CYH - Earnings call transcript Q1 2021 | Community Health Systems, Inc.

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Operator

Good day and thank you for standing by. Welcome to Community Health Systems' First Quarter 2021 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Mr. Ross Comeaux, Vice President of Investor Relations. you. Thank ahead. go Please

Ross Comeaux

Good XXXX welcome conference Mike. Systems' Community first quarter call. morning, you, to and Health Thank

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

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

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

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

from gains those Officer. like CVR the as related to allowance. change over valuation or legal We will expense to cases other extinguishment in costs, losses related the I'd Chief and Tim from early calculations gain the Hingtgen, call that legal settlements call. and government earnings or and turn said, Executive to from well will With All to on and during of expense covered by settlement expenses refer tax slides discuss this we loss exclude: impairment expense businesses, also of as sale debt,

Tim Hingtgen

of during conference Thank you, quarter and constant and in adapting period financial quarter Ross. the the COVID results morning, the we to mark managing We the XXXX and into this welcome anniversary experience, still first pandemic. as industry are was for everyone, to the what care a strong first year change. X-year circumstances health A achieved call. operational onset milestone of our Good we extraordinary through

the to if will I cases and which net the more environment. and move net especially rates and cases growth XX,XXX of volume in that easier by On in on continued increase In our quarter, optimism began many impact markets. progress with fourth in year. will driven which March impacted net surges for COVID certainly increased a of quarter. continue other to in vaccination care During the February We to we compares admissions to volumes revenues X,XXX subsided started revenue improve. revenue the Due minute, a of in March, the approximately an operating approximately sense restrictions normal quarter COVID momentum first last discuss acuity in same-store on of during part inpatient January, In admissions a of comp. line, finished to and that volumes This first higher decline, the and another X,XXX strategic growth to elective government good COVID X.X%. provided a by the XXXX. basis, operational COVID COVID many COVID-related initiatives, quarter first during procedures quarter first and XXXX, year-over-year third quarter the was COVID We admissions top and notably

south of impacted that of and COVID in were high admissions that hit February. case in as we negatively much as the the well surgeries by middle the severe snowstorms experienced This January quarter, counts

We patients elective return for pre have returning any the care believe to vaccine we to demand prior quarter, Throughout the run vaccine reluctant the some health needed recovery, other patients have their been the encouraging care also rates. scheduled who pandemic seek pandemic gap the to of of our services. for procedures During been to health rollout care. receive March, period, impacted volume month checkups, turn were we while strong the actively the to postpone pleased COVID deferred during closing with and screening, our very waited further for

For admissions down same-store metrics XX%. down surgeries the lag X.X%. were visits essentially X.X% Adjusted full visits admissions quarter, and other same-store year-over-year, down volume were to ER flat. with were continue ER

$XXX progress million, expense during Our track on Adjusted EBITDA year-over-year. more initiatives EBITDA quarter. XX% year. basis effective improved with to of margin first the Adjusted compared demonstrated points prior which management and remain increased XX.X% XXX the was

quarter comparison are on of XXXX affected be of XXXX. restrictions pandemic were Since looking release comparative recognized. quarter, because funds the of the helpful at from million margin the $XXX first results the the with $XX quarter an in a the adjusted EBITDA to EBITDA XX.X%. exclude If funds was we During then, relief when that of took procedures perspective million pandemic elective adjusted results, quarter's effect of found government first more can

as relief pandemic portfolio. to EBITDA and quarter demonstrates XX quarter funds, potential our first our so underlying progress X% believe compared $XXX adjusted fewer and million of first result rationalization clearly growth operating this portfolio the Excluding despite far a hospitals of our We of increased strength go-forward the XXXX, of XXXX program.

to the leverage of of term, In to below growth investments EBITDA adjusted and Xx. are flow teams of through in reducing our our transformation fuel portfolio excited and work we that a defined capital look the leadership the The based annual few years generation of progressing, demonstrate of determination course, the upon and we continue we front opportunities the ago positive free hard company strategies, the continue the the cash started plus that country. margin, the us XX% as quarter and about across is medium hospital results target We of all toward attractive future. with

later. did During the other will leverage, capital lower made Kevin we number we of our improvements and our which a last quarter, across structure, highlight

divestitures and we minute initiatives on focused on of especially completely strategic a core our and have the to as completed, front in like Now spend portfolio. been opportunities are I'd our us,

