Here are three things to know about the company’s first-quarter finances.
1. Syncordia reported revenue of $4.12 million for the first quarter of FY 2017, up 21 percent from revenues of $3.39 million in the same period of last year.
2. The revenue increase was partly attributable to the company’s March acquisition of Billing Solutions, a full-service third-party billing solutions company in Prescott, Ariz.
3. After accounting for a year-over-year increase in expenses, Syncordia ended the first quarter of FY 2017 with a net loss of $1.58 million. That’s compared to a net loss of $1.19 million in the same period of the year prior.
More articles on finance and revenue cycle management issues:
Reducing low-cost health services could increase cost savings: 6 things to know
Oregon’s healthcare price transparency grade improves after website creation
80% of Massachusetts hospitals made a profit in 2015
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
