CYH - Earnings call transcript Q2 2021 | Community Health Systems, Inc.

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Operator

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

Ross Comeaux

Jay. you, Thank welcome Conference and Health Second Systems Good to XXXX Call. Quarter morning, Community

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

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

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

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

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

Tim Hingtgen

Good quarter conference you, and second welcome our XXXX everyone, to Thank Ross. morning, call.

margin volume results, growth recovering, pleased are see as to continue and with improvement. net We especially we revenue our second quarter

During initiatives we strengthen further advanced XXXX, strategic the first growth-oriented to continue company. that half of the

this details, see providers, and people counts would continue to able were And leadership the the we high-quality spend our COVID second teams, have we firsthand. to visiting like has the leaders been and executive so and to quarter, time great all caregivers because through more in are safe, provide serve. of vaccinated we over With fortunate of in thank several our Before care to declined weeks. walk our communities case past markets many the our to employee who and nurses

opportunity operational across to have and fight tour services patient pandemic. of projects capital online, we've to care the to sense our as tremendous while We COVID essential the reflect worked especially together positive organization, of on heartwarming pride come a the have we There witness provided our of course, that outcomes. had hear communities and value is improvements stories and, to

meeting the We to our are of for some surges, effectively to meet while cases currently and the increasing safely seeing operating in services ability demand remain and manage dual-track care also we patients. an model our needs the COVID uptick markets, in of and teams confident COVID non-COVID but health our of

who and used systems. we the and which to second solid total have quarter, X,XXX, care attract X,XXX And experienced peak we inpatient provided counts second In COVID were second back quarter, than cases the non-COVID our for first inpatient X% by previously driven approximately admissions. patients efforts COVID our patients declined retain experienced quarter, case first the Now admissions. the Positive of numbers In to represented were volumes rebound following quarter, during COVID-XX COVID in our January. reengage lower to the about switching a our in the as care quarter. approximately health admissions we new

procedures the a same-store comp, government net year-over-year was on quarter, by of For driven elective last increased basis, the impacted on the restrictions XX.X% result easier net which that revenue the revenue second year.

the admissions XX.X%. up admissions ER full up increased XX.X%, were XX.X%. and quarter, XX%, increased were visits Surgeries For while year-over-year, adjusted same-store

of approximately XX our second from down at respectively. meaningfully volumes, second came fewer to patient of increased of the XX.X% all that continuing drive In with compared million to the delivered of quarter, were the that in adjusted EBITDA during visits Compared X%, The expanded volume adjusted X%. now surgeries with company-operated even second On EBITDA our million, increase $XXX have basis margins period worth EBITDA good million this momentum. growth rates, years our consolidated looking $XXX basis, same-store it's levels. ER development improved to XX.X%. strengthened and frame. metrics terms quarter $XXX And began is with adjusted And X%. improvements we points continued margin prepandemic compared over consolidated we quarter hospitals are adjusted ago Admissions sequentially compared admissions rates higher, expected though portfolio we to Compared very quarter to but XXX pleased to period. XXXX, benchmark time slightly growth increasing an the few and XXXX, the quarter. results noting X% and EBITDA a the that run other transformation by across prepandemic approximately the down a volume same to were at throughout we've XXXX, to and in lag opportunities

and strategic and quality, in have incremental program area patient country, Those into population of variety ways, primarily forward. areas stronger being expansion. for value highlight investments generating improvement and our services, imperatives us competitive we positions going initiatives focus. outpatient there center, operational development where safety of We across and The the a our initiatives, as have in such the ACOs company adding and revenue the organization notable ongoing our of higher position. Net the some is and each the of made across these economic are care south excellence, And portfolio connected transfer wide the margin growth current access markets, positioning To southwest of hospitals same-store improvements growth. growth strengthened enterprise. acuity point introduced is strategic across and company's southeast,

part Over recent opening we in hospitals growth of our Baldwin the Downtown ED opening continued quarter plan outpatient this Wayne the past Arizona including long-term year Naples, we the in the XXXX. bed Alabama, and Fort Gulf freestanding including drive investments, that is Huntsville Shores, with to deploy quarter inpatient line County capital XXth in and and to Arizona X markets core in have have Indiana; we is in fast-growing new Birmingham, first of in and another which few scheduled fourth completion, novo years, and open Knoxville; markets, hospital to one open of in market; of the our the nearing more in recent service hospitals X de of to and Tucson, that expansions

