Surgery Partners adds 24% more physicians in Q4: 8 earnings call insights

Nashville, Tenn.-based Surgery Partners added 24 percent more physicians in the fourth quarter compared to the same quarter in 2020.

Here are seven more insights from the company's earnings call Feb. 28, as transcribed by financial adviser company the Motley Fool.

1. Surgery Partners' fourth quarter additions bring the company to more than 4,600 total physicians. In 2021, the company recruited nearly 625 new surgeons, 13 percent more than 2020. 

2. Total joint replacements were up 55 percent in the fourth quarter and up about 88 percent for the year.

3. Surgery Partners closed about $325 million in transactions in 2021. The company's goal of deploying at least $200 million in capital in 2022 is already underway, with $34 million in acquisitions deployed since Jan. 1. 

4. Surgical cases grew by over 10,500 in the fourth quarter. The mix of surgical cases specialties has largely stabilized, in line with the company's expectations, CEO Eric Evans said, and gastrointestinal cases have rebounded to above prepandemic levels.

5. Labor costs were just under 29 percent of total revenue, consistent with third quarter results, but about 100 case points higher than the reported amount in 2020. 

6. Over 80 percent of Surgery Partners' facilities perform musculoskeletal procedures, and about 60 percent can perform cardiac procedures.

7. Surgery Partners now has 39 robots and plans to add four more by the end of 2022.

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