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Dialysis Corporation of America Reports Fourth Quarter and Year Ended December 31, 2008 Results
Date:3/5/2009

ense was $221,000 for 2008 compared to $217,000 for 2007.

Stephen Everett, President and Chief Executive Officer, commented, "2008 was both a strategic and financial success for DCA. In these extremely difficult economic times, it is comforting to be part of both a company and industry that are more resilient than most. Our company is in very good financial shape and continues to grow and evolve in an ever changing regulatory and clinical environment. It is especially heartening to witness our talented group of caregivers continue to provide unparalleled quality clinical service to the patients who entrust us with their lives."

Significant markers and noteworthy items for 2008 include:

  • Key clinical metrics continued to show advances throughout the year, which were the results of outstanding clinical care by our caregivers, and a heightened focus on preparing for anticipated "pay for performance" initiatives in conjunction with the 2011 reimbursement bundling under Medicare.
  • We experienced a slight increase in commercial contracting over prior years, yet sustained an expected 6% increase in revenue per treatment, year over year.
  • Our continued focus and enhancement on billing and collection functions resulted in a decrease in accounts receivable days outstanding (DSO) by 9 days in 2008.
  • We completed our largest acquisition to date, which was a Maryland dialysis center serving in excess of 145 patients. The transaction was completed at the end of the year.
  • In spite of the trying global economic conditions, we successfully completed an enhanced revolving line of credit with KeyBank National Association totaling $25,000,000, with favorable terms.
  • The installation and use of our new Clinical Information System began and remains on schedule for company wide deployment. This new system is expected to ass
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SOURCE Dialysis Corporation of America
Copyright©2009 PR Newswire.
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