CYH - Earnings call transcript Q4 2020 | Community Health Systems, Inc.

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Operator

Ladies and gentlemen, thank you for standing by. And welcome to Community Health Systems' Fourth Quarter and Year-End 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised, that today's conference is being recorded. now today, hand Mr. would to conference I speaker your Instructions] like the to over [Operator Ross Vice Comeaux, President of Investor Relations. you. Thank ahead. go Please

Ross Comeaux

Thank year-end and fourth morning you, Community Mike. Systems' Health welcome quarter call. conference to XXXX and Good

Joining Executive Hingtgen, Executive me Chief Vice of Operations President Officer; Tim Officer; Medical Officer. President Chief and Simon, and today Chief today's Lynn and are on Clinical -- call Dr. Kevin Financial Hammons,

filed statements may including to like statements remind that contain I'd certain relate a started, known call the Securities forward-looking or Exchange of forward-looking our described Factors furnished statements not or Commission. which are get and we do are in Before historical subject current in reports headings all These Annual this Report number that XX-K with everyone unknown to as Form to conference solely Risk facts. and to such on risk, other and

differ forward-looking intend discussion. those actual EPS. we As from and adjusted expressed release significantly issued consequence any a update of to we any in statements. And financial calculations EBITDA these press adjusted of results Yesterday a definitions statements our forward-looking and afternoon today's in do may with statements and not

of you our has For the those slide this listening conference supplemental live been of a broadcast website. call, to to presentation posted

call as gain well will loss as related expenses from from being to during which the change related over on liability notes; employee for the those calculations of of said, or recorded expense this underlying exclude Executive impairment Chief charges; insurers to the settlement the related and like obligations to expenses termination allowances from the for slides discuss CVR; professional refer and from government legal company is other legal litigated; Officer. and expense for sale also promissory businesses; costs; insure settlements benefits With that or and restructuring Tim to for change we early expenses I'd claims to of liability cases covered income by estimate other accrual. We and claims Hingtgen, earnings third-party turn losses call. will to valuation the expenses in in All debt; extinguishment professional gains loss the settlement

Tim Hingtgen

morning front-line health were care that and focused other strategic a them. we workers and were teams care impact Ross you, other. we communities care to and conference on We serve, year-end the efforts excitement and hospital the essential laser welcome sense professionalism lives of good meaningful for we XXXX of as and of year forward. Because no has XXXX entered the quarter industry. everyone our priorities was regarding our proud compassion incredibly considerable our to the this, COVID and had throughout in support Thank the certainly XXXX of with XXXX, I'm future. fourth a leadership important prolonged a but managing resourcefulness COVID-XX the us also and opportunities the able on of for corporate call. like health impacted move pandemic and provided and our of front

month provided back categories. the non-COVID as January. and Let patients volumes those just majority with negatively impacted more quarter with in pandemic. In volumes certain me year, throughout the in during XX,XXX inpatient hospitals were quarter, than comments this experience few our fourth inpatient The of of last We alone. care start in care demand during a turn year. admissions admissions more our peaking COVID XX,XXX the the about COVID-XX for each expense potentially than as the COVID health increased well elective half

to hospital supporting the the due has negative three recover industry, in COVID-XX impact CARES Act our the of believe pandemic, from ability of course During we to for factors. been the addition to

which for other in philosophy and First, COVID-XX also health we to But essential we patients. prioritize maintaining care track committed implemented services. restoring dual operating we rapidly a

of demands the were manner. Our a regarding balancing services, teams in the proactive and of both non-COVID very safe hospital effective reopening patient COVID care and

we activities during worked to staff in monitoring necessary adjusted operational the for effective third, our And and of provide cost very throughout to management. real-time challenges the and been courageous continuously hard year again who support resources are Second, we employees and pandemic. the medical ensure committed have the

their alignment medical are together certain medical care especially particularly various grateful following they partnerships work services. our hospitals was we this year for and to for staffs shutdown orders, important Additional patients, strong between in and shelter-in-place required and

