Conifer Health Solutions saw net operating revenues of $324 million in the first quarter of 2023, the same figure it saw over the first quarter last year, according to parent company Tenet's financial report released April 25.
The revenue cycle management company's net operating revenues from external clients increased 3.8 percent over the first quarter last year due to contractual rate increases and new business expansion, according to the report.
Conifer had an adjusted EBITDA of $87 million and an adjusted EBITDA margin of 26.9 percent in the first quarter, compared to $92 million and 28.4 percent, respectively, over the same period last year. The declines were attributed to previously announced contract changes with Tenet hospitals.