University General Health System (UGHS)
"University General" is a diversified, integrated multi-specialty health care provider that delivers concierge physician and patient-oriented services by providing timely, innovative health solutions that are uniquely competitive, efficient, and adaptive in today's health care delivery environment. The Company currently operates one hospital, two ambulatory surgical centers and a Hyperbaric Wound Care Center (HBOT) in the Houston area. Also, University General owns three senior living facilities and manages six senior living facilities, and it plans to complete multiple additional developments in the near future in Houston and other strategic markets. University General also owns a Support Services company that includes a revenue cycle and luxury facilities management company.
Healthcare Features:Imaging, Physical Therapy, Endoscopy, Sleep, Weight Loss, Sports & Physical Rehabilitation, Wound Care.
Emniyet Rommer: 713-375-7100
University General Health System (UGHS)
7501 Fannin Street
Houston, TX 77054
Imaging | Physical Therapy | Endoscopy | Sleep | Weight Loss,Sports & Physical Rehabilitation | Wound Care
A five star style of health care is a model of care delivered by a healthcare institution, primarily a hospital in which the facility provides exceptional personalized care in a luxury or five star environment. This care is not subscription based, but is an attitude and culture created by the caregiver and medical professional. This boutique approach to healthcare in a general acute care setting is innovative. Founded in 2006, University General Hospital began the five star environment in health care as a hallmark of its success in a 69 bed facility. The design includes creating an environment whereby the patient experiences the comforts of home or a luxury hotel, while recovering from an illness or surgery. Private rooms, where meals are served on fine china, comfortable, flat screen televisions, oil paintings, wood accented and marble flooring all compliment the hospital room, while a baby grand piano and soothing waterfall, with valet parking greet each patient and guest. This environment is believed to calm the anxiety surrounding most hospital stays. This is done at no additional cost to the patient and given the choice it is believed that most patients would choose this environment.
University General Health System, Inc. Provides Update Regarding Annual 10K Report and Reports Significant Growth and Confidence in Business Model as Part of Major Restructuring
HOUSTON, TX -- (Marketwired) -- 06/05/14 -- University General Health System, Inc. (OTCQB: UGHS) ("University General"), a diversified, multi-specialty, integrated, physician-centric general acute care regional health care delivery system, today announced that the delay in the filing of the Company's annual Form 10-K, which was due on April 15, 2014, is due to continued challenges surrounding the following areas, which management has been addressing for over a year:
- Accounting for derivatives associated with the placement of preferred shares in April 2012
- Tax calculations
- Accounting for purchase price allocations
- Revenue cycle management reconciliations between inpatient and hospital outpatient gross revenues and net accounts receivables, which include contractual adjustments, bad debts and provision for doubtful accounts.
Humana Extends Network Participation to University General Hospital
Contract Gives Humana Members in Houston Access to University General Hospital's Doctors and Inpatient, Outpatient and Emergency Services
HOUSTON, TX -- (Marketwired) -- 05/27/14 -- Humana Inc. (NYSE: HUM), one of the nation's leading health and well-being companies, and University General Health System, Inc. (OTCQB: UGHS) have reached an agreement that provides Humana's members in-network benefits to University General Hospital, located near the Texas Medical Center.
The agreement extends in-network benefits to Houston-based University General Hospital's inpatient, outpatientand emergency services to Humana's Medicare Advantage PPO and Private Fee for Service plans and Humana's Commercial HMO, National Point of Service, PPO and Exclusive Provider Organization (EPO) plans.
University General Hospital is a general, acute-care hospital that includes a fully-staffed and licensed emergency room as well as outpatient imaging and laboratory services. University General's physicians and medical personnel provide in-patient care utilizing state-of-the-art diagnostic and surgical equipment.
UnitedHealthcare Plan Participants Now Have Access to University General Hospital
HOUSTON, TX -- (Marketwired) -- 02/25/14 -- People enrolled in UnitedHealthcare's employer-sponsored, individual, Medicare Advantage and Medicaid health plans now have access to University General Hospital in Houston, located near the Texas Medical Center.
University General Hospital is a general acute care hospital that includes a fully staffed and licensed emergency room as well as outpatient imaging, laboratory services and in-patient care.
University General's emphasis on patient comfort and favorable outcomes is evident in its Hospital Outpatient Departments, which include ambulatory surgical centers, diagnostic imaging facilities, physical therapy, sports rehab, sleep clinics and a hyperbaric wound care center. The hospital has attracted a growing number of respected surgeons and other physicians from the Houston medical community.