We long-term drive growth. in to position time and making these investments to have markets enhance been competitive over our

to advance company's opportunities outpatient based unique growth upon opportunities. objective development, each Our both inpatient market's care and characteristics for and is

side, the well. recently inpatient are performing opened quite in both and new two and Indiana hospitals, we've Arizona, On

open to new Wayne higher Another to with and than will additional added new XXX to year procedural past next in later portfolio, beds year. acuity. the XX core X over new this and hospital along early more the drive surgical demand and meet Fort campus nearly Tucson and novo increased years, suites we've one And de

our service several added also hospitals portfolio. have We new lines throughout at

completed comprehensive study several locations opportunities investment including well ambulatory primary key we freestanding ambulatory services, recently ERS and On identify our care as markets of more in to specialty side, urgent a the and care surgery outpatient and best as centers. access care,

this quarter, In the locations open terms of progress, two scheduled ER freestanding opened to first with we more during our year. XX

of more position. We inpatient our and the center additional ASCs overall manage continue well market improves our have to markets, together, this also summer. will opportunities very Adding added Knoxville this across pipeline portfolio access two a of this de all broadly far so market novo a to we year with robust our that in our add that we our and outpatient services, expands we align believe development

out drive We impact, high continue and we they about networks. investments build our high-growth think strategically deliberately returns advance to capital how can as and

Care call in are what We we investing also Connected Strategies.

regularly our center progress We transfer proprietary have been XXXX. sharing operations updates on since

enhancements within service to and expansion, line for areas see physician results to initiative, care the continue or facility leveraging region. impressive this a it recruitment We patients from provide for us will more visibility are we provides even into enable

also provide primary practices. services patient are centralized proprietary implementing centers, which care access We initially for scheduling our

extremely strong our put thanks that, team, to market Kevin. first providing nurses proud patients close the improvement areas, other are including their that of long corporate incredible time, our and We of by navigate progress greater earn the centralized results services many to can use patients us health now our are scheduling all by the they ensure to centers. made the generating continue to is success investments support turn enable their of so I'm initial call these single positioning care and services in the of XXX respect to the importantly, executives, outbound high-quality care scheduling provide We outreach and seeing more served day. the these most in who community. providers for local care and to patient nearly in admiration gaps our in the being and our clinicians and over let to system leadership good me goal volume physicians, believe care hubs receive to run. results, other provided we've with to Over safe, need. They intended the continue easily the every With by

Kevin Hammons

morning, everyone. Thank and you, good

XX.X%. Adjusted higher increase net payer increased of divestitures. to strong good improvements rates at back of EBITDA prior basis, benefited $X,XXX net revenue revenue XXXX. admissions acuity, our million admission. a X.X% We pandemic Similar As net half X.X% net funds. adjusted relief strategic a the quarter. consolidated a to and in relief to was the the Tim the financial on million On This funds, $XXX million, down adjusted better was due just admission million, increased capital XX% year progress XX.X% came EBITDA, X% made a and of prior decrease XXXX, across $XX of from over our start in revenues was additional per year quarter per mix. up same-store structure Net an adjusted the mentioned, the basis, first pandemic revenues of from the over and an X.X%. year. in Adjusted result included was improvement during performance, of improvement the This operating meaningful it excluding $XXX first an and continued delivered

in adjusted XX.X% XX.X% margin quarter XX.X% the versus first XXXX. year was the Our prior of in EBITDA and

improving margins. continue to adjusted toward make progress We EBITDA

operating month-to-month, has During new and of COVID our expenses. volumes impacted various ways COVID, our we increased cases from which experienced

was hospital Our continued this And well the teams again to leadership environment. business adjust that evident quarter. have extremely changing to

the to cash compares to quarter we seen labor Switching cash and COVID to This costs from executing decrease. of during quarter COVID. first of other $XX million costs, of for to by $XXX to With effectively expenses provided reduction our XXXX. flow. cost operations supply these XXXX. flows the programs, million were expense declining, While operations first additional flows related cases we have increased contract related expect certain Cash

