Dallas-based Tenet Healthcare detailed its 2022 revenues, acquisitions, plans for 2023 and more in its fourth-quarter earnings call.
The Feb. 9 conference call was hosted by CFO Dan Cancelmi, Vice President of Investor Relations Will McDowell and CEO Saum Sutaria, MD, according to a transcript of the call published Feb. 12.
Here are seven updates from Tenet that ASC leaders need to know:
1. Tenet's 2022 net operating revenue was $19.2 billion, with an adjusted earnings of $3.47 billion, an 18.1 percent increased margin.
2. In 2022, USPI's adjusted earnings were $1.33 billion, with margins at 40.9 percent.
3. The group's same-facility revenues grew 4.6 percent in 2022.
4. In the fourth quarter, Tenet saw similar same-store growth and volume as pre-pandemic levels.
5. In the fourth quarter, USPI's adjusted income was $897 million, which represented an increase of 19.7 percent, excluding grant income. Its adjusted margin was up 43.6 percent compared to 2021.
6. USPI's case volume increased 2 percent and its admissions increased 2.9 percent compared to the fourth quarter of 2021. Its net revenue per case increased by 2.5 percent.
7. USPI's total hospital costs were 3.1 percent lower than that of the fourth quarter of 2021.
Tenet's goal net revenue in 2023 is $3.16 billion to $3.36 billion, Dr. Sutaria said.