continued also initiatives throughout pandemic, important expectations. continue and divestiture more we most network add our our we coming above plan Investments in to promising in announced Many formally priorities of our portfolio We core While proceeds completed managing and to identify returns company-wide our execute strategies showed our across expansion. for opportunities the year. the value. with

partnership with care nearly we fee-for-service market, example, or on XXX,XXX across very providers perform and Care For to our the for Accountable X,XXX and value. ACOs Organizations Medicare patients well with our focus continue approximately quality

from to each its shared inception. year since the We savings continued our have increase program

virtual our hospitals Our our expanded higher program levels visits delivering from admissions facilities. transfer than access transferred patients telehealth our telehealth more care XXXX. in continues with as again more $XXX,XXX into center of non-CHS are to to providers And provide convenient requiring

to our successful transactions. significant well. both strong strategic of incremental and the had across summary, program generate to confident savings Our company XXXX, results In our number result capital and a due structure in strategic year. strong as will the improved priorities, margin a operational And focused execution of significantly a are finish we we it forward and produced going results improvement as

X.X%. revenue the quarter, year. increased million from quarter million $XXX XXXX last Our EBITDA in up same-store Adjusted was net fourth $XXX

year funds, relief over pandemic X% Excluding up million, EBITDA was adjusted $XXX the quarter. prior

admissions, particularly patients during sequential volumes line quarter, the [indiscernible]. COVID continued showing fourth and as cases in indirectly While deferred COVID surgery impact as to improvement adjusted the admissions on our more care

that opportunities growth side the produce on should both business. outpatient strategic and via forward inpatient Looking of

state now growth Sunbelt population in is Our with concentrated portfolio higher demographics, economic attractive of and opportunity. hospitals primarily

new to core forward. multiple allocation Our that pin-point high are on enables most portfolio, along micro growth and opened sources we market company incremental Northwest return demand This detailed market growth. our [indiscernible] coupled capital each stronger Through portfolio process help procedural to positions with we've This La Tucson, replacement utilize trend few the and markets in XXX the over each volume Birmingham, suites. towards Arkansas, within process, In a of and added XX effective capital to and and continuing and investments planning the years investments a Wayne meet this then in in a Across that for particular hospital prioritize positive market. past Indiana. bolster investment surgical Tucson effective leverages like and data intelligence with new Knoxville, Naples, strategy other going drive resources Porte, others. hospital Fort XXXX, in beds we

Fort another and We in Wayne this hospital early another in will later hospital add replacement de novo open in year XXXX. Tucson

our expand surgery on continues services. of physician lines, and urgent into and more the be that emphasis side. on EDs, our In on moving company. locations ambulatory the entry availability of our in area our a the convenient about to active forward. we increasing Health departments. We ASCs, further emergency ambulatory care developing growth networks development care in designed care our both on consumers freestanding side inpatient to acuity and are service further centers focus providing satisfy points thereby care More our And development the along accessibility centers acute three three expectations path successfully consumer in new are freestanding a health of services to practice with XXXX levels development. and environments evolving the and sharp are we continue opened stronger investments under new the With outpatient care portfolio, out-of-hospital our expansion networks, pipeline for

with help our telehealth, in implement both I improve digital be interactions deployment and patient-communication And before, as elevate continue quality. experience patients an help further that well care, mentioned We continues for gaps development. as tools and which these to to rate interact opportunity capital and us

builds and expectations processes one also across We on which and navigate care further from to loyalties. have setting technologies, helps network brand services the to focused been next, leveraging

about Going enhanced initiatives value continue to in and the are clinical operational designed increase to to opportunities patients strategic, support forward, and enthusiastic corporate market provide our for markets care and patient our hospital in continue team enhance leadership the their we serve. share, teams our we that so communities

leverage. incrementally the our In on margin We free leverage our term, are driving flow margins plus EBITDA targeting we positive reducing below and EBITDA improving cash higher X XX% net are lowering times. and focused and medium revenue, EBITDA and

organization. we've an in doing are even all so resolute strategies of we As these XXXX, as stronger a seen more

the be progress not a strategic organization is portfolio excited priorities the to entire strong patients Our year. pandemic, responding where future. needs also could the on proud while today, CHS operational throughout is the marked and throughout achieving our about of this I of and greatest is more

