Dallas-based United Surgical Partners International, the ASC arm of Tenet Healthcare, reported third-quarter revenue of $1.28 billion, an 11.9% increase from the same period last year, according to financial documents released Oct. 28.
Here are five things to know:
1. The company has ownership interests in 530 ASCs (with 398 consolidated) and 26 surgical hospitals (with eight consolidated) across 37 states.
2. USPI’s adjusted EBITDA rose 12.1%, from $329 million in the prior year’s third quarter to $492 million this year.
3. Same-facility, systemwide net patient service revenue increased 8.3% year over year.
4. USPI reported 2.1% growth in cases and a 6.1% increase in net revenue per case.
5. Tenet posted operating income of $889 million (a 16.8% operating margin) for the quarter, down from $1.1 billion (a 21.2% margin) during the same period last year. Overall operating revenue rose to $5.3 billion, up from $5.1 billion a year ago.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.