AMED - Earnings call transcript Q2 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings and welcome to the Amedisys Q2 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Nick Muscato. Thank you, Nick.

You may begin.

Nick Muscato

welcome results Amedisys ended of XXXX. and to conference June operator the discuss the you, to investor the call XX, Thank second quarter copy our Investor and page on supplemental with A SEC Relations press website. X-K the on Form filing slides available are our our of related release,

joining will Financial call Executive is Operating Chairman Officer; Officer. us Scott Paul Ginn, and Officer. President Chief Legal on today’s Affairs be Gerard, Chief Speaking Executive President and Chief and Vice Also from Amedisys Chief Government Kemmerly, Kusserow, Officer; Chris Dave and and

Before Reform on to the reflect detailed XX-K, forward-looking under forward-looking we get this information involve These Act. and subsequent actual available These started and results statements include this with made information constitute our are update provided today. Amedisys to protected Litigation call, are Safe assumes I outcomes forward-looking laws. events statements Harbor remind to The as would that or conference of to SEC applicable like cause securities than including other risks X-K. company filings, the which and and statements materially may factors These of such company’s everyone on call the based to no today risks on our statements. Securities statements obligation Forms may call uncertainties uncertainties, from required in may differ our number a under XX-Q Private

over and Chairman in you. measure reconciliation Forms Paul G, Amedisys’ now be any X-K. XX-Q to also during Regulation In measure required the will most call turn And a of CEO, the will SEC addition, Thank our call I GAAP by as to available XX-K, and Kusserow. today our non-GAAP comparable mentioned

Paul Kusserow

earnings the Amedisys and call. welcome quarter Nick Thanks, second XXXX to

us of been health It or to partner home-based people still sight core quest efforts that with daily, have and continues one new Thank other risk-bearing, of current lose also in brings business will their for offering, just significant hospital-at-home our into will their patients moment history higher-acuity the Since obstacle from spectrum we It to premier in, market, its base care family. We us health allowing ventures activity, expansions developments has $XX and SNF-at-home the we for to have highest-quality care invest current I are walk Contessa of enhanced risk create all and system even with to into coordination acquisition closed and update. Contessa Amedisys’ COVID expansion I with Amedisys strategic priority new front employees more health analytics to care Amedisys course billion over in for $XX for that patient most the the dive The call, have all the to X that a then on to do growth for of expands is business, the sincerest and unrelenting course to new that arrangements Gerard caregivers on allow is as a this threaten broadest over over unlike Amedisys, how addition but extremely current But capabilities allows the all opportunities industry. nation’s expanding in-home to any in do. to seek to that second of it of claims you admissions, a homes. the company of care care, proud platform, surging the been want acquisitions though all broader level to I a heroic signing announce home Medicare has It as leader am care spectrum. highlighted the the us and August Contessa’s the space, operating taken the happy flurry across pipeline billion. turn but Contessa. in Contessa continue appreciation we I’ll discuss to a changed there preferred of in been future technology to platform. through to course, months. quarter in of home, total for last importantly, services of growth more second home-based our and also and health growth care, such Delta with TAM, call. hospital-at-home adds future of and want quarter, providing care home businesses in to and important along, this to deal first more hospital hospice and arrangements the by are population. last and with care XX,XXX has always include Amedisys the to our dive impacted reach and new and partners. primary welcome of our to all-hands-on-deck. us take the a have of lines from truly hospice’s Amedisys to SNF-at-home today’s all include accelerates Amedisys associates the undaunted service few our how such also I’m and tech-enabled, industry’s closing systems. joint It been. an helped the frail lines, Amedisys I this Financial care. home does is what Advantage-focused cross-functional to you your palliative significant dealing new these MA risk that, Other through always company been health the a and also payment the benefits areas even an With deliver addressable And awe-inspiring. COVID your right everyday. have place indefatigable Chris navigate anyone environment XX is don’t to express before And to of I and my the variant. want results But lot the has operational provider

already deal the We are hard thrilled capitalize tremendous Amedisys to opportunities Contessa. working to we’re frontier growth and get on new and for and closed, this

front, will On proposed for calendar issued provides purchasing year, the analysis preliminary the slightly XXXX the higher XX rule, legislative home states in being CMS in a the rule also providers. our proposed the payment calendar XXXX with first the X%. industry result expect rule with year the average. XXXX, expansion X, XXXX to penalty estimates on proposed to that maximum home and first impact performance than Medicare adjustment January June our a proposed or on rule The CMS XX, health Based health all be model X.X% payments. increase XXXX, of the proposed of for the value-based payment beginning of year we year

