The year-over-year increase in first quarter net patient service revenues was primarily due to a 14.9 percent increase in case volume and a 2.4 percent increase in the net patient service revenues per case, with the overall case volume increase primarily attributable to the acquisition of an ASC in Dallas, according to a news release.
Northstar recorded a first quarter 2011 profit from operations of $0.7 million compared with a $0.4 million profit in the 2010 period. Other highlights of the quarter included the acquisition of four cancer treatment centers in Texas and the hiring of Lloyd Taylor as the company’s chief strategy officer.
Donald Kramer, MD, CEO of Northstar, said the company also has “initiatives in place at each of our centers designed around our physician partner specialties to promote growth,” according to the release. “These initiatives include: starting a minimally invasive spine surgery program at our Kirby (Texas) location; a procedure suite at our Houston location focusing on pain and gastrointestinal medicine; and a podiatry program at our Dallas location. The company will continue to focus on diversifying our revenue base as well as continue to assess opportunities to partner with other healthcare service providers to expand the utilization of our facilities and capitalize on our network of physicians.”
Read the news release about the first quarter 2011 results for Northstar Healthcare.
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