IPC The Hospitalist Company’s Profit Up 10% in 1Q

IPC The Hospitalist Company has announced profit of $8.5 million for its first quarter ended March 31, 2012, up 10 percent from the same period a year prior.

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Net revenue grew 14.5 percent from $113.3 million in the first quarter of 2011 to $129.8 million in the first quarter of 2012. Of this revenue growth, 74 percent was attributable to same-market area growth, including tuck-in acquisitions and new hires, and 26 percent was attributable to revenue generated from four new markets, according to the company.

Income from operations was also up 10 percent to $13.7 million, and patient volume increased 14 percent to 1.4 million.

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