We are pleased to VBP. of the see nationwide expansion

the services rule of a efforts the composite and in Given XXXX, centers increase XXXX. that that over the announced X XX% score STARS are we X% Also, hospice with CMS estimates advocacy VBP. X, final July providers. beginning X will issued for our provided have to payments final care on years, providers CMMI of our XX, for this payment that CMS of rule October X.XX effective or of hospice fiscal in year Medicare result for – a CMS STARS and these for of excited better our top-ranked of expansion

expect with industry. the Amedisys-specific in We the line be to impact

the see, quarter, a during transpired within now our Gerard As performance the I a of operational externally, you our for to year to Chris call Chris? us and our throughout can has will projections rundown lot the quarter the turn ahead. business. over second give and

Chris Gerard

Thanks, Paul.

second our by performance this an total starting its total by impressive quarter review results health. Home growing by XX% volume of business, health XX%. again admissions with home let’s Now, extremely line continued and strong quarter,

in quarter most ‘XX suppressed As though of year-over-year quarter our QX due performance And to you heavily the COVID. was impressive. know, ‘XX last in year, was was the growth very impacted QX even second

For the VPE XX.X in down comfortable strong our visits We quarter, remain up our visits we visits have we quality very and with as increases year-over-year. levels per scores. X.X sequentially X.X episode, performed seen

never decreased anything On quality per we’re achieved we PTA we and XX.X% have QX, delivering stated And utilization to LPN mix we clinical promise. home all that the on consistently in along improvement continued visits XX.X% impact As health a in episode, our scores. these will reminder, scores, utilization. with given do

become As has business LPN per episode have our more come down utilization challenging. our to ability increase

is still improvement. there However, for room

you episode, We opportunities. I in to Increased increases per will also over per improvements visits capacity, our our with future once to performances want saw year-over-year productivity home to home been again clinical our to as growth health our associates which has increased key health call growth be episode visits how health productivity, decreased combined FTE staff for hitting X%. per drive in all cylinders. of our on continued attention Thank margin strong business efforts home home performance to our to really forward. their has growth, health segment. all From admission been

moving hospice, Now, rebound quarter, impacted steep and impact XXXX we develop X%. for from admissions grew and in down by multiple health while XXXX, was the on that sharp slower X%, the business ADC impact home total a to in COVID to into has rebound Unlike hospice been very saw the ways. COVID hospice and in has

year new XXX following. execute the a while needed hospice about XXX X.X admissions by this, to As to order per XX%. year, from of to FTEs the In to target BD month you the referrals growing our entering referrals mid productivity recall, beginning the to guided at our December, growth may we when achieve of we FTE total per from month. about we of were BD the Grow XX on

projections XX% and executing been Our show trends appropriately growth. to admissions initial And the were data all the aggressive. We’ve points superlatively. path

conservatism on are the what and of guidance hospice now, did layering not revised to our expect reasons resurgent in our impact Now COVID we more prolonged, was business. and we

Occupancy and fighting Specifically, for impacts facilities. Delta the pointing major rates are significantly senior XX% of on impacted referrals. a decline occupancy our early variant some service length referral of be accounted occupancy to of stay higher part patients continued today, source being living follows: significantly the remainder XXXX. of A headwind of the during of throughout to suppressed and year. a were surging median COVID pressures the over probability continues the we especially with our significant in the lower as

a admission many their a turnover, result of XXXX in impacted driven only previously The COVID our and as projected into burnout have back of a ability original Now days hospice And growth COVID our of increase which in XX XX% impacts half a partially saw shrank burnout on behavior, significant and industries clearly XXXX guidance into human particularly COVID in targets. are baked our continuation change achieve were not of the seeing, other to Excess BD staff. pre-COVID, had finally, BD opportunity. something we by we decline. days XX FTE versus

of place Some out these there internally are help drive of half to year. impacts growth of efforts have second been in control, our the the but in

unresolved no pandemic has As our I are expect, Consistent hospice or and above, the quality hurdle. described growth and fine cases, Clinical systemic have would performing problems most business. our through we with operations like there in better. are and been single issues

