Dallas-based United Surgical Partners International is continuing to grow, with $340 million in adjusted earnings in the first quarter, according to an April 25 earnings call from Tenet, USPI's parent company, as transcribed by Seeking Alpha.
"The continued migration of procedural services into the ambulatory setting is a sustained and significant tailwind for our business," Tenet CEO Saum Sutaria, MD, said in the earnings call. "... Our USPI development pipeline remains active and healthy."
Here are six more notes to know:
1. The company saw 7.8 percent growth in same-facility volume, which is attributed to higher acuity service line expansion and growth in the company's physician population.
2. USPI particularly saw growth in gastroenterology, urology, ENT and orthopedic cases.
3. USPI added three ASCs in the first quarter and completed two post-transaction buy-ups.
4. Surgical cases were 107 percent of prepandemic levels.
5. The company is seeing physicians coming to USPI "wanting to initiate their first orthopedics de novo work in our centers either through new center development or joining existing centers," Dr. Sutaria said, indicating demand for ASC-based orthopedics.
6. The company is seeing some pressure from the No Surprises Act, but "managing through it," Dr. Sutaria said.