Issue link: https://beckershealthcare.uberflip.com/i/346715
8 Becker's ASC 21st Annual Meeting – The Business and Operations of ASCs – Call (800) 417-2035 T he wait for patients to chisel down their higher deductibles before opting for elective surgery was predicted to cause a slow start to the ambulatory surgery center industry year, but ASCs faced a long win- ter in more ways than one. Severe weather late into the first quarter also paid a toll on financial perfor- mance, but companies demonstrated resilience and a readiness to take on the rest of 2014. Here are first quarter financial results for eight publicly traded ambulatory surgery center companies. AmSurg AmSurg's revenue crept up 2 percent from $258.2 million in the first quarter of 2013 to $263.1 million, but same-center revenues declined 2 percent. "Am- Surg's results for the first quarter of 2014, which reflected a 2 percent decline in same-center revenues, were affected materially more by severe weather throughout the quarter than we anticipated in the guidance we established in late February," said CEO Christopher Holden, in a news release. Despite a slow financial start, the company completed the first quarter with seven letters of intent and a de novo center under development. As of March 31, AmSurg owned and operated 242 centers. Foundation Healthcare Foundation Healthcare reported $22.1 million in net revenues for the first quarter of this year, up 18 percent from $18.7 million in the first quarter of 2013. Patient services revenue rose 23 percent to $19.5 million, which was due to an increase in outpatient surgical cases and inpatient spine cases, ac- cording to a news release. "In addition to growing volumes at our existing hospitals, we are actively pursuing opportunities to add ancillary services through hospital outpatient departments at our hospitals including outpa- tient surgery centers, imaging, oncology and pain management," said Foun- dation Healthcare CEO Stanton Nelson in the report. Hospital Corporation of America HCA reported 0.9 percent growth in net income for the first quarter, a total of $347 million. The company's total revenue increased 4.6 percent to $8.83 billion. "We are pleased with results for the first quarter. As expected, health- care reform had minimal impact on the company's first quarter results; how- ever, we remain optimistic regarding the potential long-term benefits," said HCA President and CEO Milton Johnson in a news release. Medical Facilities Corporation MFC reported $72.9 million in revenue, consistent with revenue reported in the first quarter of 2013. "Our Black Hills facility recorded an increase in rev- enue and income from operations as a result of growth in surgical cases and pain management procedures, as well as urgent care revenue," said Donald Schellpfeffer, MD, CEO of MFC, in a news release. Income from operations was $18.1 million, down 11.5 percent from $20.4 million in same period last year. As of March 31, MFC owned controlling interests in five specialty surgical hospitals and an ambulatory surgery center. Nothstar Healthcare Northstar reported net patient service revenue of $12.1 million, up 194.1 percent from $4.1 million in the first quarter of 2013. The company reported a total of 1,499 cases performed in the first quarter, up 43.6 percent from the 1,044 cases ASC Company Updates: 8 Things to Know By Carrie Pallardy AnticipAte chAnge. We do. 2013 ® 636.273.6711 | www.nationalASCbilling.com the ASc Revenue cycle. It's all we do. It's all we think about. And it shows. Named one of the world's best outsourcing service providers two years in a row. – Fortune Magazine 2013