in Looking The first related capital offset. and payments EBITDA were million repaid changes quarter company XXXX. due decreases, increases quarter-over-quarter payments quarter interest to during the million $XX and approximately divestitures, working at increase. approximately and were other the the $XX to of Cash lower including improved Medicare-accelerated

of to improve. operations the from cash we rest year, As at the flow expect our look we

the resetting quarter, historically to co-pays and lighter During the flow being payments. due and addition to deductibles first of certain a of in first quarter largely timing cash quarter, the the

cash by negatively and the from during weather-related operations in January also peak flow Our was impacted the February. COVID disruptions

net quarter the strongest expect revenue moving collections we the as our forward And quarter. result, such, March. was a to during As into our improve month cash second

to quarter. Turning for the CapEx

year, compared prior are a Our that fewer the $XX CapEx ago. keeping in was million in year mind to than $XXX million hospitals we operating

to number about a existing continue recent the into our We portfolio with we along strengthen markets. core our to in excited opportunities number that investments, invest of of And are future our a capital pipeline. are

are most we – regarding plan, markets. are strategies our to from the move stronger to any inbound and we benefits interest transactions, driving continue We which focused across demographics portfolio, to of within future we benefit and pleased are and our targeted have we will on as economic, population investment and assess continue our our we will we forward, focused believe to receive divestiture growth formal focused deals. completed improving continue But potential

funds, company outstanding the recognized no cash that company million terms increase liquidity, of ability end borrowings the of had approximately and XXXX, base the approximately of sheet. of of the the the billion quarter, Switching relief balance March which its with the In end $XXX and At ABL, on had of to during first borrowing unrecognized million XX, million At pandemic we quarter for to up $X.X at the of under first the capacity of relief Act we funds. billion. $XXX to the CARES XXXX. $X $XX pandemic had

we guidance. As included not pandemic XXXX relief reminder, in our year the a have full funds

$XXX structure. quarter, significant which approximately sheet million first the Moving total to improvements. approximately the We've the balance capital quarter. end $XX.X At compared made of to of we prior billion debt had and lower was the

down leverage to quarter $X.X ratio last the a annual over turns, we by number that cash lowered our billion the lien the $X.X capital over annual we $X.X XXXX $XXX and our by structure Xx On side, capital January, X Xx our reminder, and as we and first through cash transactions billion and maturities. debt of first quarter, reduced XXXX, to billion, removed million. by extended levered lowered market to over compared lowered to In of notes In interest approximately completed near-term interest first a XXXX. lien second XXXX notes year further

that end these our XX we million of of $XXX end we On called our XXXX. hand. presentation, paying unsecured on of transactions, with of notes, Following Slide first compared quarter the XXXX of remaining the supplemental at debt maturity profile XXXX to the the cash have included slide

and paid past debt extended the few lowered annual During down maturities, debt our interest. quarters, cash we've significantly

not now due June maturity of until next Our XXXX. is

to Net are guidance. not does unchanged year. the which billion the result, have $XX.X pandemic to Overall, first end a operating guidance. Now adjusted And I'd of to include is tightened low to EBITDA range $X.XX previous anticipated to quarter funds. we our as quickly $XX.X billion our EBITDA to And our EBITDA start be billion, good a relief $X.X by raising our like was billion, adjusted guidance. the on year from XXXX be anticipated revenues comment full

from As more with throughout in to our build back forward, cost we year, significant the expect margin XXXX. reduction to savings program we look continue expense our of half the strategic

over And expect beyond. into net call next expect years, along benefit term that, back the program mentioned, medium stakeholders. also turn We program, our drive this to which with to of I'll XXXX the achieve financial initiatives several incremental Ross, all goals this the that return to Tim savings our will and we revenue – you. to with Due the

Ross Comeaux

And to point, ready at Kevin. call this we're questions. the you, open Mike, for Thank

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

Operator

question first from Josh Research. Your Instructions] Nephron [Operator from Raskin comes

