R. Allison
President me our Thank you, Bickham, Brian are today Poff, With Chief fourth Dru. and our call. Brad Good morning, Financial earnings and XXXX welcome Operating to quarter Chief Officer; Officer. our and
results quarterly Brian detail. discuss a overall then few of more we will As with do quarter fourth comments, each calls, I begin our will on the and in
to would us any of X questions. happy be the comments, to our respond Following
is recently the proposals cuts areas are President spend minutes of discussed announced of earnings, and would which yesterday, note and I service there administration spending related although to so Medicaid sharing spending. as some care me of floated Congress. well This includes indicated new spending, administration changes by not across being view many documented Before that be that being I It virtually new program few pursuing the federal is these. our thoughts Still, Medicaid the let I on actively some discuss potential health express part the cuts. a we wanted touched our to Medicare all the
or FMAP provider limit the American payments administration federal As taxes, Medicaid others, certain part as rescue concerning Medicaid such among have Medicaid the Biden and covering as listed reduce and of work reversal the of rules. enrollment floor, FMAP with Medicaid access state-only state-directed cuts for potential federal lowering to limit areas discussions Medicaid congressional on staffing ratios possible to FMAP been of spending reverse and capita penalty immigrants rules Medicaid spending, home repealed caps plan the undocumented money, per state nursing incentives, following requirements
The aggregate period as as high $X.X could trillion federal XX-year of savings this a time. be list, of implemented over if
of reduction $X.X However, reductions. of spending Also, it items billion provides cannot resolution recent of rather on House concurrently. no list XX trillion number than be spending implemented over years specific budget includes $XXX a these that the but details the the Representative displayed regarding a most health
are listed many population is or people Addus there we Most items disabilities you directly serves that of As cases, approaches not with the overwhelmingly like would address a would in I just serve, population more adults that the the I couple but older know, in detail. of to and both. impact
that the would enrollees spending per the the understand payment would different We believe the Each first for Trump spending less cap board. and We during discussion number annual proposals. would the The proposals among enrollee product capped to caps across some to populations to be the our each total groups times caps, state. limit caps of are federal capita administration populations Medicaid apply vary this not set idea certain on of in those spending upper could state's eligible an enrollee. funding under payments amount. Medicaid populations per Per only these discussed eligibility Medicaid likely federal the in limited be
of no Currently, to the FMAP federal the Lowering expenditures Medicaid. the than government floor. of XX% states reimburse less related
the on higher as capita states less than receive are XX% of the states no a funding formula of FMAP would states payment. matching less impact floor the received number state, population funds. the paid Some with higher they a earning but lower percentage per income all based will Reducing the to relative relatively
we July FMAP Institute, or the floor their the a report impacted would which be could to Washington According serve Paragon our by by X% and Medicaid California removal revenue be total of approximately of states XXXX that lowering the consolidated represents only combined revenue. the
the additional funding believe I proposed to optimistic bipartisan for the shift could While federal changes to at services that reductions Medicaid the receiving to significant to -- of as provide we it overall Medicaid state more institutional sufficient we expensive alternative cost Medicaid is care. that avoid support the the state there programs reduced cost is level. to states, are an services is important actually the patients offer we remember frequency we increased
net be any the predict will which, cannot these Obviously, if implemented of of effect changes. or we any measures
both this [ will ] and at team passage Senate relations government of even are House our daunting in level believe top the reduction. of committee then passage out we orders believes the and be However,
significantly is own with In its pursuing lower results. fact, unknown customedicaid the contemplates budget spending again program, that resolution Senate
of administration. home this the and as valuable which, population Congress a states on relates much believe higher for extremely our states which and Medicaid focused population reductions. both we could I are we government. At remains want is that to at-risk care to as we understand to federal both to as lead our if services it this to Addus, care, our sure cost expanding total to well our and you strategy the any serve, cut, be state of federal lifeline concerning thinking viable potential Medicaid
bipartisan the by the cuts opposing to encouraged are program. comments congressional Medicaid We
and As contacts we occur disabled presented we as Washington, proposal the in with good continue house. in to be from may budget work a by as any to are believe which to that minimize the elderly low-cost our effect we position provider
results Now the let financial announced me talk yesterday. we about
to increase quarter per X.X%. This of for share $XXX.X of was revenue X.X% the the earnings an total fourth for $X.XX adjusted in to earnings growth share Our the million, as for $XXX.X fourth fourth million XXXX. of resulted per $X.XX, an XXXX compared XXXX increase quarter of of of of quarter compared adjusted as revenue
compared an increase year quarter XXXX, of been adjusted $XX.X million our was Our This an past $XX.X XX.X%. fourth to EBITDA for one has for million exciting the of company.