Our see the put exact same and to familiar, today. those recovery hire. works. the XXXX down delivered strategy grow business health sounds hiring two to it had not it is results BD should, strategy that complicated, and it we we retaining place staff nearly things: If in but as our comes The home in we overly is

past. that We the have in proven

are So what is we here doing.

organically hospice our ADC going XXXX. basic saw are that to We segment double XXXX its back our from strategy to

on our made hospice progress in team has We to have it focused members. the later though and ramping FTEs. in XXX% have recruiting added up staff quarter, a team And BD recruiting BD we our come

leadership oversight growth. in field adding BD, BD have the help structure, and VPs AVPs drive retention BD to and invested We provide to rep hospice and to trainers productivity

tools of we the on-the-job dividends surely community give BD and our whom We during as need in be Again, and yet nothing activities in program, the impacted us training have moved hospice; home to patients the their care lost better quality reps, trainings provide Medalogix’s were remainder rebuild will Bridge the we but manager for we to identifies year. as in of the which all which growth complicated heart to which including health and pandemic. overly is This to philosophy, set to stronger And pilot program, are there growth back VBD and that of meet will was the It may of and is currently numerous in-person of field, in environment, sources field, in-person. new it virtual we COVID in-person referral patients. hospice move here, will as insight pay many our during and have to BD Muse the Medalogix’s quality continue staff a time through these our return leadership into will we our ride-alongs. into result

We we identified internally we have a have and see what control deliver and today. can levers the on will plan, execute you

turn I our the performance will will take us more of and with of year. that, our Scott? projections over it detailed Scott, Now remainder the to through review quarter in the for financial a who

Scott Ginn

our I Chris. Thanks, second pleased am financial with quarter results.

the million quarter in compared XXXX. to a of million income second on $XX increase we a net $XXX per For revenue diluted XXXX, basis, GAAP of $X.XX XX% revenue, share delivered and of or

in included direct of have associated As our with chosen costs majority COVID-XX. a we reminder, service. apply these only funds Act are to The of to cost costs CARES

income results Slide temporary onetime income adjusting impacted we in adjustment supplemental our items items of statement characterized XX have or regarding line the the by expense these items detail that as our For non-core, results GAAP each slides provides nature. quarter, and our were or impacts.

that and associated note direct adjustments costs recognition of funds Act COVID-XX. include with You’ll CARES our the

Additionally, a million matter, include investment $XX during the reserve results quarter of a XXXX, $X.X well in as our reversal million quarter. our as GAAP on DOJ closed Medalogix for the for was which second gain

follows: EPS $XX second visits increased XX% on representing or were added $XX revenue as of $X.XX to recent sequestration utilization in to basis, XX% consolidated XXXX prior $XX home suspension basis revenue results points QX percentage improvement Significant results in as episode rate $XX a million. a and health an million. over to or per gross a items represents And $XX XXX revenue, EBITDA in per XX% health year. drove are $X.XX For increases reduction or the quarter episode, million the And as history. the home XX%, company million to gross improvement per million share. our in AseraCare which of and point contributed in a our million follows: adjusted $XXX EBITDA revenue revenue margin clinician increased increased our impacting EBITDA highest XXX and grew in acquisition basis margin. million margin. $XX Improvement increase to

compared same-store our total increase of the patients in adjusted driven of episode quarter up $XX home in X suspension prior per is segment year, second our timing per is reimbursement, In to $XXX revenue dispersion The additional the in to an allocation. or increase million, up turning million a result Revenue segment EBITDA the X%. missed $XXX of was a of change or decline keep functional year, in of of prior in performance, Now level and in health, pre-corporate XX%. XX% from mind, growth LUPAs increase in to was a episode revenue by related COVID-XX our and impairment sequestration, X.X% resulting geographic patients. month visits admissions a

episode, by visit on our prior X.X over scores. we cost clinician to while per Visiting in contract Medalogix and driven led increased planned of continue The driven in year. an implementation X% new higher wage pay, a was quality per a visits rates increase the and of utilization costs. significant Care reduction growth increase by increase Our hire has of improving clinicians COVID-XX in and insurance increases