We are expand excited also and and joint will announced health partnerships about services. ventures recently that post-acute access behavioral to

our During opened East rehabilitation with hospital Kindred. partnership in in the we market Tennova quarter, Knoxville

as next opening venture of includes announced surgery in just a market novo acute Medical continue to in with part And also hospital. Tennova Select partnerships a health facility joint joint Fort We Wayne a break which few in And a invest in will in behavioral center de Tennessee with we care JV venture our on acquiring a week ambulatory Healthcare. ground we novo with weeks. in long-term the markets, XX-bed project key East Acadia center de Tucson,

of we markets structure. our our in We will over this progress core demonstrated pleased our add expense Kevin? revenue it provides which stakeholders. the for certainly have several as the We're next to opportunities and inpatient company's on medium further start capital of annual strengthen terms all we year, opportunities growth, invest the and continue flow will as pipeline years. that of execute below will in growth, outpatient adjusted target value term. free EBITDA expansion and the long reducing of the margin, management, and our In for leverage we EBITDA as term, we quarters, believe Xx, XX%-plus considerable Since next the we margin our generation to the progress several over all the of cash well net positive momentum continue strategies EBITDA the which with capitalize see

Kevin Hammons

good morning, everyone. and Tim, you, Thank

highlighted, strong Tim company, the we and performance for made financial was solid during quarter progress delivered which As it fronts. another multiple across

strong good management, During recovery, further we expense additional a delivered and volume across free cash flow, the capital our strategic progress second quarter, positive structure improvement initiatives.

our also reflect our half year guidance the start year. for company's We and outlook year back the of strong full to the to the adjusted

adjusted due came Looking net performance, revenue consolidated largely at the from same-store quarter prior the a net of X.X% at On result a impact prior in up and XX.X% COVID-XX. which admission, was billion increase This in in revenue net second net year. prior operating the was year basis, adjusted year increase comp a difficult per admissions a the revenues from basis. the a of faced to XX.X% on $X.XXX

revenue, nonpatient revenue prior year-over-year, to up patient which lower Excluding adjusted admission the year. per net was X.X% compared was

Comparing period we sequential this we on Adjusted to baseline recovery growth a despite million. a represents prepandemic of volume sequential patient quarter, EBITDA EBITDA drove second hospitals. delivered XXXX, $XXX adjusted XX XX.X% in the strong having improved non-COVID-related the second of During And in quarter fewer was the demand. basis. and performance a year-over-year

quarter of a represents this Funds, the Excluding sequential Provider year. over this also Relief improvement first X.X%

million of funds. second pandemic the we During $X relief recorded approximately quarter,

If which and in prior incremental substantially lost quarter net relief XXXX, have pandemic you we our represented The COVID-XX EBITDA. a expense to recall, offset to the all related funds, pandemic the of recognized of $XXX adjusted helped second pandemic. revenue portion of relief million of year funds

of the and X operating number volumes past waves impacted we've expenses. a experienced which COVID, our quarters, have During of

provided extremely remained worth as costs non-COVID-related to as quarters. dual-track $XXX adjust additional flows XXXX. billion cash from cash Switching half we COVID-XX of improvement health compares flows It's has the first the to of XXXX. this on savings reduce the hospital of noting leadership the by margin helped past to half months operations in our and X well continue year we both for expect of that has operations utilize months will during care first strategic continue operating patients. strategy The the program the evolving teams care year This for several And drive also well this back few to over And years. to the program of demand plan. we expect were Cash our in next Our environment. X plan to as the $X.X million to operating back flow.

flows the Medicare by million and were X Excluding million payments, in for to accelerated compared period. months of the operations received first $XXX provided XXXX cash prior repaid $XXX the

relief pandemic Medicare revenue fund grants. decrease, net declined, change first working capital changes during accounts net strong working net half resulted primarily receivable payments, the XXXX advance a year. accounts to which a of Looking included year-over-year slight drag excluding this net the to half as was last the to in first receivable at was has the net therefore, of capital, the the Declining and, benefit capital start working the in in also growth increase due a year while year revenue to

Moving to CapEx.

