing in-network revenues and expanding the continuum of care through alignment with primary care practices over the next year, in addition to growing vertically integrated service lines.
5. Nobilis reported fourth quarter revenue at $86.8 million, a 14.8 percent decrease over the same period in 2016 due to the effects of Hurricane Harvey in Houston, which is the company's largest market. Nobilis also attributed the decline to a shift away from the low-margin lab business.
"We made great progress reducing overall costs last year as evidenced by improvements in gross margins, operating income and net income, absent the impact of tax reform," said CEO Harry Fleming. "We achieved this despite an estimated loss of $15 million to $20 million of revenues in the Houston market resulting from Hurricane Harvey."
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