Medical Facilities Corp (OTCPK:MFCSF)
$ 11.14 -0.233 (-2.05%) Market Cap: 262.23 Mil Enterprise Value: 346.89 Mil PE Ratio: 14.28 PB Ratio: 3.46 GF Score: 73/100
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Q3 2023 Medical Facilities Corp Earnings Call Transcript

Nov 09, 2023 / 01:30PM GMT
Release Date Price: $6.55 (-1.10%)
David Watson
Medical Facilities Corporation - CFO

Excluding the divested ASCs, overall surgical case volumes increased 1%. Observation cases increased significantly by 39.5%, while inpatient cases decreased by 9.2% and outpatient cases decreased by 3.4%, while our operating expenses increased by $0.3 million to $92 million. As a percentage of revenue, they fell to 88% in the quarter from 89.8% year ago.

Consolidated salaries and benefits increased by $0.5 million or 1.6% as we experienced higher clinical and nonclinical salaries and wages due to annual salary adjustments, growth in full-time equivalent staff and market wage pressures.

Bringing anesthesia services and related billing in-house (technical difficulty) also contributed to this increase. It's important to note that these increases were mostly offset by the impact of the MFC Neuterra divestitures and our ongoing cost saving initiatives at the corporate level.

Consolidated drugs and supplies increased by $0.4 million or 1.1%, driven by changes in case mix, which included a higher proportion of orthopedic and signed

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