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Select Medical (SEM) Expands Rehabilitation Services in Central PA
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Select Medical Holdings Corporation (SEM - Free Report) recently collaborated with Pittsburgh-based healthcare provider, UPMC, to unveil plans to open a satellite facility of the original Helen M. Simpson Rehabilitation Hospital, a joint venture hospital of SEM and UPMC. A satellite facility, as defined in SEM’s annual filing, is a long-term care hospital (“LTCH”) that uses the same Medicare provider number as its affiliated "primary site" LTCH and is generally located within 35 miles of the primary site. Satellite LTCHs must be administered by the primary site LTCH and comply with specific requirements to operate as part of the main LTCH.
The satellite facility is expected to commence operations in the second quarter of 2025 and will contain 20 beds. It will be located on the newly renovated fifth floor of UPMC West Shore and will be a part of UPMC's expanding West Shore campus. Equipped with 166 beds, UPMC West Shore is a five-story acute care hospital featuring all private rooms.
The newly announced facility will comprise a cutting-edge therapy gym and sophisticated rehabilitation technologies designed to treat patients grappling with stroke, spinal cord and brain injuries, amputations, neurological disorders and orthopedic conditions. This, in turn, is expected to provide seamless access to effective acute inpatient rehabilitation services post the discharge of a patient from the hospital and cater to the evolving needs of Central Pennsylvania's West Shore area.
Offering inpatient rehabilitation services within the West Shore campus eliminates the necessity for patients to be transferred to an off-site location, thereby ensuring better continuity of care with their UPMC providers. This may also provide relief to UPMC West Shore patients.
With the latest move, the keen interest of Select Medical to capitalize on the increased demand for specialized inpatient rehabilitation care throughout Central Pennsylvania and bring improved health outcomes to the West Shore communities is apparent. Such moves are also likely to strengthen SEM’s footprint across Central Pennsylvania. Alongside the new satellite hospital established through the UPMC joint venture, SEM also manages two inpatient rehabilitation hospitals and three critical illness recovery hospitals across the region.
Select Medical often resorts to joint ventures with several U.S. healthcare providers through which it utilizes the collective expertise to extend advanced coordinated care across communities grappling with inadequate access to care.
Expansion initiatives, similar to the latest one, are likely to boost SEM’s revenues from its rehabilitation hospitals, whose count was 33 as of Mar 31, 2024. The Rehabilitation Hospital segment accounted for nearly 14% of Select Medical’s overall top line in the first quarter. Apart from rehabilitation hospitals, SEM’s care network comprised critical illness recovery hospitals, outpatient rehabilitation clinics and occupational health centers of 107, 1,922 and 547, respectively, across several U.S. states and the District of Columbia.
Shares of Select Medical have gained 17.6% in the past year compared with the industry’s 8.1% growth. SEM currently carries a Zacks Rank #3 (Hold).
Corcept Therapeutics’ earnings surpassed estimates in each of the last four quarters, the average surprise being 31.25%. The Zacks Consensus Estimate for CORT’s 2024 earnings indicates a rise of 1.1% while the same for revenues implies an improvement of 31.1% from the respective year-earlier actuals. The consensus mark for CORT’s earnings has moved 5.6% north in the past 60 days.
The bottom line of Cigna outpaced estimates in each of the trailing four quarters, the average surprise being 3.29%. The Zacks Consensus Estimate for CI’s 2024 earnings indicates a rise of 13.5% while the same for revenues implies an improvement of 20.7% from the respective year-earlier actuals. The consensus mark for CI’s earnings has moved 0.1% north in the past 60 days.
Elevance Health’s earnings surpassed estimates in each of the last four quarters, the average surprise being 2.77%. The Zacks Consensus Estimate for ELV’s 2024 earnings indicates a rise of 12.4% while the same for revenues implies an improvement of 0.9% from the respective year-earlier actuals. The stock has witnessed two upward estimate revisions for 2024 earnings compared with none down in the past 60 days.
Shares of Corcept Therapeutics, Cigna and Elevance Health have gained 36.2%, 23.3% and 28.8%, respectively, in the past year.
