IntegraMed America's CEO Discusses Q3 2011 Results - Earnings Call Transcript
I will now turn the call over to Jay Higham, President & CEO. Jay?
Thank you, Tim, and good morning to everybody on the call. We appreciate you joining us today. We’re pleased with the Q3 results and with how things are progressing in general and we continue to be excited about the future of the business. Looking at our Attain fertility centers, the segment had a solid quarter with revenues growing 10.7% to $50.8 million and year-to-date revenues up 10% to $149 million.
Underlying patient volume metrics, including new patient visits and IVF cycles showed strong growth of 7% in a market that’s flat across the United States. Our performance reflects the success of our business model and the value of our approach in taking market share away from non-IntegraMed affiliated fertility centers. We achieved these results through a strong focus on patient recruitment, care coordination, revenue cycle management, integrated IT systems, and a host of other critical operational initiatives rarely seen at individual centers.We’ve also created a powerful marketing engine that drives potential patients to IntegraMed and to our fertility centers. Specifically, we’ve focused a lot of time and effort on leveraging the internet and social media which have proven to attract new patients and have established us as a key influencer in the fertility field. We’re indeed fortunate that our target audience – women between the ages of 25 and 45 – feel very comfortable using the internet, and that we’ve been able to make a level of investment where the Attain IVF brand is gaining visibility. Turning to the Attain IVF Fertility Treatment Financing Program, growth continued to moderate as the benefits of last year’s Attain multi-cycle launch have been fully annualized. We’re also beginning to bump up against Attain IVF enrollment limitations of the existing provider network. Incremental improvements can be obtained but continued significant growth in the future will likely come from additions to the provider network, a task we need to focus more attention on.
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