Josh Raskin

any is the competitive I telehealth. my and care the thinking you're taking about thanks. And I'm nature, this guess you Hi, Good hub-and-spoke changes the new operators. morning. proliferation if questions. urgent even for seeing some hospital Appreciate operations question around models, rural of sort in of

So how to your care even suburban on being get hospitals curious sort or are rural I'd perspectives and as located to be of impacted? your

Tim Hingtgen

ahead go here. off, obviously, Josh. Sure, it in else kick chime This anyone is I'll Tim. and welcome to and

again, other In entering don't terms changes much of influence competitive from to those see a the markets. from standpoint, operators operations,

well the investment. this our we to through were investments ambulatory the think care positioned I as of as even it's partly own predating settings because historically, for some well migration pandemic telehealth our

of So general, the as in what’s which our it portfolio, you or ago. in much I remaining years is even years X nonurban X think, know, was than consumer is smaller

that across crowd and have to others, broader and strategies our access. I are the competitive not because not again not that positioned growth Again, seeing we being We networks tremendous major well a out a ambulatory space. In investments are make of entrants as threat. to good seeing suburban markets, in positioned creating expansion are amount those but really have make sure think the to we better largely ourselves

Josh Raskin

Perfect. Thanks.

Tim Hingtgen

Thank you.

Operator

question next Morgan RBC Frank from from Your Markets. comes Capital

Frank Morgan

well. call sequencing mentioned Appreciate one of some kick any out but the in I And know your able called But to very Good and there And the of COVID be think color the you that in more provide quarter? I give and Anything in little timing out could just particular should you us terms the cost-saving factors is in the you just initiatives hoping the I that sort of across cadence of we around kind as at later. a year second of morning. recovery. end, about some the was guidance, over the the you maybe the assumptions of in will balance color granularity the year? of might

elements, had level? margins So, if the and different to sort help prioritize you XX% most Thanks. would driving to those those target impactful of between to which getting higher be that

Kevin Hammons

question. will I and Frank, this Thanks, take

still there the and think and of are uncertainties, of EBITDA we as each throughout to the they are year, Certainly, down year, had So, still subsiding and continue level COVID that with vaccines moderating their believe will of the adjusted in recovery, COVID sequentially some peak. quarter. improve it’s we grow cases early we than the but hit the the the and about delivery seeing coming at a much we and effectiveness cases lower some cadence

elective around So that with to have continue procedures acuity that start well. some we deferred of higher that, the we to a those to expect there, out the recover particularly back. come lot procedures been And not believe will have back yet come as deferred of

to and I we grow the of initiatives. mentioned, that, And will improvement we the have in that some of to we as each those more at grow So XXXX the as are in then kind that I think allow as on, look which margin us of sequentially continue of those program But initiatives with beyond, that XXXX are half I successful continue, throughout initiatives will been throughout will some the with effect savings for course, year, back revenue very mentioned, year. working the deliver we quarter. of believe

Operator

comes next Jefferies. from Your Brian question Tanquilut from

Jack Slevin

or Brian. to Jack margins morning. on is there. to little EBITDA below XX% turn ex-CARES for XX% Hi, obviously, plus in on margins, the And good have you put long-term Thanks. me, target for a This that out Slevin all Act, bit quarter. ex-COVID Wanted excuse –

are this procedures if the the steps online and back any walk see throughout year Just acuity us how with wanted of there, particularly headwinds? some the lower you get and kind coming thinking navigating payer you year probably could you color to through mix possibly about

Tim Hingtgen

try our us solve we balanced start will most approach a as off. problems. And to I Tim. always, is how have of This we Jack. to Great, as

and cover expense to Kevin revenue the that’s line of So, ask top and work more I underway will management. cover net the

with So and a good long-term expansion earlier, level growth pulling in all growth we that’s portfolio. again, favorable some the of potential, margin of believe hospitals, prospects. the the at more we answer population in where markets maybe this balance, this good together company. strength Sunbelt have we know job more we greater which in starting for question, of larger with hospitals see stronger made comments definitely states, prospects the higher concisely But Larger and to a percentage these the