As and that position all over value call our of stakeholders. continuing me to I the turn a to that, remain to we With for strengthen confident the are result, build long-term company Kevin. let

Kevin Hammons

morning and Tim, everyone. you, Thank good

As for year Tim described XXXX was the transformational company. a

year strategic strong. well considerable some quarter finished walk recent and the we highlights. the as going on through pandemic, the some the details we as global As Today, and full progress I'm other year navigated financial made fourth to

net higher and payer rates year at in up admission. comprised down in adjusted EBITDA last was admissions million, X.X% net on divestitures. basis, to was quarter, $XXX our This revenues Adjusted increased X.X% XX.X%. decrease a a of On adjusted per and same-store X.X%. adjusted revenues $X.XXX due from per in the revenue increase QX benefited During Similar admission the operating consolidated net better from acuity, prior a mix. net XX.X% basis, came billion, a to increased revenue

During basis the well same-store Similar were and benefits, million executed $XXX and expenses, basis the good teams pandemic quarter year-over-year of funds. to which points a year-over-year expense on quarter, recorded our and a services categories, same-store including a number hospital EBITDA, that lower basis. salaries, other of XXX XX relief lower and management purchase, on were basis we with which across leadership included points wages third in

improvement deliver cost for Our continues program additional planned this beyond. strategic and reductions savings XXXX to with margin program from

to operations lab COVID-XX, our of During pandemic. on flows related year-over-year by basis, impacted of negatively compares increasing cash same-store the testing PPE, XX flow fourth a pharmaceutical, Switching supplies increased quarter provided fourth to operations to for basis XXXX. of points to quarter, fourth costs flow; the to owing however the million $XX million $XXX quarter during expense continued be from by and the supply XXXX. This cash were cash

fourth approximately XXXX repaid pandemic divestitures $XX of timing during company the liability $XX flows due the payments. interest were Looking relief at claim The the the professional due in quarter the funds, payments approximately million million quarter and quarter-over-quarter million company during part decrease, The to accelerated decreases $XX were a Medicare to higher in approximately to cash increases other of in offset. of this and recent payments fourth quarter. related cash to paid and

improved to flows company receiving million $XXX the full-year collections as company of operations the including The For $X.X company other approximately CARES the cash billion the decreases year capital payroll operations Provider Relief under management. increases of approximately our in tax during the and Medicare The million were cash of of of working billion. was approximately provided prior $XXX were payments. was CARES AR and accelerated defer cash XXXX. million XXXX, attributable result flows increase flows from able cash $X.X received XXXX to year over in Act. the also Act This by and compares full to The generally $XXX offsets, from a Grants

our the divestitures. a We for invested CapEx capital year. despite similar amount to Turning of

was for compared year. of million Our prior XXXX X.X% revenue revenue, of million the $XXX $XXX or CapEx to year net full net in or X.X%

strengthen as to capital a of opportunities. And core mentioned, look have we we additional to Tim our As forward, we into growth high invest good portfolio pipeline continued markets. our

relief $XXX At the to million end on had As liquidity, with borrowings the it ability to capacity had outstanding December $X.X cash Switching company increase balance $X the Act CARES the relates billion. it pandemic of of the sheet. the ABL and to borrowing the fourth to under company base of no XX, at and billion funds. up approximately quarter, the

