USPI added 1,100 physicians in 2021 so far; total joints up 120%

Dallas-based United Surgical Partners International, part of Tenet Healthcare, continued its steep growth trajectory in the first half of 2021.

USPI welcomed more than 570 physicians to the medical staff in the second quarter, bringing the total number of physicians added this year to 1,100. Ron Rittenmeyer, executive chair and CEO of Tenet, said the integration of 45 ASCs from SurgCenter Development is going well and the company added four other facilities to USPI in the second quarter.

"We have a healthy and strong pipeline that we're working to deploy," said Mr. Rittenmeyer, as transcribed by Seeking Alpha. "That includes USPI's traditional three-way model, as well as great two-way opportunities, both of which foster direct collaboration between USPI and local physicians."

Mr. Rittenmeyer said organic growth opportunities are still plentiful and the company is developing centers with physicians at its normal pace. USPI also added 25 new service lines across its network during the second quarter.

Many of the added service lines were in total joints and spine. USPI reported 120 percent growth in its total joint business and 21 percent growth in the spine businesses for the second quarter. The bariatric service line was up 100 percent and otolaryngology services jumped 1,000 percent.

Overall, USPI reported an 80.4 percent jump in year-over-year net operating revenue to $664 million, and same-facility ASC volume was up 68.2 percent. The company ended the quarter June 30 with 317 ASCs and 24 surgical hospitals.

"The second quarter and the first half of 2021 have been better than expected on many fronts," said Mr. Rittenmeyer. "This was largely driven by the continued commitment of our strategy, our extensive use of data and analysis, which have allowed us to trace deviations quickly, take action as needed and thus ensured a focus on execution at every level."

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