Dallas-based Tenet's ambulatory care segment, United Surgical Partners International, reported a slight increase in fourth quarter revenue and larger increase year over year in 2018.
Five things to know:
1. USPI reported $554 million net operating revenue in the fourth quarter, a 1.7 percent increase over the same period last year. The company generated $245 million in adjusted EBITDA, a 9.9 percent increase over the fourth quarter of 2017.
2. By the end of 2018, the ambulatory segment reported 227 consolidated facilities. Tenet's ambulatory segment reported a 2.8 percent increase in fourth quarter same-facility revenue, while case volume increased 0.9 percent and revenue per case was up 2.8 percent.
3. Within the ambulatory segment's surgical business, same-facility systemwide revenue was up 2.7 percent in the fourth quarter and cases increased 1.1 percent. Revenue per case for these facilities was up 2.6 percent.
4. In the full year, USPI reported $2 billion in net operating revenue, a 7.5 percent increase over 2017. The segment's adjusted EBITDA increased 13.3 percent to $792 million.
5. The ambulatory segment reported a 5.1 percent increase in same-facility revenue growth last year, and cases increased 3.4 percent. Overall revenue per case was up 1.6 percent. Surgical services within the ambulatory segment reported 4.9 percent same-facility revenue growth in 2018, with cases up 2.1 percent and revenue per case increasing 2.7 percent.
Tenet Healthcare expects overall 2019 revenue to hit $18 billion to $18.4 billion.