Earnings and Per Visit Revenue Up in 2014 for U.S. Physical Therapy
While maintaining a profitable healthcare business is not getting any easier for most organizations, U.S. Physical Therapy, headquartered in Houston, Texas, found its revenues were boosted in 2014, a year in which the company reports it acquired 35 clinics.
2014 Revenue Highlights
According to figures recently released by U.S. Physical Therapy, net revenues were lifted to $305.1 million in 2014, which reflected 15.5% increase over the company’s $264.1 million net revenues the company reported for 2013. The improved performance for 2014 is a byproduct of what U.S. Physical Therapy describes as an increase the average net revenue per visit. According to the company per visit revenues stood at $106.08 in 2014, compared to $105.83 in 2013.
Operating income for the company shot up 18.1% in 2014, reaching $45.8 million, which was a notable increase from the $38.8 million operating income in 2013.
Chief executive officer for U.S. Physical Therapy, Chris Reading, was pleased with the year-over-year results, and says the company’s organic and acquired partnerships are growing.
“Our development activities are generating great results and are bringing some exciting newly acquired partnerships into our already strong family of partners. In 2015 we remain focused on all of the core initiatives that helped to produce an exceptional 2014,” Reading notes in a recent U.S. Physical Therapy media release.
Fourth Quarter Performance
Net revenues for the company are also reported to have increased 15.7% from $68.6 million in the fourth quarter of 2013 to $79.4 million in the fourth quarter of 2014. The media release attributes this improvement to an increase in patient visits of 15.6% from 638,000 to 737,000 ,and an increase in the average net revenue per visit of $0.32 to $105.79 from $105.47.
[Source: U.S. Physical Therapy]