that targeted During general $XXX currently in approximately approximately approximately to million million year. anticipate in The million received $XXX and the funds Fund on is of in full remaining from deferred XXXX. and of Public liability fourth a balance quarter for million our during as sheet recognize income and recognized portion relief XXXX CARES and Act We the Social the Emergency through $XXX the a being we both $XXX the Services distributions. Health substantial we able

the transactions are program, of formal completed In have the plan. proceeds. terms quarter, fourth incremental the completed generated we in pleased approximately million we From divestiture $XXX to our of

interest we regarding future transactions We assess continue any inbound events. of to and potential benefit to receive will the continue

balance sheet We the of made improvements approximately end near-term the and the to long-term we and Moving structure. had At significant $XX.X billion during of capital fourth year. the debt maturities. quarter, no

a we On number of transactions. the capital side, executed structure recent

company Combined, in As exchange $XXX In $XX stock debt. launched repurchase million during on use $XX retirement. an $XXX executed of executed quarter, cash cash of And a these $XXX $XXX a million approximately offer, of allowed cash XX which of program we retire transactions which of we open purchase October late to discount million third debt and an tender million the we cash December, utilizing our million to us we shares debt. of of reminder, to ultimately captured used million million $XXX market to of debt million in debt. repurchase

will billion these approximately lien Following extended in extended debt. we second XXXX January, billion paid by million. $X.X to December, to and leverage lien and we notes to maturities we annual all notes by transactions, first maturity rate our notes and profile. interest. annual few past purchase month. of X.X unsecured the the with includes we lien later up In call slide XXXX, our these our our lowered we this forma have remaining $XXX XXXX of approximately bonds reduced I extended supplemental and first during mentioned. refinancings Adding the debt fund then XXXX. In run approximately XXXX and we turns million extended XXXX we of $X.X and debt, over just of the billion This billion $X.X $X.X interest included Also these year, of On pro following available past presentation, cash cash Slide lowered have off debt together, quarters, this cash have we XX transactions, $XXX slide significantly notes

until not due Our is now June next maturity XXXX.

shares $X.X which share walk operating shares. to be to be $XX.X repayments is to be million. be diluted million payments. will the between through are million is between not to cash operations to recognition Cash be forecasted $XX.X billion. anticipated to of additional $XXX I $XXX average outstanding funds. flow $XXX $XXX include Adjusted weighted between and on million million $X.XX $XXX income at based to Now, from CapEx billion anticipated excluding is pandemic XXXX our share Net potential anticipated to billion is is of to accelerated $XXX XXX expected XXX to $X.XX EBITDA to billion, million million guide. does revenues per to million relief the expected full-year interest Net $X.X of per Medicare

XXXX. build savings half In of terms throughout expect program back cost to from reductions improvement of in XXXX, the expense we strategic -- with our more significant year the margin

in our now increase call year, the the expect of generally sequentially the quarter being during over EBITDA fourth the such, strongest terms our we year of turn cadence EBITDA of the you. for back with to to As Ross, year. EBITDA I'll quarter the performance

Ross Comeaux

Tim Kevin. we're call ready open up this At Thanks, Mike, for and point, questions. to the

limit XXX-XXX-XXXX. everyone will but can reach as always, one today, at We question us you to

Operator

Frank [Operator from Markets. Capital Morgan Instructions] RBC first Your comes from question

Frank Morgan

is me more When side, mid-teens intermediate And times sub flow margin think more of to longer-term right verify mean hospitals the your either X, the on there? there your said CapEx? already factored term, was guess one now CapEx, of have are if getting flow, hospital really guidance was you because cash January you just view guys. X on three just EBITDA? like job, wanted Great margins and procedure something that the of morning. Thanks. I the or already I getting pretty target close a cash I that I Is to that over leverage function there the had Good that and about curious you expansion, this want in are excuse of I subject I'm think to or verify that more there the is just in the on that closed

Kevin Hammons

off This is Kevin. I'll Sure, Frank. start here.