The first period. prior months $XXX X $XXX our the million was CapEx compared XXXX, of to million in

XX% of the up was again, year XXXX, ago. a CapEx than operating Our fewer despite half XX first hospitals in

several markets economic Going positioned demographic portfolio and current to continued from forward, the years, well next we is our over growth. believe benefit of

to recent further strong pipeline we opportunities development plan to continue strengthen investing in In markets portfolio. our a capital in of addition our investments, existing to

the at billion quarter, sheet, of company liquidity, compared balance unchanged quarter. of first had of to terms the was sequentially In on $X.XX essentially the which cash the end the second

Medicare second part received previously of planned $XXX of payments April. the recoupment quarter, as accelerated returned During CMS were that to started CMS' in million

accelerated as the Also for repaid. balance we ability As to to XX, be million company the it to have the billion. as of Medicare are with of to of recorded up liability borrowings the $X approximately $XXX June liquidity, relates a ABL and capacity These payments under continue million to on base increase remaining XXXX, $XXX that has outstanding no sheet. borrowing

quarter continued We've debt our profile included Slide structure. of our XXXX presentation, make to XXXX. Turning we've XX progress. of end now On supplemental compared the slide to the end capital meaningful to second the of the of at maturity

in few by basis over interest Most cash we billion past significantly cash not transaction annual debt notes our this by we've to over billion, second-lien debt to $X.X annual million. we XXXX, recently, from half maturities, This year interest by approximately leverage X debt $X.X XXX Xx quarter, $XXX point XXXX the due XXXX lowering lowered maturity until further and next down our second rate interest, and is to reduced the last our debt now while lowered Through extended annual During XXXX. turns quarters, interest. extended and and cash the compared ratio paid Xx of lowered first lowered our XXXX, at over down points.

like our Now $XX.X walk updates billion I as Net to we full few now our revenues are through year operating guidance. to to narrowed billion would be to a EBITDA $XX.X XXXX end anticipated anticipated $X.X to billion as but is full $X.X of the the we range, to midpoint. low guidance the year billion for second quarter. consecutive Adjusted maintained raised be

income anticipated an future. $X.XX As a anticipated $XXX And in quarter million. $X.XX to previously based EBITDA be recorded funds is is our funds guidance to expectations. to $XXX any another relief million which of reminder, per weighted in million, average is performance the that XXX from delivered adjusted share came any flow to outstanding second be million recognized original or relief million $XXX as our Overall, of increase does XXX include XXXX pandemic on strong may net quarter operations above pandemic diluted be guidance. not to our from we our Cash shares internal

years expect I'll to the the think you. balance seasonality the now in quarter, the back good similar of to prior performance in by to the softening return followed our we year year, have a finish EBITDA call Ross, some fourth we third seasonal As the quarter. to about with

Ross Comeaux

Instructions] this always, as call ready open Thank you, [Operator you you, us questions. point, for Kevin, we're at and Tim. can the XXX-XXXX. But thank up anytime reach Jay, At (XXX) to

Operator

question Tanquilut of first of from [Operator Jefferies. Our the Instructions] comes line Brian

Brian Tanquilut

on for question primarily. Congrats the for both, for guess quarter. I my you, Kevin I guess,

ability seeing guidance, thinking the appreciate you QX number confident the you growth medium-term half I guidance your we a on you're cost and about about you as feel is How seasonality, think beat in well, that the sounds and in back comment pretty if that like can it quarter, the recovery, drive but look guess the well. I are to that? up thinking of some your XX% I you your factors As in you put number touch about. should just conservatism? and the I as on mean well at both just be as I guidance maybe margin

Kevin Hammons

Sure, very Brian, and you thank much.

touch couple of on a me things So let there.

our insight. kind a the as kind about the expecting that expected think recovery have year. throughout of beginning from we guess, a I we, as first, So of in extended COVID of we today, year, the little we did and guidance, more And sit here

bit and active some a in Of are more course, back have little be we a little seasonality to occurred little third into than that normal again, quarter. recovery we a things, people forth. the the quarter getting starting returning And anticipated. And see as again, insight school second up more quicker we so

beyond. half in opportunities of improvement think we mentioned, into still of of revenue that that, of that net the I improvement as look In in believe exited working and the kind and cost similar our will cost in back And and next we're margin on cost somewhat to as where there's net And then we of the with is on year terms year terms savings admission half as plan. quarter. back to adjusted the of we improvements kind second improvements revenue, program, margin opportunities further well deliver the and initiatives per of some kind our year

with case guidance at guidance a all then COVID the may where unknown So at in big scenarios number around we're equal, included comfortable looking what certainly And as we're things counts. in happen pretty are of that we're that range. and that, with