per business in with million, staff on X% QX a G&A X% episode, PDGM. improvement. driven revenue driven Our The $XX was utilization admissions higher related administrative staffing EBITDA which lower spend episode. XXX basis significantly COVID-XX and gross raises, higher representing $X.X in our increase clinical increased model, XXXX $XX a up benefited visit. to XX.X%, of a significant development variable points increases in of driven EBITDA cost and was million our increase approximately related despite Segment costs, and increase $XX EBITDA million, by per point improved and in million, improvement per revenue insurance the from business health the $XX was investments up resources by XXX volumes. and by segment Sequentially, nature care margin mix mainly in to progress center margin basis an strong

closed segment AseraCare quarter, an over for was the million, $XX increase our year, $XXX includes Now addition which of results, acquisition, which turning hospice X.X% million by X% of June of up on second prior the XXXX. up a XXXX. was additional per that suspension X%, hospice to day the rate revenue a into driven revenue went month Net X, and an sequestration increase X, October effect,

AseraCare was increase of EBITDA COVID due due million million, employees to to lingering the million, increased G&A and the raises, acquisition and and of decrease transportation development As of decreased in training. additions largely increased impacted a $X declined our revenue health AseraCare discussed, restrictions by added ADC the XX%. and admissions primarily primarily this hospice as travel revenue year $X.XX, was EBITDA incremental driven development costs, $X increase turnover by approximately all The training. an X% $XX insurance million costs. and $XX segment in higher segment’s performed business of staff to business and million, and travel down prior quarter. performance EBITDA impacts million, per an and $X Hospice Sequentially, as by costs, insurance grew impacted Chris COVID adjustments, $X.X higher cost growth. to business acquisition due health day X% access

offset by acquisition. spend accruals. higher The and insurance prior to to a year-over-year total $XXX investments support slowdown incentive additional PDGM, resources total decrease expenses, our an million development AseraCare of the and general to in an is health to which related due Turning million basis, and adjusted business costs costs, additional or operational raises, COVID-XX, total million in increase administrative $X.X includes increase in reflects on XX.X% of year’s related G&A revenue, was a $XX and

cash strong producing in impressive from million internal DSO the X.X second and was cash due down operations. in Cash to collections. quarter generate X.X was increased days operations continue cash We Year-over-year, ahead of our $XX flow from flow flow projections sequentially. days to

result continued quarter strong a the was flow, of our of X.Xx. at leverage our end ratio As cash the net

assets the well. activity Turning to M&A, with started in in acquired a on We Carolina. regulatory of an QX off North health as May we increase M&A X, home County, provider Randolph

we of a In on XX. July on X, Contessa addition New closed with hospice Westchester provider Association, on Visiting on County, locations and August X. of acquisition Nurse to the Nebraska Iowa, in acquired in we home And health and York, closing a CON July

$X new Board by also that the closed extension will the growth. Under our additional announced of which which million our approved secured execution impacts we for stock our closing the credit facility. hospice extension. the the Directors additional continued for have authorization connection and seamless the of amendment our senior remaining In also an health We you of a used adds million opportunistically, business banking Thank we this Neither facility, or nor million home stock billion core to repurchase authorization $XXX Bank for to partners term has the acquisition, the and on to million deal Contessa $XX ability be led revolver, $XXX on repurchases, will previous credit with which authorization. have $XXX Contessa assets. loan organic and will a our from of deploy we acquire America

for impact of This we’re reflects Finally, our updating the updated our slide lingering hospice on and business. can ranges as its of the resurgence on supplemental guidance guidance XXXX. COVID effect XX deck, our you of see Page

Our are: $X.XX of these of the of $XXX are: to EPS $X.XX to Contessa $X.XX core $XXX of million, Including to of adjusted the billion adjusted $XXX to and impact primarily $X.XX billion, $X.XX. billion adjusted million, to acquisitions, of million ranges $XXX EBITDA adjusted $X.XX ranges to adjusted EBITDA business EPS billion, $X.XX of revenue revenue adjusted the $X.XX. million VNA, and guidance

and in Our performance half produced were our our was XXXX and of first projections, in the growth confident outlook. expanded margins, hospice strong EBITDA behind we though

