SURGICAL CARE AFFILIATES INC DEERFIELD, Ill. , Oct. 28, 2015 (GLOBE NEWSWIRE) -- Surgical Care Affiliates, Inc. (SCA) shared today that the budget bill proposed earlier this week by the Obama Administration and Republican leadership would not impact SCA’s reimbursement rates.
The proposed bill places restrictions on the ability of hospitals to earn higher reimbursement by converting ambulatory surgery centers (ASCs) to hospital outpatient departments (HOPDs). None of SCA’s facilities are licensed as HOPDs. SCA’s ambulatory surgery centers are all licensed as ASCs and are paid according to Medicare’s ASC fee schedule.
“Our facilities provide outstanding clinical quality, and a significant cost savings for Medicare beneficiaries,” said Andrew Hayek, Chairman & Chief Executive Officer of SCA. “The value we create is one reason that we have been chosen by leading Accountable Care Organizations and risk-bearing medical groups to improve quality and reduce the cost of surgical care.”
About Surgical Care Affiliates
SCA (NASDAQ:SCAI) partners with physicians, health systems and health plans across the country to develop and operate surgical facilities. As of June 30, 2015, SCA operated 193 surgical facilities, including ambulatory surgery centers and surgical hospitals – in partnership with approximately 2,600 physicians. For more information on SCA, visit www.scasurgery.com.
Cautionary Information Regarding Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as “would,” “believes,” “anticipates,” “expects,” “continues,” “will,” “may,” “should,” “estimates,” “intends,” “plans” and similar expressions, including all discussions of the proposed federal budget legislation. Such forward-looking statements are subject to various risks and uncertainties, including (a) any changes to the proposed budget bill prior to its enactment or amendments thereto following its enactment and (b) the risks and uncertainties described under the heading “Risk Factors” in SCA’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2015 and June 30, 2015 and described in any subsequent reports SCA has filed with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in SCA's filings with the SEC. You should not rely upon forward-looking statements as predictions of future events. SCA undertakes no obligation to update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. In that respect, SCA cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.
SCA Press Contact: Leslie Wachsman Vice President, Finance Surgical Care Affiliates Phone: (847) 267-9823 Email: leslie.wachsman@scasurgery.com
