Spine Pain Management, a medical marketing, management, billing and collection company facilitating treatment for patients who have sustained spine injuries resulting from traumatic accidents, has reported $1,606,757 in gross service revenues for the third quarter ended 30 September 2010.
Gross service revenues were offset in part by $750,660 of standard allowance for discount, resulting in net revenue of $856,097, Spine Pain Management said.
Net income for the third quarter was $267,891 or $.02 per share.
Gross service revenues for the nine months ended 30 September 2010 were $4,791,016, offset in part by $ 2,245,276 of standard allowance for discount, resulting in net revenue of $2,545,740.
Net income for the nine month period was $893,246 or $.05 per share.
CEO William Donovan said that since the operational opening of first clinic in August of 2009, they have completed four profitable quarters. This is certainly an uncommon event for a new business that has been operating for such a short time.
“We feel that we have honed our procedures and operations to a point that enables further growth. We are now in the process of expanding outside of Texas,” Donovan said.