Radiation firm posts loss

FORT MYERS — Radiation Therapy Services posted preliminary results on Friday, reporting a net loss of $21.4 million on revenues of $167.5 million in the quarter ending Sept. 30.

The operator of cancer-treatment centers says Medicare reimbursement cuts of 15% to 20% for certain services will impact its financial results. However, those government reimbursement cuts are less than the 40% cuts that were initially proposed.

“We have a number of initiatives under way to help mitigate those effects, including cost reductions, improved managed care pricing, as well as growth through expansion and accretive acquisitions,” says Radiation Therapy President and CEO Daniel Dosoretz, in a statement.