the be We continue to completion on stated concerning we focused of to as our date. goal profitability acquisition largest our demonstrated and with growth
an per $X.XX to of for For earnings $X.X December as the revenue XXXX. for that total is X, acquisition adjusted per which billion, billion of compared as closed Care of XXXX, adjusted was XXXX compared including $X.X $X.XX, just share our Personal to on This share revenue month XX.X%. in X.X% of increase Gentiva resulted and X earnings our increase of growth an
XX.X%. XXXX for million $XXX million was EBITDA of XXXX, adjusted to increase an for Our as compared $XXX.X
we continued XXXX, cash to During flows. experience consistent
hand approximately had cash of million. we on of $XXX As the of XXXX, end
of was close on outstanding acquisition, $XXX December credit XXXX. the million million and of transaction fund Gentiva on $XXX amount line Following to as the December XX, PCS our approximately of this our bank X, borrowing of XXXX
opportunities. Xx to pursue to leverage and at continue EBITDA, the under evaluate position flexibility conservative We continue allowing acquisition strategic a have just of us adjusted to
December. with you share an this past Let me our I update which Personal Gentiva Care transaction, mentioned closed on
of of operations December the minimal would understanding from preparing Following several for an the with of large closing, to most joint that Gentiva PCS X. months Addus job we disruption. took team, PCS planning day with need excellent provide did teams back-office this business services Both over
closing back-office we While of time this did transaction the case. not have the we additional transfer to normally in certain systems, the runway have following
However, moving Addus with business smooth the into structure. planning this mentioned, a corporate we detailed our of just process I experienced
It Gentiva care systems the of brings transition legacy the Gentiva both a the to take continue The our that gives from great while all many the Recently, I also the me with goals operation. methods operations. our day enthusiasm new process. opportunity the by officially I ability planning welcome Addus. I diligence deep deal teammates and leadership the and to of was added our consumers and to to of a this focus meeting Addus and was financial new the help want we we confidence the this spend due had new with Brad in experience acquisition team our Addus. of developed to team during orient leadership to the of result encouraged acquired of team day to
yesterday. our me let operations, we and labor corporate our lease in about discuss announced write-off included office I Before talk the results
prior for support forward our size the and modified a going decision had have. a to to doubled companies of going Dallas work corporate corporate during pandemic for After team footprint XXXX the our utilize weeks future number team to pandemic, remote our growth. Just potential of leadership our made we as the the office our team remote schedule many
leadership we In to to them in able keep relocate their to our Dallas. of opposed were allowed an certain after better current found if requiring addition, team that members location key new to as acquisition, to we remain we
We've leadership staff. closer well operation change extremely this operations and it to brings in worked corporate for to seen allowed field company's With our states, spread our operations. XX-plus over has be approach our
excess determined was statements our cost of corporate million opportunities financial to in of this approximately order we market, researching we to accelerate onetime the fourth XXXX space. this it in the a our space write-off remaining excess there concluded take to sublease made sense For quarter the limited at related After reason, in office. $X.X
certain me let our Now operation. discuss areas of
hiring XXXX, During in segment. Care experience quarter of caregiver solid we our fourth especially success, to continued Personal the
well XXXX. we saw at quarter hiring hiring X care XXXX, fourth the hires in and Please when which always year to Gentiva Christmas with personal During day our operation. compared Hiring the as PCS holidays. we the the up of hires quarter that challenging the fourth fourth is day, of numbers acquired the quarter as per York per exclude operations, New note of recently GPS XX Thanksgiving the both divested more
numbers encouraging So the hiring see mid-XXs. in our it remain to is
few quarters. hiring our we strong the we over starts momentum the seen to numbers, past continued day, per business which in have addition In
consistent foreseeable our as been although in we respect hiring clinical PCS for will clinical the has environment, what see the few see and to With we service quarters, more variable that do the past segment. challenging we clinical continue than believe our geographically labor to in future, improvements overall over line, remain
utilize Act or Plan have Rescue the we few the As American years, the we ARPA. continue over funding to past received from we
million, $X.X leaving of During $XX in our our the caregiver efforts many of our as In training. to and in recruitment additional Care small continuing fourth are operate. of as to be quarter million XXXX, received remaining support continue funding, retention approximately funds a These and over we services receive to amount to we while well funds. we favorable caregivers' the for ARPA accessible which used states opportunities enhance help reimbursement the Personal experience segment, other utilized