we XXXX growing facilities are into the ADC guidance second to hospice after and ranges mindful of our states, prudent utilization we around Throughout adjust in difficulties primarily need down. our surges deliver have need continued key admit react, line half feel reduction in health been our how for BD and reduction results XXXX costs. growth, referral the QX to aggressively we our Given and the sources have guidance pressures. staff managed XXXX, and of COVID-XX, contractors The and facing recent costs drivers and in higher top uncertainty in of it

significant with has to recent our and impact both However, near-term Amedisys to this hiring isolated believe we grow and still hire hospice is staffing hospice issue, future acquisition continue growth given typically committed a been in us used segment which not invest the segment, operating cost support Accordingly, COVID-XX has to and a our activity, systematic clinical opportunity in to growth. despite metrics that and to disruption we’re core leadership is both forecast required for employees hospice has that our growth assumptions in impacted turnover and to margins. this our growth for opportunity the there Contessa.

BD I’ll our operating to ability environment. clinicians further back our disease senior itself to staff basing interventions, guidance occupancy on this the and guidance. as our and economy. impact could Any and current to patient achieve are procedures, Paul? in COVID-XX the quarantine, healthcare over disruptions well elective living regulations now the as to government or evolve spiking decline future to systems in both in continues change conclude. the call in on reduction behavior Paul turn We

Paul Kusserow

Scott. Thanks,

on see, segment, grow has hospice our can projected ability lingering generate our said, COVID great business unanticipated strong our to you care deliver That margins. the continues delayed forecast. and impacts to of the As at

deliver to identified the isolated results. to action have We developed and two We’ve hiring. assigned problem plans BD these turnover areas: and accountability and

deliver new further the on services numbers, path our in to will half to In second We acquisition solidify and and risk are us to Contessa beyond. XXXX position. hopefully, propel we our our advantageous via very parallel, ability our confident use our

do. to work have We

have deliver. which promises made upon will We we

achieving excited our are committed We to goals. motivated, and

to open sticking Operator, strategy, This our for we’re remarks. and call prepared questions. We it. the please have a good ends

Operator

you. Instructions] Thank [Operator Thank you.

Jefferies. proceed question from Brian comes with Tanquilut first your question. Our with Please

Paul Kusserow

Hey, Brian.

Brian Tanquilut

you as about your health pretty do I getting good home How Hi, Paul, you but in hospice. kind growth how an XX% think during the if and next quarter, about thinking Where looking rate home sit thinking are about the years, morning or EBITDA nursing of sustainable for, – organic parts you XXXX, the today? everything past well obviously, given the say, growth, look we’re are business that’s all does guys. to at how outlook moving X X for did your the changed that guess today I growth business? in long the challenges business,

Paul Kusserow

Yes.

you thank hospice. the about We question. for we’ve good So in feel what done

and As about X you COVID. and years ago third went hospice. build out the even from buying up hospice presence million AseraCare, largest $XXX our did We in a deal, eighth largest to hospice, started to about know, we the spending up went during

of but XX% median the days very terms we the days getting there XX getting in going the ago, think some delayed. we slightly to trying to were – And when were stays of when add here things done short patients, I were months were you out with what seeing COVID effects we down by the from that hit we’re COVID that strong seeing of XX we is we relatively – got get seeing XX. admissions, then

So about just feel good very it. long-term, we

key I strategy. got we pretty a is think thing the good

Our obviously BD. strategy is hire to

July. in particularly seeing progress there, We’re

there. very seeing we’re good solidity So

worst in Probably, getting We’re turnover. in better seeing May, June. we April, in saw May, month, our reduction

down. put behavior in to going was have some and seeing we’re good. is and home. the February there. And big And a at real are May challenge. people to what to frankly, We orders just it’s when they general, come we settle asking solidity People been time taking is back Now of, a between believe that work But experienced people school. was July improve, drop-off that, necessary admits found in there – and change we

people; retaining we’re The to to working hiring needing do: two, BD. – really we’re other be one, on better is going people thing more just three there to things going be in

we’re think well I and really really well performing clinically operationally.

BD just the looking growth, isolate I So problem be our better. seems that to of to area and

acquisitions, have, The to other some hospices. the thing we ADC due is low

as we’re economics identified really so dig up to XX. XX the ADC these we place. get have places where in, can to get We the that We’ve going in have

looking X% to years. next hospice and So growth, general, CAGR in the X general, we’re in at at still for between X% X

So much great XXXX, We The obviously, the businesses business. that’s on? and extraordinarily a going care. been it’s QX, say, love better; lot run provide me in I to throughout growth good problem We obviously I’d play you well. been We year. correct and want business. the a erratic XXXX, Scott, don’t has our better. to looks the has much, know, anything

Scott Ginn

No.

