Medicare reimbursement reductions related to the Deficit Reduction Act (DRA) of 2005 and Medicare's reimbursement cuts for PET and PET/CT adversely affected financial results for imaging services provider Alliance Imaging in 2007.
Revenues for the Anaheim, CA-based company slipped 2% to $444.9 million in 2007, compared with $455.8 million in 2006. Net income declined to $16.2 million, compared with $18.6 million in 2006.
For the fourth quarter (end-December 31), revenues increased 2% to $113.6 million, compared with $111.7 million in the fourth quarter of 2006. Net income decreased to $1.8 million in the fourth quarter, compared with $3.9 million in the same quarter of 2006.
Related Reading
Alliance closes $150 million in senior notes, December 6, 2007
Alliance buys 8 radiation therapy centers, November 6, 2007
Alliance feels DRA's bite in Q2 results, August 3, 2007
Alliance reports drop in Q1 revenues, May 1, 2007
Alliance posts revenue growth in 2006, February 22, 2007
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