that care position value managed our a We as Medicaid a earlier, are are to continue Medicaid the favorable state as in confident real considered. programs in personal changes stated deliver cost us and to as reduction services partners of care, we through care overall various as put well
$XX.XX. the Illinois, rate January increase state largest enacted XXXX, rate for per a personal for bringing to X.X% On care services care personal hour X, services, our
We for continue that give from positively state. you Personal to impact XXXX. and Brian the how information more the that will increase on received performance community-based strong of our anticipate appreciate leadership this will this Care financial support home we services
our revenue Now discuss growth XXXX. same-store the let of quarter me fourth for
compared fourth Care For segment, our was XXXX. X.X% revenue Personal to growth quarter of our same-store the
by to During XXXX, We slight same-store compared growth of we Personal same XXXX. in primarily the part impact in increased due saw the same-store fourth Illinois. period the hours northern hours redeterminations our to of saw to Care continued a quarter as X.X% Medicaid
taken Illinois, we believe longer end. has is process an this While this in nearing
hours our redetermination compared same-store over improvement in Medicaid that the rate help improvement to encouraging showed X%. is nice hours as along care the authorized with XXXX. This to continued we we improvement the on quarter hours personal we us to over our returning continue of of percentage as should process served fourth focus growth completion see It of
operations. clinical our to Turning
Our compared when to of the quarter fourth hospice same-store revenue X.X% increased XXXX.
the for period average the daily X,XXX to total from last Our census X,XXX year. for increased quarter, up same
quarter same-store daily increased when Our compared census the average X.X% to last same year.
of to For quarter medium the fourth patients third short as XXXX, in the XXXX increase was for in fourth number stay the quarter of compared stay the days of quarter. length hospice we of as XX XX an length our days of saw
this mid- Our high to is metric stated target XXs. for
improvement we leadership pleased are accelerate operations we in new and while of Overall, recently by sales segment. year, segment this hired our have the this further hospital improvement to
are stages improvements final sales as We progresses. month, the which overall to project, we expect of will and this continued retraining year in volume the an current conclude drive
of home segment when X.X% same-store quarter the health XXXX. same Our revenue compared increased to
We positive to revenue anticipate of a business are XXXX. our return and pleased to see will segment in growth this this growth continue same-store
right As to to care care markets provide have segments which previously allow have us to our is which discussed, time. care in health patients at we right an have the access in continuum services, to partner our with our the ensure the home the personal optimal hospice the these patients and our we important overlapping
the acquisitions strategy our an Addus. to by Gentiva transaction, continue important part Care at of be demonstrated As Personal growth
minimum targeted base, of XX% obtain health handle new administration, we know time. potential point continue for remains the can home how at larger health CMS to will with any to making market transactions in the the until this of clawback. feel growth revenue on continue rate annual more opportunities, along annual this our dynamic rule small visibility We revenue coming even with under home Our goal revenue specifically will we size we regarding see
our potential to care for We fit personal of look will, services clinical adding health however, transactions strategy that our continue markets. those home in existing
care. will our looking both started for team a process have the which us in acquisition nonclinical of in Now of has Texas, X all that opportunities clinical home state, and presence to in coverage allow strong statewide start that we levels
transactions looking with We smaller fit this at which well are currently strategy. certain
approach has service proven coming XXXX, While are quarters. of in there opportunities to over pricing to diligence, potentially market be which to for advantageous of due committed larger conservative several and later the past maintaining remain indications feel overall to a acquisition number we us clinical our we
the have clients at elderly places value care. Before disabled of Brian, and safest caregivers the care that We work will and to disabled care this thank of Addus both outstanding providing believe team growth for continue opportunity over understand majority dedicated the of want the remains other hard to support employees consumers We and I our the turn industry patients. come which most and call We incredibly operations are is that to to our want cost-effective the and heightened and and elderly to for awareness they and are favorable of growth and on I the patients our clients, our who their patients home to so our one this to receive a receive care to families. home-based be dependent our for company. providing appreciate and understand care and all
let that, call turn over With Brian. to me the