Tim Hingtgen

add is real Brian, just Yes, quick. Tim. on this I'll

investments it third I talked quarter. but some of into I'll think doctors we've more Kevin on kind nicely. summed XX% of very to going add back into up our the in back about portfolio seasonality have about coming we business the employee the historically, that

primary development some ramp line be certainly that and those of up, So that's all the as portfolio the long-term and entire strategy. service there'll development along our growth for care but strategies investment practices our we into

into the business. good as again, of So factored it's prospects long-term we that's the well, believe a for thing but our guidance

Operator

RBC next of of Frank Our Morgan the question line Capital comes from Markets.

Frank Morgan

I'll on guess subject. I stay same that

guess how before give across color go really side, exited us appreciate on quarter or guess levels I'm or cost clarification, I utilization more is be its utilization, the going I you those side. quarter XXXX volume to around to a could you what the levels relative that here your the surgeries, seasonality service to back I side for kind those versus -- of of of that cost you -- the ER, I So the the than you the But And prepandemic just when the color it's is the admissions say the prepandemic reason for things? the segments entirety. any correct? some whether Is driven hearing by probably guess, across in

Kevin Hammons

Sure.

off, as throughout and I may that here, kick thanks, quarter. with the cases counts. And second here say well. question. case we increased that starting down non-COVID quarter, me came off second in and the for those Tim And quarter, then the started the throughout weigh a off COVID the higher little I would Let Frank, guess

above as that we we exited XXXX were exiting the fairly quarter, the or even little So base probably a bit quarter. period

Tim Hingtgen

that. agree, I Kevin. Thanks for

we pandemic of course see able COVID the subsided, the were elective back waves when progression, inpatient bring heading and into second previous volume that the we of in back. into terms to throughout continue May did months we quarter, bounce strong trend the care July. certainly throughout In frankly, cases of really a the with June saw the non-COVID or and the And of

elective our terms through access when manage optimistic referenced, priority arbitrator governments our if become of we've maintain pretty both ability take surges care. we care hope proficient wouldn't our to at We'll to the patients the point we resources be at working need can dual-track would there strategy be us. kind to that and more our to so. we managing sure care do our that COVID that in obviously non-COVID our restrict for ability of of demonstrate that our to we're feel we COVID, is make the to we need where to So put of But non-COVID communities

Kevin Hammons

your on of see of a typically we back quarter then maybe end third year. a to bit of the question normal the the the the I and fourth seasonality terms terms quarter, the believe a lower third the we in last part we'll is expecting management and we're of quarter. see seasonality, return of still the And strong of third circle expense have good, kind seasonal what volume what to think maybe softening finally But then the And that's in quarter the little picking in up in through in to more remainder year. or throughout

Operator

from Our Josh line Nephron next question comes Raskin Research. the of of

Josh Raskin

those million Or repaid? forward on quarter or $XXX I until the Is repayments. guess it's $XXX Medicare going clarification I remaining. heard quarterly? that quick million a so the Just number what's

Kevin Hammons

Yes, that's right. about

to XXXX. paid year we remainder with back this in think I million estimating million were $XXX $XXX the

Operator

Rice next of from Our the comes Suisse. question of A.J. line Crédit

A.J. Rice

been? permanent so sort labor terms just use consistent over And how that employees, minute of to seeing in do Might about contract where hearing step have you an to of Or about just about your We're you up? read? a that of across for the with turnover the dynamics. rates, Is are thinking provider that lot you take year early labor? or What world. about is it's ask next going a the wage increases

Kevin Hammons

Sure. is This Thanks, A.J. Kevin.

one this off. Let me start

higher are also down contract it's seeing bit some kind quarter to previous significantly employed the labor to That rate We're vary This in first from a with both maybe and little we does market improvement and seeing the years. utilization above costs the in time, market, experienced our by our are pretty quarter came same retention. respect easing on inflation But labor. little the been a sequentially. we've We some bit of of second seeing labor. what at of

improvement retention saw as in sequentially we So well.

impact we'll I year. believe net-net, back through of manage margin without to think through the able So we current the kind any environment be through of on this material the half

