Envision Healthcare, the owner and operator of 264 surgery centers across the nation, reported $132.6 million in net income for the fourth quarter of 2017. Here are seven other key notes:
1. Net revenues for ambulatory services were $333.1 million, compared to $326.7 million for the fourth quarter of 2016. Procedure volume grew at 2.8 percent, driving a 2.7 percent increase in same-center revenue for the fourth quarter of 2017.
2. Net revenues for physician services, which include facility-based and post-acute services, were $1.67 billion for the fourth quarter of 2017. This constitutes an 8.3 percent growth from the prior year.
3. Same-contract revenue growth was 0.5 percent for the physician services segment in the fourth quarter of 2017, excluding the results from physician services for the three months ended Dec. 31, 2016.
4. In the ambulatory services segment, Envision posted $1.41 million in average revenue per consolidated center.
5. Envision expects 2018 earnings of $8.35 billion to $8.53 billion and total organic growth of 2 percent to 5 percent. It expects 1 percent to 2 percent same-center revenue growth for ambulatory services and 1 to 3 percent same-contract revenue growth for physician services.
6. Envision's net earnings per share were adjusted to $0.59.
7. Envision expects to complete divestiture of American Medical Response during the first quarter of 2018. It agreed to sell the ambulance business in August 2017.