that’s number one. again, So

volumes us the particularly some on in environment providers underway. and really, investments did points, with restored. I reduce before hit our out I really really first the this higher that for company the we services transfer or routine of up the competition pandemic to transformation right out I recruiting We quarter think the XXXX. XXXX numbers portfolio, the in of believe some to Also, of into terms good subside headed margin some and cases good March XXXX strength point is steal until job really necessary margin of in our well looking some forward as leveraging COVID to a is operating want expansion strong in a provide demonstrating migration from opportunity acuity out even driving more access exited building focus of centers, better and COVID. also with

that more get by drive organization. have to we really I on and orthopedic elective and across of the level, even further We strong So levels. post COVID the the said, business margin expansion. showing higher I really mentioned, predating we see pre-COVID with procedures acuity restored the normalization believe signs will macro believe were revenue pandemic, the And just margin Kevin as volumes of of as their strengthening

providers really that I line can center capital, our on great within new region. retain through and inpatient of to add growth can top more of to patients model from also within growth hospitals revenue new where new terms as visibility more targeted patients objective really to but attract nonurban a some our transfer smaller networks is we services, care, think items, In enough. We both don’t we see emphasize our outpatient, and other

the suites first time Dr. incredible have quarter, leaders So, away. to granularity critical into see, acuity spent I really our care to we is to illnesses our that what we we sight. leverage earlier, that and getting of today. regional for here the is of gained data with to getting don’t demonstrated the leverage acuity, in are coverage. want investments out really see throughout serve. where go obviously, I believe we capacity an foothold we we at a we excess fill us We units. better within frankly, our with amount me throughout regions as that Also really with the fixed to and primarily in the it and there clear procedural We Simon called of respiratory CEOs hospital higher flip line up, opportunities strengthen in new higher our as and just treating And business experience COVID add beds

margins coming We not we networks. just fixed lot have of our are adding our into when volumes a expanding incremental by cost variable

of think pointed we And adding So, sites novo we key that on drive care, of as company. driver of the margin will then drive points revenues all be will forward. going new us access out, care for and margins incremental for acute these a de

cover a for margin So items. will things has I going bullish Kevin not and lot on that for prospects some expense revenue us really growth a of on company. again, the the let just expansion our of

Kevin Hammons

targeting some a as But the we good to primarily had And the additional about facing pressures are shared contract color and that how a that that and multiyear supply in we cost margins. forward, negotiating that come hospital items on and some getting of our labor certainly, initiatives we on efficiency higher into opportunities Also costs, drive that if I individual initiatives. COVID savings we these expense out office we side cost expense more our Sure. start also subside are these to of deeper we the and little salaries expect of on traction there COVID, corporate and and as maybe move initiatives XX% And to just and will really how because we we COVID as more believe and is service, continue to as with cases XXXX. to improvement costs at of really believe down. back opportunity we expenses forward those we some have continue got got dig supply look are program, number with Certainly, margin were we moving more portfolio even gives non-patient a national plus come with our thinking give wages, move expect a some lower. now advantage hospitals again, on vendors, refined of and types which some to contracts taking well of of with contract on our purchase negotiating and us as our able position to of be leverage spending basis, scale many supply as labor, we, our pressures services

would thing completed more adding is, the point improvement active but initiatives, list, continuous So or at for removed additional we I of because as that as the a to process this out numerous we initiatives we list. get look initiatives have other are

a this be expect again process. multiyear we So, to

Operator

Ralph from Citi. from comes question next Giacobbe Your

Ralph Giacobbe

Thanks. same-facility sort XXXX X% was that as first ‘XX grew certainly off and had quarter fewer using the benefit, guess it? base first, was hoping and EBITDA morning. despite Thanks. I to interested the And hoping growth in fully to sequestration XQ there. maybe the XX upside given Hi. guidance kind maybe hospitals, over to same-facility just reconcile the bump get impressive. base the if your those comments of that also hospital updates, so that of reflect of seem revenue the you Good EBITDA in quarter then I I doesn’t

Kevin Hammons

Sure.

million. tightening with guidance our think about little wider the the we of $XXX a we year of as started at range, So EBITDA for range the

for expect sequestration $XX to remaining As low range. really the on X just approximately in so of quarter early of combination the the year, months first year. our as It’s to still a raise tightening we moratorium add as is the end the the the million beat well of the a

