Surgery center operator First Surgical Partners recently discussed its 2011 financial results, reporting a growth in the number of procedures performed and challenges such as declining reimbursements and industry regulation.
According to First Surgical Partners, the company had 33 affiliated physicians and 69 non-affiliated physicians as of Dec. 31, 2011. Among the 102 total surgeons, 32.4 percent are shareholders or affiliated surgeons and 67.6 percent are non-owners or non-affiliates. Since inception, these physicians have performed nearly 45,000, and the number of procedures continues to grow year-over-year.
For the year ended Dec. 31, 2011, affiliated surgeons generated 61.7 percent of the company's revenues. The company also reported challenges with declining reimbursements, as third-party payors reimburse less and less for services, and a more highly regulated industry.
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According to First Surgical Partners, the company had 33 affiliated physicians and 69 non-affiliated physicians as of Dec. 31, 2011. Among the 102 total surgeons, 32.4 percent are shareholders or affiliated surgeons and 67.6 percent are non-owners or non-affiliates. Since inception, these physicians have performed nearly 45,000, and the number of procedures continues to grow year-over-year.
For the year ended Dec. 31, 2011, affiliated surgeons generated 61.7 percent of the company's revenues. The company also reported challenges with declining reimbursements, as third-party payors reimburse less and less for services, and a more highly regulated industry.
Related Articles on ASC Management Companies:
10 ASC Industry Leaders to Know
ASC Industry Leader to Know: Barry Tanner, CEO of Physicians Endoscopy
Medical Facilities Corporation Increases Revenue to $220M in 2011