Source: July 20, 2015 Read More →

Radiation Therapy Revenues

West Virginia Radiation Therapy Services, Inc.
Statement of Revenue and Expenses
For the Twelve Months Ending December 31, 2014
NET PATIENT SERVICE REVENUE        YTD
FEE FOR SERVICE REVENUE     $    9,084,889
OTHER INCOME         708,001
TOTAL NPS REVENUE        9,792,890
EXPENSES
COST OF THERAPY SERVICES
PHYSICIAN COMPENSATION         1,357,368
SALARIES & BENEFITS         1,704,571
MEDICAL SUPPLIES         23,182
OCCUPANCY COSTS – RENT         328,092
DEPRECIATION & AMORTIZATION         713,640
REPAIRS, MAINTENANCE & OTHER         501,159
TOTAL DIRECT COSTS        4,628,011
CENTER GROSS MARGIN        5,164,879
GENERAL & ADMIN EXPENSES
SALARIES – INDIRECT         477,216
DEPRECIATION & AMORTIZATION         21,528
BAD DEBTS         88,921
OTHER GENERAL & ADMINISTRATIVE        1,194,339
TOTAL G & A EXPENSES        1,782,004
TOTAL OPERATING EXPENSES         6,410,015
TOTAL OPERATING INCOME         3,382,875
INTEREST EXPENSE (NET)         40,710
EARNINGS BEFORE TAXES         3,342,165
INCOME TAX EXPENSE         –
NET INCOME (LOSS)        3,342,165
West Virginia Radiation Therapy Services, Inc.
Balance Sheet
For the Twelve Months Ending December 31, 2014
ASSETS        YTD
CASH        –
ACCOUNTS RECEIVABLE         17,488,932
PREPAID EXPENSES         26,279
DEFERRED INCOME TAXES         26,259
TOTAL CURRENT ASSETS        17,541,470
PROP, PLANT & EQUIPMENT, NET         1,979,358
GOODWILL, NET         17,929,841
DEFERRED INCOME TAXES         –
OTHER ASSETS        293
TOTAL ASSETS        37,450,962
LIABILITIES & EQUITY
CURRENT LIABILITIES
ACCOUNTS PAYABLE         2,607,078
ACCRUED EXPENSES         1,625,295
CURRENT PORTION LTD         275,078
TOTAL CURRENT LIABILITIES        4,507,451
LONG-TERM LIABILITIES
LTD LESS CURRENT PORTION         145,350
DEFERRED INCOME TAXES         3,429,838
TTL LONG TERM LIABILITIES        3,575,188
TOTAL LIABILITIES        8,082,639

TOTAL LIABILITIES & INTERCO ITEMS        8,082,639
EQUITY
PAID IN CAPITAL        30,025,090
RETAINED EARNINGS        (656,767)
TOTAL STOCKHOLDER’S EQUITY        29,368,323
TOTAL LIABILITIES & EQUITY        37,450,962
West Virginia Radiation Therapy Services, Inc.
Statement Of Equity
Additional    Retained    Total
Paid in Capital    Earnings    Equity
Balance,
December 31, 2013    $ 30,025,090          $ (3,998,932)    $ 26,026,158
Net Income                         $   3,342,165      $   3,342,165
Contribution of Equity            –
Balance,
December 31, 2014     $ 30,025,090          $    (656,767)    $ 29,368,323
West Virginia Radiation Therapy Services, Inc. is a wholly-owned subsidiary of Radiation Therapy Services, Inc.
Details of this ad are available for copying and public inspection at the Health Care Authority, 100 Dee Drive, Charleston, WV 25311.