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Select Medical (SEM) Expands Rehabilitation Services in Central PA
Select Medical Holdings Corporation (SEM - Free Report) recently collaborated with Pittsburgh-based healthcare provider, UPMC, to unveil plans to open a satellite facility of the original Helen M. Simpson Rehabilitation Hospital, a joint venture hospital of SEM and UPMC. A satellite facility, as defined in SEM’s annual filing, is a long-term care hospital (“LTCH”) that uses the same Medicare provider number as its affiliated "primary site" LTCH and is generally located within 35 miles of the primary site. Satellite LTCHs must be administered by the primary site LTCH and comply with specific requirements to operate as part of the main LTCH.
The satellite facility is expected to commence operations in the second quarter of 2025 and will contain 20 beds. It will be located on the newly renovated fifth floor of UPMC West Shore and will be a part of UPMC's expanding West Shore campus. Equipped with 166 beds, UPMC West Shore is a five-story acute care hospital featuring all private rooms.
The newly announced facility will comprise a cutting-edge therapy gym and sophisticated rehabilitation technologies designed to treat patients grappling with stroke, spinal cord and brain injuries, amputations, neurological disorders and orthopedic conditions. This, in turn, is expected to provide seamless access to effective acute inpatient rehabilitation services post the discharge of a patient from the hospital and cater to the evolving needs of Central Pennsylvania's West Shore area.
Offering inpatient rehabilitation services within the West Shore campus eliminates the necessity for patients to be transferred to an off-site location, thereby ensuring better continuity of care with their UPMC providers. This may also provide relief to UPMC West Shore patients.
With the latest move, the keen interest of Select Medical to capitalize on the increased demand for specialized inpatient rehabilitation care throughout Central Pennsylvania and bring improved health outcomes to the West Shore communities is apparent. Such moves are also likely to strengthen SEM’s footprint across Central Pennsylvania. Alongside the new satellite hospital established through the UPMC joint venture, SEM also manages two inpatient rehabilitation hospitals and three critical illness recovery hospitals across the region.
Select Medical often resorts to joint ventures with several U.S. healthcare providers through which it utilizes the collective expertise to extend advanced coordinated care across communities grappling with inadequate access to care.
Expansion initiatives, similar to the latest one, are likely to boost SEM’s revenues from its rehabilitation hospitals, whose count was 33 as of Mar 31, 2024. The Rehabilitation Hospital segment accounted for nearly 14% of Select Medical’s overall top line in the first quarter. Apart from rehabilitation hospitals, SEM’s care network comprised critical illness recovery hospitals, outpatient rehabilitation clinics and occupational health centers of 107, 1,922 and 547, respectively, across several U.S. states and the District of Columbia.
Shares of Select Medical have gained 17.6% in the past year compared with the industry’s 8.1% growth. SEM currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some better-ranked stocks in the Medical space are Corcept Therapeutics Incorporated (CORT - Free Report) , The Cigna Group (CI - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) . While Corcept Therapeutics sports a Zacks Rank #1 (Strong Buy), Cigna and HCA Healthcare carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Corcept Therapeutics’ earnings surpassed estimates in each of the last four quarters, the average surprise being 31.25%. The Zacks Consensus Estimate for CORT’s 2024 earnings indicates a rise of 1.1% while the same for revenues implies an improvement of 31.1% from the respective year-earlier actuals. The consensus mark for CORT’s earnings has moved 5.6% north in the past 60 days.
The bottom line of Cigna outpaced estimates in each of the trailing four quarters, the average surprise being 3.29%. The Zacks Consensus Estimate for CI’s 2024 earnings indicates a rise of 13.5% while the same for revenues implies an improvement of 20.7% from the respective year-earlier actuals. The consensus mark for CI’s earnings has moved 0.1% north in the past 60 days.
Elevance Health’s earnings surpassed estimates in each of the last four quarters, the average surprise being 2.77%. The Zacks Consensus Estimate for ELV’s 2024 earnings indicates a rise of 12.4% while the same for revenues implies an improvement of 0.9% from the respective year-earlier actuals. The stock has witnessed two upward estimate revisions for 2024 earnings compared with none down in the past 60 days.
Shares of Corcept Therapeutics, Cigna and Elevance Health have gained 36.2%, 23.3% and 28.8%, respectively, in the past year.