"We are very pleased that University General's medical care will now be available to UnitedHealthcare plan participants on an in-network basis," said Hassan Chahadeh, M.D., chairman and CEO of University General Health System, Inc., the publicly-traded parent of University General Hospital. "One of our primary goals has been to offer patient-centric care to the broadest number of people throughout the Houston metropolitan area, and by expanding access to our facility to include UnitedHealthcare customers, we will achieve this objective."
University General Health System Reports 51% Increase in Revenue for First Nine Months of 2013
Company Files Forms 10-Q for First Three Quarters of 2013 With SEC and Expects Timely Filings in 2014
HOUSTON, TX -- (Marketwired) -- 02/03/14 -- University General Health System, Inc. (OTCQB: UGHS) a diversified, integrated multi-specialty health delivery system, today announced significantly improved revenue for the third quarter and first nine months of 2013. The Company will host an investor conference call at 11:15 a.m. Eastern Time on Tuesday, February 4, 2014 to discuss third quarter and nine-month operating results and other topics of interest (see details below).
Highlights for the quarter ended September 30, 2013
- Total revenue rose 38% to $49.6 million, compared with $36 million in the third quarter of 2012.
- Net patient revenue increased 35% to approximately $43.1 million, compared with approximately $31.9 million in the quarter ended September 30, 2012. Average daily inpatient census at University General Hospital - Houston (UGH-Houston) remained stable relative to prior-year levels, reflecting an average occupancy rate of 65.0% versus 66.7% for the same period in 2012. The increase in net patient revenue was primarily attributable to the ongoing execution of the Company's physician-centric, integrated health delivery system strategy and an increase in Hospital Outpatient Revenues. University General Hospital - Dallas (UGH-Dallas) recorded an average occupancy rate of 21% of available beds. Through acquisitions, continued implementation of the integrated multi-specialty health delivery strategy, and initiatives designed to increase occupancy levels at University General Hospital - Dallas, management believes that improvement in net patient revenues will continue in 2014.
- Resident revenue for the senior living business segment approximated $2.0 million, support services revenue totaled $2.1 million, and other revenue totaled $2.4 million in the third quarter of 2013. The senior living properties reported continued stable utilization, with an overall occupancy rate in excess of 92% for the three months ended September 30, 2012.
- Net patient revenue from Medicare and Medicaid, excluding a provision for doubtful accounts, accounted for approximately 26.0 % of total net patient revenue, and revenue from commercial and managed care providers accounted for approximately 70.1% of net patient revenue, during the quarter ended September 30, 2013. This compared with 26.6% of total net patient revenue from Medicare and Medicaid and 72.6% from commercial and managed care providers in the prior-year period. Self-pay revenue increased from 0.8% of total net patient revenue in the quarter ended September 30, 2012 to 3.9% in the quarter ended September 30, 2013. The provision for doubtful accounts increased to 27.0% of patient revenue in the third quarter of 2013, versus 9.9% in the comparable 2012 period.
- Operating income approximated $2.8 million in the third quarter of 2013, versus approximately $11.7 million in the prior-year quarter. The decrease was primarily due to losses attributable to UGH-Dallas, along with investments in marketing initiatives and management and development services.
- The Company recorded net income attributable to common shareholders of $1.0 million, or $0.00 per share, in the third quarter of 2013, compared with net income attributable to common shareholders of $2.0 million, or $0.01 per share, in the comparable quarter of 2012.
- Adjusted EBITDA for the quarter totaled approximately $5.5 million in the quarter ended September 30, 2013, versus approximately $14.1 million in the third quarter of 2012. (Note: Adjusted EBITDA is a non-GAAP measure that is reconciled with GAAP results in a table at the end of this press release).
University General Hospital Outpatient Departments
- UGH 1960 Imaging Center
- UGH 1960 Physical Therapy Center
- UGH Baytown Endoscopy Center
- UGH Baytown Imaging Center
- UGH Baytown Sleep Center
- C. Foster + Associates Physical Therapy
- UGH Kingwood Physical Therapy Center
- UGH Kingwood Imaging Center
- UGH Kingwood Sleep Center
- My Quest Weight Loss Center
- Robert Horry Center For Sports & Physical Rehabilitation
- UGH Wound Care Center
- UGH Woodlands Physical Therapy Center
Houston Area Clinics & Centers
- UGHS Specialty Clinic Baytown
- UGHS Surgicare Dickinson
- UGHS Specialty Clinic Texas City
- UGHS Surgicare The Woodlands
University General Hospital Dallas Outpatient Departments
- UGH Ennis Therapy Center
- UGH Waxahachie Diagnostic Center
- UGH Waxahachie Surgery Center
- Senior Restoration
Dallas Area Clinics & Centers
- UGHS Waxahachie Pain Management Center