Dallas-based United Surgical Partners International, Tenet Healthcare's ASC business, second quarter revenue hit $1.14 billion, a 21.1% increase from the same quarter last year.
The growth is driven by strong revenue per case, acquisitions and increased service lines, according to Tenet's July financial report.
USPI has 520 ASCs and 24 surgical hospitals spanning 38 states in its portfolio. Adjusted EBITDA jumped 20.8% from $370 million in the second quarter of 2023 to $447 million in the most recent quarter.
Surgical business same-facility systemwide net patient service revenues increased 7.1%, with cases up 0.2%. Net revenue per case jumped 6.8%, driven by higher acuity with a favorable case mix and a favorable payer mix.
USPI expects to report $4.3 to $4.4 billion in net operating revenue by the end of the year.
Tenet Healthcare saw a net income of $259 million in the second quarter of 2024, a nearly 111% increase from $123 million for the same quarter in 2023.
"Our results through the second quarter, which have significantly exceeded our expectations, have been driven by volume and revenue growth as well as sustained fundamentally strong operating performance," Saum Sutaria, MD, chairman and CEO of Tenet, said in the report. "Our portfolio transformation and enhanced cash flow profile provide us with compelling opportunities for growth as we execute on our strategy and continue to broaden our service offerings for patient-centered care."