Dive Brief:
- The first-quarter results are in for Dallas-based Tenet Healthcare, and the company is reporting a $47 million profit.
- At this time last year, Tenet posted a $32 million loss.
- In the first quarter of 2015, revenue at Conifer, a Tenet subsidiary that provides healthcare performance improvement solutions, increased by 20% to $542 million.
Dive Insight:
Since last year, Tenet has seen an increase in admissions, emergency department visits and surgeries. At facilities that expanded Medicaid, uninsured and charity care admissions have declined by almost half.
"This was a very good quarter for Tenet, characterized by a continuation of the strong volume trends from the second half of 2014, exceptional results at Conifer, and EBITDA that exceeded our expectations," said Trevor Fetter, president and chief executive officer. "We also made a number of important steps in the quarter to improve Tenet's strategic position. This includes our recently announced joint venture with United Surgical Partners International and Welsh Carson to form the nation’s largest network of ambulatory surgery centers and leading provider of ambulatory solutions to not-for-profit health systems."
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