I – look COVID, our wanted it’s but be, where acquisitions ability we really a I grow I that. continue in you absent think CCH to you’ve EBITDA think at extremely we hit probably it’s little it. to well. to comfortable are I mean when with behind very with our certainly, I performing mean think that,

admits. in hit volumes. as in our I AseraCare. is like great our, there, health growth mean business, XX% Medicare admit XX So we had about, we growth We great talked home

of exceedingly that’s all So strong.

continue an into and some to got that, will get push year. in rebuild we the next on ADC half back nice numbers to just We perspective. here We from

Paul Kusserow

And we of expect the to this that do by year. end

Brian Tanquilut

are you’re But Got that us touched on a the I then action little just plan. of perspective kind see the like bit maybe on some what guess to relates okay, as kind of the it goals in get we some say, will to the of hitting back when making like metrics and ADC to benefits of at terms track. if of for Chris, these cadence can of on you moves we it. the you’re your And you give looking

little also plan home the turn to keep around a action nursing healthy more side? the the Just growth detail on the business on and

Chris Gerard

calls the we some function sales reps. obviously, Yes. in sales of And of drive is productivity look Sure. calls which your referrals, Hi, sales drives admits. of terms metrics Brian, at, a of the

to as in our FTEs. it we such making of seeing clear, turns A actually, the the little generate of calls of a number was takes of right number to into we and inflated most pandemic reps, because that We reps QX to strong bit accounts QX, that out of right very part were a were that certain out of first behind coming identified we QX QX, So and but was of had that admissions. been into admits. kind ringing the the phone out due productivity COVID-related of our we’ve great

QX, QX and our for which in the disappointment that track QX getting at into goal on into force to the we QX, But significantly. target XXX really BD expecting and to carried for our into exited going QX. and XXX us. into was grow We carried going So QX then a QX only We grow kind was XXX, of year. to

say So of spike the turnover of now sure has strong today May. turnover, down that, there growing. a that Paul in us hires. mentioned we’re making ticked BD in factors some well we’re turnover as progress, our making that And our peak driving to happy and as getting and kind that the since our enough new driving I’m real – XXX was things was

X if and months bringing of are maintaining – of today, and here day less productivity. of growing watch terms kind the XX% periods Those our reps think right for reps our than that every reps XX% less. have here formative been year. doing have now, X And been So or you our about what how in I force. we’re on reps and is

So as productivity should tenure, should and additional of those the our overall age pickup, to add actually reps. that into we we see deeper

we adding And is year, and in referrals, should I goal over XXX. the in So right off generate up we’re to The that XXX, – this on, making on need that. that can pace we’re even I’d maybe well this. hit them sure paid back hence, the half and to like be the we the track. just our admits Sequentially, markets, of year

a the that growth we we’re against going if depending negative the year, when basically variant, impressive relatively is It’s should But think ADC into but just I’m to but in we COVID-related again. in internal basically slightly it for flat year how happen QX, second last improvement QX sequential down confident now think in inflated to just day expect goals that, our over move could in a that be to I growth we from how we’re the Delta – going plan. generate speaking, by you’ll hit through this half. heavily end had on QX, going I’m mind but going just that ADC get, will see XXX be matter so admit XXXX. we don’t which of QX comp QX, QX in admits keep – encouraged And it. to on respectable, I admit to executing every and

Brian Tanquilut

you. Thank Awesome.

Paul Kusserow

Brian. Thanks,

Operator

you. Thank

next Matt Blair. question comes question. Our from Larew proceed William your Please with with

Paul Kusserow

Matt. Hi,

Matt Larew

guidance the as hear just set you’re what Hi, help moving morning. with walk with for to in remind EBITDA dynamic just Contessa might here the if you’ve sequester could coming Scott, XXXX, maybe back, of good discussed, kind of be the ‘XX? parts Obviously, it hoping us us for XXXX. kind seeing through or for we was at play, the for helpful, just you least pieces I me, hospice moving