we get continue about structure grow to that additional think through our below as gearing a lot growth. expect believe into EBITDA levered, to we we certainly there and grow organic some growth As naturally capital X and as our times will EBITDA margin of well

some points markets have So our and as growth in generating there. we think close we additional the think through did guidance generation move access factored we'll and there as well. the the guidance, into flow we also to positive of about are capital future our as we're this at the those we out our for with that free portfolio, core get flow We'll that With into all reductions cash hospitals I be believe respect cash opportunities spending, point. are debt opportunities already, some the

Operator

question from next comes Josh Your Nephron Research. from Raskin

Josh Raskin

Hi, just an Could your give outpatient on update development. good you thanks and morning.

three put heard million year. of I million freestanding perhaps $XXX CapEx in EDs $XXX the three to and this think in that's expected context ASCs Maybe I year? this the that

Tim Hingtgen

And Hey, three pipeline putting entry year. our us bullish it care low regular some strategies. opened expand maybe we good a freestanding generally, that care points. our again kick and cost relatively on really we quarterly really XX But, I'm side, Josh, EDs group points with for year, online the at those primary off several perspective again of care you then the can of really also this quarters leadership have in lines teams, Kevin our updates traditional scheduled pleased the really Tim. at sight and in We've in given where more of surgery seeing our those year. care three pleased is opportunities I'm market, that walking primary last more open front, on three to now, this not so our on scheduled really our the this centers, company with our our calls partnership the of in access right wrap capital-intensive here last And on over is all. surgeons total ASC the and and CapEx come we up our access it ambulatory point the markets, our with our urgent the hospital in with spend. advancement into I'll work with can with

very working every in pipeline, So our day. remarks, we as are we active said

I more portfolio now in with be could the opportunities partners physician types terms us. status the Just development of pleased with want of join having right forces of to and these who

Lynn Simon

touched projects. I a And to type really there on key These related capital overly was not spending. think capital-intensive Kevin point Tim are our

and are those So are and get and forth to projections, initiatives of make we accelerate all guidance opportunity into our some moving quickly. along baked with sure our points capital those that also leasing and pipeline have these access we so

Operator

Your Brian next comes question Jefferies. from Tanquilut from

Brian Tanquilut

morning good this X think X you of and is -- service less as first also, EBITDA sort is to think we target? Tim, and I capital guys. inpatient question. SWB about I that this do How gave get spend to the to question. -- times drivers, what margin, medium-term be than of need mix mean I I'll to Frank's guidance. mostly line kind shifting changes and mixes my times or between Hey, part in guidance medium my like outpatient guess mix term leverage a the you then that And kind you right. going of is just on guess, you just follow-up of XX% define do

Kevin Hammons

off Kevin. Brian, Hey, is this start I'll here.

one four getting we're years, kind five sooner So two in term, than not in years. but of of as year that medium there defining certainly anticipating to terms

four And come So does two I with growth some think we'll through define to expansion. that our lot has initiatives, the regard to, margin a years. it of of

rate somewhat of the you'll a and talked percent past in our the fewer been as core is terms with In divestitures on of diluted and a as that's there in capital portfolio a and of year I about to think what revenue in capital the hospitals. get we've more XXXX divestitures just see spending, of been of revenue revenue has because net normalized this we run

$XXX the to will a that everything the as hospitals You'll rate. $XXX current And capital see our we do a of estimating much of run percent spend I our million us but like to that revenue million net more we're need this think give normalized year. spending core to

Tim Hingtgen

preaching of right a Brian and I comes on on margin organization Tim. in also of over incremental portfolio, because we're made from, to improving our the expansion fixed terms mean still revenue -- lot the as and of opportunities side. seeing this some We're last a frankly we with incremental Hey in so of our many balanced cost years balanced cost I'll it add stronger margin the expansion is in into Kevin's capacity. markets, now, the the backing where comments. our investments couple

that's driving think strategic as long-term our we The on that see service we balance both with other to acuity, is at and transfer the our that. we our center, inpatient into we continue processes to with investments through opportunities and development outpatient lines, our looking the to markets tremendous just opportunities staff side planning part and of leverage medical go with prospects key preach

