Conifer Health Solutions, a subsidiary of Dallas-based Tenet Healthcare that offers revenue cycle management services, saw net operating revenues of $333 million in the third quarter of 2022 — up from $314 million over the same period last year, according to Tenet's financial report released Oct. 20.
The company primarily attributed the 6.1 percent revenue increase to contractual rate increases and new business expansion.
From January to September, Conifer saw net operating revenues of $990 million, up from $943 million over the same period last year.
"Conifer continues to demonstrate top line growth," Tenet CEO Saum Sutaria, MD, said on an Oct. 21 earnings call. "Conifer delivered 6 percent revenue growth, including third-party customer growth of almost 10 percent with a strong 27 percent margin in the quarter. We continue to maximize opportunities through automation and offshoring to improve the effectiveness and efficiency of Conifer services. We remain pleased with Conifer's strong performance on cash collections, coding quality, and other key metrics for our clients."