Scott Ginn

always will it sequestration reimbursement, extended will XXXX with forward. mean line right we top year. which expect was – everything during away, of we start were as for we happens. – Yes. surprised we kind see there I now, what I this which to always move go We we mean can drives that

increase Right see. effective around we’re will October. the looking we surface, to hospice somewhere get on in – So here a X% a now, rate

out that health rule to So final, home is that’s not going The X.X%. be positive. is around a came

number. internal of kind puts us around Our X% to a modeling close

will finalized. once that We see gets

the that’s So mean drivers big us. for I certainly

this be we move the help. year, continued I favorable will comps for mean around hospice there. issue as around next ADC think – should into us our certainly the development I

it So segment in give us the will said growth out prepared as some order comments, expansion really to my I’ve we’ve of get it. that to added cost because, in

will you shape. some Home be to seeing is expand some around health ability that. So in margins great

story, growth feel looks well. It’s about growth a there. PDGM, to very be the and done strong we’ve I good So us. going

that. So of is coming not out there a expansion lot of

opportunities raises. right. – our RN not which and those We’ve pay, numbers be part that hire per about $X, great cost the on right mix, home going within really because LP I to in seeing in is get hires. are now has our our given of has we’ve think even offset made with which added you’re new visit I health pressure mean done staffing which some of good

those productive we So hires will contractor year-over-year at $X that that opportunity new pay, which get the now, million right a and pull about down additional at is running clip. – a

there us help to upfront. going that’s So

drivers. the those think I So are key

out. built our I cost structure think is

of line the going that back come health top that get will hospice we And it’s right-sized, this so will the continue once push down be So mindful to we we on think we as growth. well. side to then G&A home

Matt Larew

obviously, the the Okay. just quarter. in And home strong on then performance health,

folks? Just share the the is smaller from either reverse. ability support you’re organic what taking to an curious the about you’re now hire perspective, or as? to Either And an of then stimulus pipeline curious just – CARES what there, to from out or seeing starting some as providers M&A seeing perspective, hearing

Scott Ginn

you’ll do let the piece we’re anything We put perspective, haven’t pipeline going you’re that. and pipeline the that’s to pressure in. as on coming if have the think, with seeing I of on what lot. take about seen I’ll that’s around going away, dollars, going stimulus all a really agree Chris to Yes. kind QX, hiring in back that, a a – lot here money sequestration saying the From we talk

aggressive and targets, more open active I’ve up. it regardless on pursuing expect just said kind pipeline our been that to we of So of before. in We’ve been as

away around share business. to not have don’t we step folks do also the great take So only I some us opportunity from will some you deals up, some possibility of that? thoughts having for be know and their but I see Chris, from But that if to that just around a how which feel opening hiring

Chris Gerard

I there. I related propped anticipate They to by when do out seeing it’s us not our are for – but, hospitals, it’s and as an for care it PDGM. obviously, Yes. across as of very impact subsidies smaller the other well up difficult. environment centers providers very start looking opportunity it’s The now, And we’re industry right to the there only competitive lot yet creates Matt, there only out are a still well. out don’t competitive, hiring health staff Hi, staff. to impact, systems to as absorb think does just that actually

out to So what success. we’re having clinical we capacity. get in able to regional some of very, see terms good right pockets we now being there, But having build are very where creative is

to going soon. itself anytime that, that not think I is alleviate

grow we’ve internally. on stay continue bring clinical still to diligent We our doing and we’re the can building pleased capacity that very thing So we’re what that. we finding retention I’m got best in our to of do in feel ways with staff to our staff staff. retain out the like terms is and of

me our So on optimistic our to handle that ability up. growth that’s keeps coming

Paul Kusserow

one Matt, is see Yes. things a it’ll think think labor alleviate, is pressures. there if that I of to we’re and the certain the a I degree, shakeout, going mitigate to

we grab. agents that hoping we’re free big a some potentially can create that So shakeout will

these has people Act to really right lot CARES So in fundamentally the a now, that expected get. kept place we of

and get staff. hopefully, should territories new some So general, new some us in buy it us

our expecting – it So next into enough we’re QX, into we’re we soon happen happen perspective, to but can’t it feeling from year.

Matt Larew

you. Thank

Paul Kusserow

Matt. Thanks,

Operator

Thank you.

Justin Our question. Please from Bank. Deutsche next Bowers with question with your proceed comes

Paul Kusserow

Hi, Justin.

