Iasis results improve as it adds volume, plan members
Iasis Healthcare reported $5.2 million in income in the fourth quarter of its fiscal 2014 as it booked more revenue and saw more patients in its acute-care and health plan businesses. That compares to a $3.6 million loss during the same period last year.
The privately held Franklin, Tenn.-based chain reported a 16.4% increase in revenue, or $655.4 million compared with $563 million in the year-ago period. Iasis attributed the improvement to a 2.6% increase in adjusted admissions, a 5.2% rise in revenue per adjusted admission and an 18.8% increase in lives covered under Health Choice, its health plan business.
The company said an improving economy and greater employment in its local markets as well as a better payer and service line mix also boosted results.
Despite the fourth-quarter improvement, Iasis still finished the year with an overall $2.4 million loss on $2.5 billion in revenue for fiscal 2014 ended Sept. 30. In fiscal 2013, it posted income of $3.3 million on $2.3 billion in revenue.