Surgical Care Affiliates reported a revenue increase in the third quarter of 2015.
Here are 10 things to know:
1. SCA reported 19 percent revenue increase year-over-year in the third quarter. The company's operating income was up 22 percent to $58.7 million and net income attributable to SCA was $118.6 million. The revenue increase was driven by revenues earned from acquisitions, higher acuity case mix and increased volumes.
2. Systemwide net operating revenues including all facilities SCA has ownership interest in and management fee revenues from managed-only facilities, increased 18.2 percent in the third quarter. On a same-site basis, the systemwide net patient revenue was up 8.5 percent in the third quarter.
3. Systemwide case volume increased 5 percent compared with the same period last year.
4. Surgical Care Affiliates operated 194 surgical facilities as of Sept. 30, 2015. Of the operated surgical facilities, 109 were affiliated with a health system partner, including ambulatory surgery centers and surgical hospitals. The company has a partnership with around 2,600 physicians.
5. Net patient revenues hit $15.8 million, up from the same period last year. Management fee revenues hit $5.1 million, up from $3.6 million in the same period last year.
6. SCA reported salaries and benefits at $86.3 million; supply expenses were $54.6 million.
7. During the third quarter SCA acquired three new facilities. Two of those facilities were nonconsolidated and one was consolidated. Since the quarter's end, the company added five additional facilities.
8. SCA closed or sold two non-strategic facilities in the third quarter. Since the beginning of the year, SCA acquired 19 new facilities. As of Nov. 4, the company's facility count was 199.
9. SCA recently acquired Arise Healthcare, aligning with 100 high-quality physicians with leading health plans and a large independent medical group in Austin. SCA also invested in its seventh facility with MemorialCare Health system, a nonprofit integrated delivery system with six hospitals, two medical groups and a health plan. It also operates a 50,000-member accountable care organization.
10. For the full year, SCA raised its adjusted EBITDA less NCI growth forecast to 9 percent to 12 percent.