Ronald A. Rittenmeyer
Brendan. discuss morning, us you, the for second as thanks our joining Thank Good and we quarter. for results
row from progress was We cash outlook in positive QX the improving $X.XX also which we reported of year. We ahead a flow. And continue quarter of midpoint in XXXX. of we quarter of adjusted improved on the exceeded EBITDA that second quarter, release you outlook. the and had million, delivered This of EPS we adjusted of the outlook the $X.XX we in performance. was XX% press was third quarter an the increase where of above of delivered the As of have midpoint another of was saw to issued and last yesterday, in solid our much versus we which represents loss $XXX our our free
detail South So, let hospitals, some me many in same take perspective on Texas and some a minute we greater for results. comment of performance our our Beach, before some our had strong on across face gets and we in provide headwinds I'd the Florida. into time, context. particularly markets, Dan markets, did At other like Massachusetts, California, Palm Carolina, to and In those
So, are actions bit talk take a what about facts of created on of offset and a minute some taking the we that headwinds these discussion forward. going to let's these and
in less-efficient the share certain conversations, based decision within were volumes, margin-dilutive made lower selected our some markets. discontinue done had did our changes earnings clearly addressed we QX with service we was being and view These and as on characteristics to and First, cost service we reimbursement line on lines It growth. is of thoughtfully, the these insured impact an associated growth have decisions These immediately. our also potential. of
is had partner, are Secondly, our a years. in academic experienced patient heavily large Detroit physician significant work is a volumes in and also our we to Detroit. important the factor primary Tenet, over has A we've have resolve differences which contributing this for attrition. and market market invested challenge with continued
issues, good these our have we on to our to We are resolving are are, outcome These we expect bringing issues and not systemic a encouraged Detroit, negotiations. though, conclusion. in very a current and with actively
committed in leading of we this to system, for the resolution with Wayne the academic headquarters a needs market. to a Whether DMC of State, people system successful health in the an and in on Detroit are ensures the continued clearly State great or not meeting Wayne and engaged service Detroit. plan that we very whether Detroit lines teams or are while growth are securing alternative remaining Our with
which, Chicago is are in pressures a market volume as had exiting. also we you know, We
good fact, will to we the it. the bought breakeven Tenet. are remaining definitive And by Chicago the and our communities. Last think end we month, year. We're assets of pleased the a surrounding this get hospitals hospitals we three In of are best signed found million we is expect sale agreement what's for we've a we to for closed really a $XX that we transaction even And buyer before sell – finally, a transaction for group have been it and those in receiving EBITDA, I that exiting that preserve Chicago area.
continue will performance are sale are a examples We address of the to These area. the and this continue the not reality urgency Understand to all have performance for any right diligence real the until our that, to we're selected to by with improve measure, to complete are They the we volumes live I'm amount any face markets, sake are in satisfied address we with support. transparency. not and and the and weaknesses. continue going to excuses. actions and and quarter of facilities They we'll operate move in in with these and taking
approach permanent we versus ensure resolutions that will are also temporary. We
the understanding deep ensuring based a have service of and senior we and Conifer characteristics. where included part have key USPI to every leaders markets started key on have presence on our on As of is of performance program market month. team we also with have dive intent of visibility an we're member financial other I a and visiting The senior with out my change exchange in every and markets, two team. and their take to We the market. opportunity based the many quality,
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the We visiting walk patients stations. nursing also floors, and
areas have and home need certain to in ups in ensuring our we office of need revisit, We returned future of terms a how empty the team handed support never things their game. may team consideration
yet capital growth. the right closely properly also tightening and eye on an has as have and market. opportunity in the the our how and marketing, heightened be year it accountability of to from to gather in This us further another in closest aspect fresh aligning track, and on we stay markets business day-to-day throughout IT all developing leading is the It to culture on the allocate individual those objective It need those per the we markets to insights more consistent further deeper right relates twice may do need to markets organization. allows drive changing we is deliver our that resources and then the special budgets focus a attention. Assuming and on services
me to take let minute marketing. So, about a speak now
patient. the head are new payback increasing of she's She IT access, Our very and to cost in can to and is what has and new has to Paola will Arbour. the will to ground demographic when exactly This we the prioritized dollar clear changes joined the to of well are patient us time starting recognized from my that to this plan aligned new Head meet system. be is that a measures manner background resolving brings within additional understanding clarity transformation critical every pockets the trim. implemented and in in care a then linkages market to enhancement we of where in most build for involve the of priorities of whether full be mid-May continuing speed. will at to investment Marketing, awareness and we're have in we and Paola efficiency, ensure for output measures unnecessary the IT the that our the every are from in create every the priorities And and the on right Marie or year. I some that but compassion throughput right a elimination additional recognize savings, overall a thinking our engagement only next the be spend. At will not with criteria. IT phases a efficient to marketing a marketing added in and quality, is that tracking and self-fund spent solid expectation in of isolate she Marie function, with for must vision the our She need an Quintana, work. organization and brings system means making, those have as remove Marketing continuing their primarily dollars, we real-time effort place believes and the ensure aspect step hit And other connection a as potential effective and the joined, our a have on same perhaps of spending develop every we in and business in wisely, individual we decision-maker other the are level by we
