USPI reports 17.8% growth in Q3: 6 notes

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Dallas-based United Surgical Partners International, a subsidiary of Tenet Healthcare, reported year-over-year revenue gains in the third quarter ending Sept. 30. 

Six notes from Tenet's financial report released Oct. 20:

1. USPI reported net operating revenue at $666 million for the quarter, up 17.8 percent from $565 million in the same period last year. This increase is primarily related to higher volumes, higher patient acuity, new service line growth and additional revenue from acquiring 45 ASCs from SurgCenter Development last December. 

2. Net operating revenue numbers are offset by the sale of Tenet's urgent care centers and the realignment of the imaging centers in its hospital segment.

3. Same-facility operating revenue increased 4.2 percent in the third quarter compared to the same period last year, with cases up 6.8 percent and revenue per case down 2.5 percent. Revenue case decline is attributed to the growth in lower acuity cases.

4. Adjusted earnings before interest, tax, depreciation and amortization was $274 million for the second quarter.

5. As of the end of the third quarter, USPI had interests in 318 ambulatory surgery centers and 24 surgical hospitals in 31 states.

6. Overall, Tenet Healthcare's net operating revenue hit $4.9 billion, up 7.4 percent from the $4.6 billion recorded in the same period last year.

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