News for Immediate Release
September 26, 2024
Harrisburg – PHC4 releases Financial Analysis, Volume Two today, the second in a three-part series of reports released annually by the organization. Volume Two focuses on providing insight into the financial health of Pennsylvania’s ambulatory surgery centers (ASCs).
Amongst the financial data displayed in Volume Two, one can look forward to insights regarding net patient revenue, patient volume, operating margins, and total margins for Fiscal Year 2023 (FY23). Also examined are changes from Fiscal Year 2022 (FY22) to FY23. Highlights include:
- The net patient revenue for Pennsylvania’s ASCs increased 14.1% from $1.67 billion in FY22 to $1.90 billion in FY23
- During FY23, the average outpatient revenue per visit was $1,372 for ASCs
- Pennsylvania’s ASCs reported an 18.7% increase in the total number of outpatient visits, from 1.17 million in FY22 to 1.39 million in FY23
- The total number of outpatient surgical procedures performed at ASCs increased 1.5% from 1.1 million in FY22 to 1.2 million in FY23
- The statewide total margin realized by the ASCs increased 3.14 percentage points, from 20.49% in FY22 to 23.63% in FY23
- The statewide operating margin realized by the ASCs increased 3.49 percentage points, from 20.82% in FY22 to 24.31% in FY23
“These reports provide imperative insight when one is examining the financial state of our Commonwealth’s ambulatory surgery centers,” stated Barry D. Buckingham, PHC4’s Executive Director. He went on the say the mission of PHC4 is to provide insight by supplying timely, factual reporting in order to inform decisions, all in an effort to support the ability of stakeholders to restrain costs.
PHC4 has produced a series of reports measuring the financial condition and utilization of the Commonwealth’s hospitals since 1989, adding ASCs when they became more prevalent. This series of reports, like all PHC4 reporting, is intended to provide stakeholders with fact-based information to prioritize resources and make informed decisions. PHC4 invites all those interested to review its reports, always available at phc4.org. PHC4 is an independent council formed under Pennsylvania statute (Act 89 of 1986, as amended by Act 15 of 2020) in order to address rapidly growing health care costs. PHC4 continues to produce comparative information about the most efficient and effective health care to individual consumers and group purchasers of health services. In addition, PHC4 produces information used to identify opportunities to contain costs and improve the quality of care delivered.
For more information, visit phc4.org or view the report here.
Media contact:
Barry D. Buckingham, Executive Director, PHC4
