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Dec 31, 2019
Radnet Q4 2019 Earnings Report
Radnet reported record fourth quarter and full year results.
Key Takeaways
RadNet reported a strong fourth quarter with a 17.0% increase in revenue and a 5.5% increase in Adjusted EBITDA compared to the previous year. The company's key metrics improved, including revenue, Adjusted EBITDA, and aggregate and same-center volumes.
Revenue increased by 17.0% compared to Q4 2018.
Adjusted EBITDA increased by 5.5% compared to Q4 2018.
Net income was $10.4 million, or $0.21 per diluted share.
MRI, CT, and PET/CT volumes increased by 6.7%, 9.3%, and 13.6%, respectively.
Radnet
Radnet
Forward Guidance
RadNet is optimistic about its business in 2020, expecting stable Medicare reimbursement, potential upside in rates with private payors, and contributions from recent acquisitions and joint ventures. The company also plans to accelerate its commitment to AI solutions for greater productivity and accuracy.
Positive Outlook
- Expects stable reimbursement from Medicare relative to 2019.
- Believes it has potential upside in its rates with private payors.
- Expects to benefit from the contributions of acquisitions that were part of RadNet for only a portion of 2019.
- Expects to expand several of its joint ventures and establish one or more new JV partnerships.
- Plans to accelerate its commitment to AI solutions.