So more that low within up confident much to more end end just and the where can certainly range. confident raise enough but of we confident that – feel guidance we and to

to will thinking, our adjust of the bit and continue watch little a that’s throughout guidance and year. we accordingly So

In have revenue have EBITDA terms to net quarter same-store don’t over lift that. same-store first was the I the net exact I revenue of an quarter X.X% back was a of significant XXXX, first about on over comparing growth it a It basis EBITDA on our but lift, ‘XX. well. as basis,

Operator

will last Kevin question Bank be Fischbeck America. from from Our of

Kevin Fischbeck

end there normal in some kind to of some and or see the demand to have think some back point during you for of you referred number. could the if if call thinking in secondly, was of the had above that could Wanted about to mentioned because of a view at that related a context pent-up then of times thinking are temporary that onetime the year? Thanks. I supply that actually co. the kind come the that I costs from be you you you And into pent-up system. us – was back give ballpark it Are you getting labor of normal we to demand, sort Great. wondering couple volumes of But see

Kevin Hammons

cost it’s wage the pressures. instance, there hard of costs, some exact With was Sure. some wages, with and salaries pressure, an to only because for not define

cost business Some of on contract get know beyond our as – interruption that relieve a And that you of actual also higher. of But or of out impact of time, and labor, we that COVID, are gets the to then will little we because staff And own of are COVID, pressures. of the you sick we had of it the have the was leave labor that your that harder on deferral needing some to will also just help which out you assess rates for be backfill. that those replace contract much fewer impact moved or also own the to the of had on those. all staff procedures and some will

of of and business, same beyond some fixed the without level move this will recapture revenue of lot expense to leverage we recapture. we a COVID lot recover start As a able these be necessarily and better the to of costs

Tim Hingtgen

Tim. Yes. Kevin, for is question. this Thanks the

starting deferred peers, strong of of volumes comparisons, day, on We for some care March. give the a our that on of in make shift I so we you building think, what a know, an get a about most that winter the we lines we feeling and Admissions sense prospects system strong total back. quarter it’s back more every quarter continuing in business back And care, in elective and the We deferred now encouraging, heard, first really we see weather business with focused we can’t basis the as for the in In deploying in just saw patients this as most really of care us and terms the been volume are event, now or choppy track at thought be business, more from COVID be we can like from benefited to call into the here. you the And things COVID, from Medicare that business we do as the of because pointed which same-store an book listed of or But and taught are have coming of inpatient and COVID to and determined wave our have and March, was addition we as really little earlier point, procedure patients into they somewhat way the get event analyze winter April. very confident put see process with of one XXXX on for, some you out, bounce care, again quickly our a of even vaccinations effectively come off, spine The strong second to resilient of likely into able to only recoveries really that have patients. XXXX March. higher and covered. much acuity and portfolio to them then joints all the that that quarter, that on the care and how February to thing our extra momentum do more need. in the because,

outpatient. migrated Now to is it

important very inpatient clear on and some some come. obviously we But adding and a adjustments high believe leveraging We are acuity prospects are sure across the this, services, of got new of the service have center. outpatient growth assets quarters strong orthopedic sight that line new So, lines. we do our really tracking make both to doctors, in there transfer to we

Operator

will Mr. call closing back I comments. Hingtgen turn to for the over now

Tim Hingtgen

providing today. and organization, are Mike you all like for presidents to and to would providers, with across continue grateful the hospital us just how Thanks teams Great. regional we our employees our physicians, I by on leadership spending who leadership time all thanks get In important to mention true closing, purpose care of for focus for again our continued safe, for to demonstrate execution. live successful healthier their our their helping I to company’s want role our thank and high-quality and of communities. team supporting people market also well in their

great a strong we and again, start with updating have pleased at year, if questions, look have reach to progress are you you our We and our Once any XXX-XXX-XXXX. again, the you Thanks on can throughout day. forward us to XXXX. always

Operator

participating. This you for concludes conference today’s call. Thank

You now disconnect. may

Community Health Systems (CYH) 30 Apr 212021 Q1 Earnings call transcript