Tim Hingtgen

to this what Tim. A.J., on I'll Kevin just mentioned. is add

our from that the throughout In terms of quarter, initiatives with contract future specific labor, reduction plan in the We of here some and with quarter into and as labor said, first forward COVID CHS. continue, to of going tied that some the expenses improved case of staff. our core management of very improved to at obviously, decrease retention Kevin counts, sequentially hiring

entails orientation we hospitals. preceptorship standpoint, really local with of the recruitment, leveraging all, piloted qualified of of now organization. what and to And in some we've this markets very having centralized over First and XXXX. We're to process some back in had teams that of the By have our end, end by hiring support a that then about marketing programs. handing our success similar digital our the and physician is the a the and complete RN year, we across nurses nursing half working and that on up the we'll for few and from XX% of do centralized on what recruitment of hospitals specific about recruiting XXXX end month, a scaling them the candidates the function of HR sourcing corporate

earnings The in nursing, are but that new with quarter nursing that programs other our have side fully students. nursing to supply College. now functioning and our have the relationship we're we've particular fully initiated market this support call, I we and first staffed thing enrollment doing in full a a of We X mentioned of in Jersey believe

by launching end be will own by our of supported of our by program. half programs the quarter about nursing of end more of the And XXXX, the first affiliated We XXXX. have X hospitals

care our care or in care ingrained but their the are you, this just test, what our supply side, delivery nursing on them their as we into early an care nurses. functions full patient will that with supportive benefit when again, they're nursing health pass other going believe, of The in program, which come have our on through the time candidates, students so technicians entry and these experience is system program, are assistants, getting into certified not hospitals completed as they gives systems health these they're as already

Operator

from Ralph question Giacobbe of line Citi. the Next of comes

Ralph Giacobbe

Just non-COVID I core slowdown you COVID just with of volume COVID a it's guess specifically magnitude you quarter wondering are clarify, I recently in Or volume in COVID? in Delta in you're corresponding of your And of to lift of the in of up that cases seeing variant, seasonality us of markets seeing late, the sense of give sort can any with sort your terms of to third is then seeing in what surgery. expectation? hoping was or whether and some whether you're related already that

Tim Hingtgen

start hand and around I'll color it off our Dr. Ralph, COVID then this current over Simon some more experience. to for

seen material on impact previous elective that we've obviously the And that closely. And guess, have COVID, our, the back it a surges to waves of monitoring been I experience not managing with very of current impact. business, we terms In dual-track strategy. goes

really is made still believe this, and manage how distinctly caregivers, and care. grateful in physicians terms and but safely for the really our elective they've care And equipped from safe. to staff commitment patients very their our our again, communities of COVID to Our well

have we elective not So drops seen wide in care.

turn Dr. over I'll pandemic, to it of Simon. in terms the So actual

Lynn Simon

Tim. Thanks,

in July. seeing running lower current increase but surge than is seeing were at a rate seeing an that still the So cases, we're last we we're

not levels. So to up those quite

more how I have now think treated. these confidence in people managing the patients and protocols much are

running. need as the make teams reach our they We see increase. to cases we continually then continue that corporate to have they that have sure we center our and And COVID out support these command

Operator

from Next the from comes Valiquette question line Barclays. Steven of

Steven Valiquette

Great.

stimulus all a acuity been about takes So it's for topics on in relation a but you given the would from preliminary upcoming ignore you and of any growth received in next your of curious to have year, trends year, lot the EBITDA puts next of little early if initiatives. base, $XX there to on grow from the pivot remainder we I'm just this that 'XX, given mix talk 'XX. guess whether that year government margin already I view is to year to million just touched the key And this your do relief the 'XX expect

thoughts directional around any this early curious, at that Just stage?

Kevin Hammons

and early, some our yet. a net margin couple given of on Page Sure. said to and we investments reduce in to that with It's and we've we're haven't making areas think medium divestiture our kind XXXX. increase that attention that a We're think to think net the our of probably kind our any about But I about towards both things out our if the now above at number you point. XXX% XX% But we're say look I grow XXXX program, years. to revenue revenues. it's of our turned would get being term below you over guidance next and XX X deck, done that idea little give a of relative -- you direction use One, is our if our I and a medium-term of of growth. X to grow goals of goal outpatient inpatient there, hopefully, that out, enhancements slide put we've we've and trajectory really line can And number leverage on Xx to to to the of service

Operator

the Bank America. Next of of question Fischbeck comes of from Kevin line

Kevin Fischbeck

year. volume of expectation back the the half about Great. the asked I wanted in to

might be that guess that rate would like normalize, it we government heard you I be expect volume as think similar half expected acuity depressed. volume said right, seems the to volume you year. the if more been largely it that I I you and to continues has to of the first lower

would back. comes that that the be So volume

lower are touch volume, that acuity So ability just how volume bringing low a secondly, the on And with you're grow margins agree want which government source? you volume -- comment, historically I dynamic. that about, thinking margin I guess, is you maintain if I guess, first, in to, then of if the kind to lower

Kevin Hammons

I'll And to start off. be that happy Sure.

