USPI reports $490M Q1 operating revenue, surgical cases drop 28.6% in March: 5 details

Tenet's ambulatory segment reported patient volume declines during the COVID-19 pandemic, as many elective procedures were canceled or postponed and surgery centers were temporarily closed.

Five things to know:

1. Tenet reported $94 million net income, up from a $20 million net loss during the first quarter of 2019. Net operating revenue for United Surgical Partners International, Tenet's ASC business, was $490 million in the first quarter, up from $480 million in the same period last year.

2. The company is shifting focus to resume vital elective procedures at its ASCs and hospital departments in the coming weeks. USPI reported a substantial number of its centers closed or have been operated under limited hours during the pandemic.

3. USPI's same-facility surgical cases dropped 8.5 percent during the quarter, and same-facility total ambulatory cases were down 4.3 percent. USPI's safe-facility net patient services revenue hit $1 billion for the quarter, which is similar to the revenue for the first quarter of 2019.

4. Surgical cases grew 2 percent in January and February, while they dropped 28.6 percent in March due to the pandemic.

5. USPI ended the quarter with 265 ASCs under operation as well as 24 surgical hospitals, 39 urgent care centers and 23 imaging centers.

More articles on surgery centers:
Envision's 257 surgery centers tapped for supplies, staffing support
Florida hospital shifts all procedures to surgery center
University Hospitals likely to receive approval for surgery center

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