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Earnings Call Summary | Nutex Health(NUTX.US) Q1 2024 Earnings Conference

moomoo AI ·  May 10 20:13  · Conference Call

The following is a summary of the Nutex Health (NUTX) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Nutex Health's total revenue increased by 20% to $67.5 million for Q1 2024. Gross profit for the same period saw a growth of 113%.

  • Revenue for mature hospitals saw a growth of 6.7% for Q1 2024 against the same period last year.

  • The population health division's revenue grew by 5.4%.

  • The net loss was reduced drastically in Q1 2024 to -$364,000 from -$5.1 million in Q1 2023.

  • Cash and cash equivalents increased to $30 million by March 31, 2024.

Business Progress:

  • Nutex Health opened four new hospitals in 2023, contributing to the system-wide increase in ER volumes by 21%.

  • There was a significant increase of 78% in the number of Medicare Advantage lives quarter-over-quarter.

  • The company is planning to open four more hospitals in 2024 subject to certain financial metrics and continues to push cost-cutting measures.

  • Revenue per patient, collections, and managing the impact of the No Surprises Act remain areas of focus.

  • The population health division continues to experience profitability and growth in Medicare Advantage lives, and has introduced new Independent Practice Associations (IPAs) in various regions.

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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