I to lot And you there. seeing prior cases. a X-year been have the XX% over XXXX, But lift probably up at can into a of to about period. certainly that, you right, coming in of the look that per our per going comfortable lift -- rate bit lower in isn't there's a noise little kind we're yet. COVID that back as acuity of declines if admission back And compared think that some periods service if there's So there's out about maybe and we and we acuity lot you're unpack net that adjusted revenue adjusted maintain are pretty revenue normal of Certainly, level admission net we're think half. off the

some of there's still might be offset couple think making grow. making will been, what some and higher and to other over adding past we However, we've investments that, service that lines services downward in the improvements pressure years, higher And we as continue acuity some acuity services. of

Tim Hingtgen

Kevin, is Tim. on to this Yes, I'll add Kevin just what said.

settings, have we in our our build our approach access to terms growing being In And that balanced want expand ambulatory the how we approach really out care for very the markets. a strategies. revenue, of net investments to prospects had point business, balanced

to continue Our as expand. mentioned, freestanding EDs, we

be up yet have will We opening year. another this that one

some have of it and ones service acuity, on that lines And some visits line. our service may lower an higher acuity has orthopedic additional while our in expansion of cardiac place. We the pipeline those of be is

opportunity further we growing bolster us markets to side core of the beds, adding more still help the some business, inpatient service that lines, tremendous inpatient market inpatient business. of expand and augment really the of to meant all we're more where of it's share. In So taking that see

well, ambulatory serving So being still that drive services. the quite is care well sure us able acuity inpatient balanced we're to making where is side see higher on migrating the but approach positioned to we again,

Operator

question line of last Josh Nephron And comes from the of Research. Raskin

Josh Raskin

the but Yes. Delta, I changes impact follow-up. patient seeing, had appreciate was that talked just of and question per we cost on curious and I and about real just COVID I'm sort I of know sort on you're operations. treatment the the The

of length there issues on to patient. relative Are cost I'm rest stay, have treatment So the I'd you per the in the don't but other cost of in are be to on you differences in impacts inpatient seeing and facility, difference treat? assuming variant the PPE Delta of others? the curious patients differences

Tim Hingtgen

is the I'll weigh in the on have and We're Sure, side. with PPE. of in side, pressures operations the your of cost operational it side more on correct. But Josh. the same having This kick terms Kevin not is Tim. off theory

out, labor. pointed we we drop quarter, a in As contract in the saw second

We bringing labor. contract more are in

manage spend into our and see and increase that our dual-track maintain full-time part-time business we the non-COVID resources more to you surge some hospitals. nursing caregivers, elective So may with in of coming the that caregivers, as support

previous In terms terms saw relatively the we what of any are to in stable other expenses waves. drugs lab, those of in or

Kevin Hammons

Yes.

significant cost a would previous we're compared say I it's but any to experiencing of is So little early, for not waves. wave difference now, what COVID in the current right the treatment patients of

Lynn Simon

probably a less Yes, younger and little is I'll like patient this talking and everyone is Lynn. about, ventilated patients. just With this add. seeing wave,

now that obviously we've that's at least but seeing what So change, that's to is a been subject recently. trend

Operator

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

Tim Hingtgen

and you and leadership caregivers, want again day. thank company's of team you, closing, spending and our all our our thanks Jay, and the entire once time their to also continued true I teams, presidents and markets. demonstrate today. hospital who consistently purpose their for for leadership and regional thank service communities strong to of their want with commitment each physicians, In employees Thank us to every support I to

throughout our pleased a of you day. XXXX. look great forward of XXX-XXXX. have us the Have strong (XXX) our if are half rest first updating again, at you We reach any questions, progress we to with can Once always on And the you year.

Operator

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

may You disconnect. Have now a great day.

Community Health Systems (CYH) 29 Jul 212021 Q2 Earnings call transcript