Operator

Ralph from comes from Citi. question next Your Giacobbe

Ralph Giacobbe

a little maybe affect if more XXXX XXXX Thank volume us perhaps core little and impact pricing of COVID assumptions started, then more in the of that's the just what in you quarter? either us a and recently, there given sense you guidance and specifically of there I the give particularly sense -- maybe bit of has baseline? it could how whether a give frame bit was a thanks. for hoping that the weather Can of Great, terms I sense you. baked you of been first one. year just and that And in off or could underlying give or squeeze Can south quick us one and just how across Texas, trends of been

Tim Hingtgen

of is progression. it this COVID and kick go terms off Tim, in I'll Ralph the ahead

COVID admissions were a pointed I XX,XXX quarter. which had increase -- sizable third our it relatively, we positive quarter, markets. the from in hospitals sorry the say earlier, about I'm way We I'll as was our evolved out to fourth X,XXX the spared As over

really obviously, and the and the in had good balance inpatients COVID of for of the strong frankly reopening last nearly really with quarter a So as we our we little positive shared speak discussion underway. program the as effectively. in didn't third our X,XXX we because the cases, dual a in felt quarter earnings as manage you very about series with a able had little progressed, impact quarter we efforts impact release. track to we second that more still the is shutdown, were quarter. It elective We that the colleagues I were year impacted mean bit no second volumes guys, and wave our on have an that that COVID elective time revenue

capacity of see the in preserve and COVID limitations again terms about having care. With did more latest COVID to inpatient. wave We XX,XXX some for patient was

in think whatever for deferred and I an to for step is it frankly elective helping and vaccination to consumer best We case may was reluctant had wait also and the be. hospitals increase care our into

are focused on so Again we now the getting the with being successfully quarter our deployed good run ways. on particular we're in said, of Now plan to game reopening this business right in a in. back that pretty rate be very from prior

intra-quarter, just it our with opportunity that's past results? the impacting an of lot patients have with COVID, to defer news, of this in do We week add in particular unfortunately had and but us response we terms in gave the to past have you care. continue COVID good had like a cancel markets, we to weather to happen or major so have work event Lynn our anything this

Lynn Simon

think the I covered quarter. I increased fourth it particularly they well, you No, that think in

Kevin Hammons

guidance. this your is related question Kevin, on Ralph, to And

and gave that current So the started in different of number a terms guidance. we a as of the this to it volume, range and variables little of up in with related seen coming may to kind to to a a due the We payer scenarios we with variability kind of result all multiple uncertainty and at looking those on bottoms-up start really COVID, wider when vaccination is acuity around range. happen really have scenarios multiple considering the of any approach. a of without mix them. some from a give what of how at top-down variables the one looked impact, we're really year and build have is off may it's specific really site of difficult We There

answer. about is multiple you So I thinking more higher volume with you volume we're lower to the and the there ways, get still it, if get just midpoint same and and the of acuity range or can way about if think there think less the and acuity

Operator

Your next of Fischbeck from question comes Kevin Bank from America.

Kevin Fischbeck

cost anymore? don't or the pressure the the going were the as as exacerbate retire year? that year Okay, of there's seeing you great, as be get will or will thanks. snapback Could whether on I labor labor maybe you people on for I margin guess source competing views costs you some look that conflicting was quarantine a wondering how it to utilization? were thinking for? labor goes about you whether in looking back need you're that better etcetera or to nurses is expecting you in Are see expansion shortage

Kevin Hammons

and off start here -- have We Kevin. I'll

the cost and as terms think labor taking of care I have, in our employees this of pandemic. managing our as through in extremely our of past job good well productivity of year done We an terms

that's so we'd there on some pressures the we'll the well the some think is course which as the will the labor and of as pressure the just nurses some look of is is expect relieved is, the well now there be traveling as as to the think think right through of place, that of labor I year costs and forth because that that system. as in we forward, over of we as labor able costs some continuing pressures. on, And pressure -- that manage everyone decrease offset of we aware overall, have to programs COVID certainly I as of of on productivity and cost some the put

