Surgery Partners reported 45.8 percent increased revenue in the first quarter as well as $25.3 million in net losses.
CEO Wayne DeVeydt was optimistic during the first quarter conference call, discussing why he feels the company's long-term strategy is a winning one and what to expect from Surgery Partners in the future.
Here are four key quotes from Mr. DeVeydt, as reported in a transcript from Seeking Alpha.
On remaining independent: "I've been able to observe and reinforce my original thesis around the strength of the surgical facility assets we own and operate and the power of our independence as we look to align with payers, including both state and federal governments to remove inappropriate and unnecessary costs from the healthcare system."
On aligning assets for long-term growth: "We are uniquely positioned in the industry as payers and providers continue to ship more procedures to the high-quality, low-cost setting that our surgical post facilities provide, specifically in orthopedics, including total joint and spine procedures, ophthalmology, pain and GI. These practice areas represent core strengths upon which we will grow and we've begun the process of pruning those assets that are not aligned with our long-term growth strategy."
On physician recruitment: "We have begun the process of doubling the physician recruitment team and are already beginning to see some early benefits from our efforts. Specifically, we've already organically added over 100 new physicians that will begin using our surgical facilities in 2018."
On de novo ASC development: "We're working on a number of de novos. The reality is, the organic growth machine has to come through some de novos and needs only to expand not only where you reside today, but where you want to reside tomorrow, and we have the de novo machine running again. But those have more of an 18-month window associated with them."