Franklin, Tenn.-based Capella Healthcare reported its revenue from continuing operations increased to $207 million in the first quarter of fiscal 2015, up 22.3 percent from a year ago.
Capella's improved financial picture was partially attributable to increased admissions. Same-hospital admissions were up 4 percent at Capella's facilities in the first quarter, compared to the same period of last year, and when adjusted for outpatient activity, admissions were up 10.4 percent. In addition, same-hospital outpatient surgery increased 3.4 percent in the first quarter at Capella's facilities.
Capella President and CEO Michael Wiechart was happy with the company's first-quarter results. "We are pleased with our hospitals' performance during the first quarter as it demonstrates strong growth as well as continued progress in quality and patient safety metrics," he said. "We experienced particularly strong growth in outpatient revenues, driven by recent investments in cardiovascular services, diagnostic imaging and outpatient surgical services."
Capella posted a $2.6 million net loss for the quarter, which was an improvement over the $9 million net loss it reported for the same period of last year.
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