well of the growth and quarter. USPI. areas have very a business. was to on Moving strong posted They all strong performed across Volume
million in completed In volume million million, both we made has on some likely are it's this to which time, EBITDA strong. at financial in this we year. We outlook basis, Conifer, acquisitions do Conifer incredible to frankly, for very overall and vetting business. pipeline amount a of importantly, will increasing acquisitions. end a our acquisitions at of And $XX continued short which progress acquisitions. of it development meaningful target are Conifer's for since XXXX. total of USPI And $XXX de In another these levels, quarter returns and we're addition, we opportunities relatively we due novos the further remains costs million a every results is think $XXX guidance great the an to our month. period novo third are for by $XX an deployed sustainable strong, our of million Conifer's the there ongoing de on we Conifer improve Year-to-date, great in future and were, original very actively the performance over performance had given exceed And happy $XXX on to row,
down the And new engage to between of few effort a sale we a framework we bidders as Tenet with Conifer, to last potential As quarter, engaging continue a continue potential said on contract these owner. and I bidders. of selected with the
expectation I like XX% this a process our a Today, performance. owner are based context. share to think as to of away there I'd we considerations, important put which add really can of people in take and Conifer, on and effort few people the help
and become apparent. We we We customer will we when be to over given are ability sell and over versus results we know that personnel, should as staffing, need the performance. both I leadership do everything customer. associated what quarters a last Today, with owner overall to three have an Conifer, only improve an we owner. we a believe clearly control – that the believe we lose
to Tenet customer So, framework about that is I'm speaking this for both. aspect to critical to only a move a changes contract the versus
single appropriate to granular. of intake of agreements tightly engage new Tenet the of contractual future specific business. areas this leverage point cash need a This relationship Our that be and incentives in collect service we coupled are needs with is level in the that or and other series penalties performance and in the aspects and to shape SLAs part sufficiently
just I So, is let think simple this me why so give of example a you important.
a rate buyers level. Let's A would cash. collect XX% could hit good. business at certainly perform XX% in assume our a measure. almost be new That of great our owners performance sound or pretty They any XX%
in would simply which framing of improved freedoms over levers we're annually. easy should is said, place the Thus, quickly EBITDA clear reductions a loss finally, right doing the is approximately by the be And an critical million into we as head point. that expect negotiation. cost of us, to that that's ability act to have for decision we in as be $X.XX over And XXXX not cash at to direct quarters what the $XX are by last future and $XX impact be with opportunities, have the being billion right three performance a However, Conifer now now. And in XXXX. million posted, and we a
RFP dependent sell is our process. not a sales in of And in a our both be the into corresponding an agreeable, our important to is agreement tied typical be expect to since not a walking business flow, price, of but equally and free a on both cost to M&A success. in collection of aspects new receive if under whether future set a and Conifer, impact the change and you parties paramount leverage sale, going away business. owner right process or the our incentives and expecting In new Conifer's forward, other we're is clarity and a Conifer from recognized the that with the flow. dependent buyer. you on to directly will new SLAs. the said of cash numerous simultaneous highly you of EBITDA And this highly terms It's penalties hospitals performance in Conifer decision have period. it, is a these agreement performance since expect reduction translates an to and Negotiating not are between cash you're the for as and large on provider before, are as portion sell owner once I and and to new and given RFP that dependent a done understand cash to dollar-for-dollar also from free we our typical on committed our price the divestiture, With part with In process, improvement actually we We each move and the to we're disconnecting aspects. measurable
While function but close this longer is this these out, I to date outlined. actively may are than seem expected, do have we the actually of a of process discussions. certain to when I in complexity engaged going And we're the it not take a have
as last been I've week, involved meetings and sessions. in recently As negotiating
an is ongoing though. no So, it process. mistake, Make
We continue up are cost aggressively and to Conifer the clients. of full improved more quality performance with scaling gain across to on and the working in expectation process sales field service operate
selected the At few at we we attempting can. until the as to to to in So, conclusion these meeting points time change, a we full going and are make with shortest a these run we bidders time, same are speed. bring Conifer
expect prior will be clearly to meaningful on to million, will move we expect, were aligned to I into are the team increase culture path me $XXX my actively XXXX. let we be to on will evaluating million the I deliver the culture and $XXX costs a we in decisive rate leaner, in for savings So, XXXX. XXXX in and to of On of costs. book XXXX track tell round will plan, of by what our as the a delivery on I they them. run opportunities will of scope engaged a end have commitment and to and and part these of deliver accountability more to continue changing you next results.
into continue expect considerable do future. progress to area, achieved We and this have in I we will well so the
remarks, those Dan to me further now for let Dan? over with turn it clarity. So,
