Capella Healthcare leveraged outpatient revenue growth and investments in patient services to achieve increased revenue for the quarter ended March 31.
The Franklin, Tenn.-based company said adjusted earnings before interest, taxes, depreciation and amortization from continuing operations increased 39.2% from the same quarter its prior year, as same-hospital adjusted EBITDA increased 25.3%.
Revenue from continuing operations rose 22.3% over the same period a year ago, to $207 million. Same-hospital revenue reached $182.8 million, the company said, a 8% increase from the same period in 2014.
It was one of the strongest quarters in recent years, said Michael Wiechart, Capella's president and CEO. “We experienced particularly strong growth in outpatient revenues, driven by recent investments in cardiovascular services, diagnostic imaging and outpatient surgical services. We continue to experience incremental benefit from coverage expansion, as well,” Wiechart said in a news release.
Same-hospital outpatient surgery increased 3.4%. Additionally, Capella saw 9,732 same-hospital admissions for the quarter ended March 31, a 4% uptick over the same prior year quarter, and same-hospital adjusted admissions increased 10.4% for the same quarter its prior year.
The earnings report comes a month after Capella announced it had promoted four top managers.