Tim Hingtgen

Kevin, is this Hey, Tim.

on-campus the recruitment we've need mindful put particularly add key close internal and staffing nurses invested to some a there markets of We've resources. obviously retention went where focused focused building a before service XX:XXng throughout nursing journey them of out that, on fill clinicians us stuff start pipeline stronger our early with and we to capital run. nursery up of those networks have Just to always to a for using programs College COVID pandemic, nurses always resources markets, ready select That really into in our some nurses, to line capacity. doing nursing the bring set partner macro the staffing, then as recruiting that certainly support and with their company's dynamics in COVID to our that of company in a supplier clinical on general, care. In with and we're the over always Jersey in long on functions

are next that types years. development of those are watch we'll So over the the couple partnerships of new. that But

scholarships position. most some where have relationships of communities our nursing across for also faculty long-standing with We programs we fund

of end the quality nurses. we're So the supporting front stay development to trying high of on

Operator

comes from question Barclays. And our from Andrew last Mok

Andrew Mok

declined Cases morning. peak. from good Hi, January

utilization comment you're was provide Medicare is Thanks. non-COVID an populations? seeing hoping quickly the for any commercial how and you the hospital maybe and between differences I So update re-entering could system on

Tim Hingtgen

ahead it Andrew, go this Tim. off. kick I'll is and

of peak earlier, current rebound wave this cases In terms I as mid-January. in the of said

slower ways subsequent in we redeployment COVID A the of in plan, and X. just like our some have ways. our communities. in of I'm active already X previous to wave wave sorry, rebound bit little of are We

more to a from vaccine that I little want our some the hearing hesitancy, patient to effect. to think bit patients getting providers wait vaccine now take and for largely are we're that due

So staying bringing back optimism patients. terms the well say underway same is reducing for that into we our close system, playbook But with that of to patients spread that would the the bode the us in all healthcare mid-term. in vaccinated, near with

back to in as working schedules we've have As our sure to as practices practices, as patients capacity physician doing so. independent those practices make patients well rescheduled, quickly worked comfortable have when they're that as employee we're we with get

in here, up seeing This did game that in I important for not part at weather of be weekly for bit our a of for earlier, volumes. in Frankly with part Southern of this providers still to a in anything keeping said is has that the Saturdays think upon else on to what but hit were the canceled, looking part, Kevin, the markets, I we the plan we extending setback we're to same the weather and some and event that little for us. our other The as quite convenient Sunbelt. that's I'm built of most have many revenue and schedules track week, put impact make the country patients and what's our cases doing add? improvements

Kevin Hammons

to and seen the only the other we've is, thing come I change in not it real patient start would in. think I captured I add think back procedures there as well any at mix point, you the this

Operator

to over call the remarks. turn now Mr. will closing Tim Hingtgen I for

Tim Hingtgen

team want forward and gratitude at committed exceptional for this the We hospital serve. across of we express our forefront providing to are several a plan call for quarters, communities employees, past how our which to time would remain of our team strong all to company's for This progress thank like Mike. of again, us at leadership reach the and the today. leadership with a again XXX-XXX-XXXX. included And express providers, grateful we the have questions again, if would always to XXXX. everyone you I once have care all we once ability presidents regional look on pandemic you opportunities to all physicians, concludes to us who and demonstrating And upon all you, have great I been today. like Thank and any execute to day. was XXXX. to updating Thanks my of our throughout spending you also effectively to can finish our throughout We

Operator

call. concludes you participating. conference and Ladies gentlemen, today's this Thank for

You may disconnect. now

Community Health Systems (CYH) 18 Feb 212020 Q4 Earnings call transcript