The revenue increase experienced by the company was due largely to the acquisition of 14 centers in 2009 and a large orthopedic center in early 2010. On a same-center basis, AmSurg centers experienced a 4 percent decline in procedures compared to a year ago during the first quarter, which the company attributed to severe snowstorms in many markets and the economic downturn. Average revenue per procedure increased 4 percent between the comparable quarters due to procedure mix and pricing, which held the decline in same-center revenue for the quarter to 2 percent.
“We estimate that the unusual winter weather during February reduced same-center procedures by approximately 5,000, the absence of which would have resulted in same-center revenues level with first quarter revenues last year,” Christopher A. Holden, president and CEO of AmSurg, said in the release. “However, we also experienced a decline in same-center procedures during the quarter primarily related, we believe, to the soft economic environment. This trend was generally experienced throughout our same-center base, without significant variations in any particular geography or surgical specialty.”
As a result of declines in same-procedures during the first quarter, AmSurg has adjusted in financial guidance for 2010, decreasing expected revenues from $720-$750 million to $715-$735 million.
Read the release on AmSurg’s first quarter 2010 earnings.
