The following is a summary of the Acadia Healthcare Company, Inc. (ACHC) Q1 2024 Earnings Call Transcript:
Financial Performance:
Acadia Healthcare reported a Q1 2024 total revenue increase of 9.1% over Q1 2023, amounting to $768 million, driven by rate improvements and patient day growth.
The company saw adjusted EBITDA growth of 14.9% and adjusted EPS growth of 12.0%.
It forecasts 2024 revenue will range between $3.18 billion to $3.25 billion and adjusted EBITDA in the range of $730 million to $770 million.
Despite seasonal volume trend challenges, the SWB per patient day maintained a solid performance under 5%, credited to the focus on employee engagement and retention.
Operating expenses are projected to remain fairly steady throughout the year, with emphasis on balancing investment in areas like IT, quality, and managed care.
Business Progress:
Acadia Healthcare made key additions to its leadership team and grew through facility expansions, De Novo Facilities, Joint Ventures, and acquisitions.
The company initiated construction on two new hospitals in Florida and Massachusetts, and completed the purchase of Turning Point Centers in Utah and three treatment centers in North Carolina.
Company increased access to and investment in its CTC business to enhance patient outcomes.
Acadia has commenced remote monitoring in all 53 of its acute facilities, resulting in improved patient experience.
Plans are in place to extend their Partial Hospital Programs (PHP) and Intensive Outpatient Programs (IOP) to ensure improved patient outcomes and continuity of care.
They have recently won an opioid settlement of $6 million from the Tennessee Opioid Abatement Council for the treatment of underserved populations.
Acadia is investing in staff safety, including personal alarm buttons for hospital staff and continues to work towards improving employee engagement and patient satisfaction.
More details: Acadia Healthcare IR
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