Justin Bowers

labor mixed dynamics, but, there a out Hi, it’s, is messages tough just there. market Well, morning lot good just of of kind Paul and everyone. keeping obviously, with quarter, this the

– seeing side of that or it’s you isolated business as in the in you is – are home you’re the think Some similar well? that kind the seeing dynamics hospice of of is there health some do issues

Paul Kusserow

big clinical thing phenomenally clinicians. that have is we is a what’s say which well, say I’d few doing I’d always – on we’re the side, important. The

we’re I’d well. both doing sides, So on say

We felt pressure. the haven’t

pockets, felt in it it’s in our financials. but haven’t we it in way showing that feeling a up We’re

burnout. And So drive We much in just going the the looking close we’ve people in of were hospice, a but an group that some change, homes that’s some real from to the seen of out backdoor market. Where in things their dialing terms are us. seen frankly, in we’ve where out, home key. And we’ve continue that’s extraordinary. still to actually sure in difficulty that. these not saw business fundamentally from but we health, is where surprise The getting seen we’ve And that these transitioning folks spike we’re for our recruiting make though, to seen turnover, new at-home a to selling. the push been can to May, where we saw very was in so March, we efficiency has when – April, aggressively, the turnover, we folks in And to turnover. we started some

anxious they to market. the schools to starting, though, way So decisions the in get people be now that What they’d markets. in a in we’re we it, to making thought out are with there going is getting is seeing, do do they that want out it the mean

where in more of lot development a talked to particularly force, lot anything? a don’t ideas and with I COVID if business about they how our changed sales people’s people sales less a missed in they roles. Chris, about want terms solidity, Chris seeing really work, We’re work, lot know, deciding of want as to work. I

Chris Gerard

and stark health I thing the home Yes. Justin, add hospice only that, my our composition in is the care The is, really difference now mean, of centers, between I’d opinion. to right

more locations. less portfolio years, in the time composition XXX If been much but the middle been half structurally of our of and a of virtual And some you sizable kind you trajectory the actually integrations, than of think hospice acquisitions, last then More an world. about de half than just our it’s X.X on that a than been of practically business, basically for years, growth at out pandemic. which have for those novos, coming move has very no hospice through acquired of to of organic our pandemic. home positioned look health, pandemic the several no the very, in the pretty We

in place right as is have to span team been. on had it’s probably, divisional, team and control delayed but think now, little for of leadership in relatively a we regional should we that build as So out doing, new I and in place. a effective The not the area we’re sales side the

with our It’s, coming on got we’re It’s have we’ve each our familiar just going. of world. the other one on in same the created a health So to out side. to coming. feet we the get structure of see basically a get that, getting still and of that essentially, home kind know churn exact think virtual we I kind that didn’t another has street just And rhythm

Justin Bowers

Got it.

of on mix couple just follow-ups I So have then. – a

do can you I’m And how it’s admissions or now, are or With the say, pre-COVID institutions/settings of to trying – are versus they that that community, you’re that? days, they either sense dedicated you folks on are days? have whether of various a calling like then structured? get that sales to sorry, or institutions, are force, just admissions to better So remind or mix dedicated just kind others like community, how mix, institutional let’s us compares, where admissions we versus are

Paul Kusserow

– ahead, the go think I Chris.

Chris Gerard

Go ahead, would Yes. Paul. I say...

Paul Kusserow

ahead. go think I –

Chris Gerard

the – seen the only see side. with really starting the kind living mix, us senior still on a is that, that on say would on I and drag we’ve it’s just area been of

actual and their on still our normal day has are ILs, compressed. occupancies mean been which a about SNFs, does XX% ALs, down volume I about makes up So XX%. it today, with of

ADC in about Our those year-to-date is settings down X% year-to-date.

us as heavily well finding referral opportunities fine which as doing really on dependent a back sources, think I job we’re we’re So them coming and new here.

and which most look days, to of an is pre-pandemic of organization. It take since days, metric if us. since as back around in been of that of median really a kind levels the for it’s is kind stay, of out length which at April, I telling look at, stabilized bottomed April, terms XX has encouraging January in So a consistent we

– volume question of just So that initial the now the the to specialists. a question – in. coming we it’s is first have function is, do Back

the they health of And and X or have health that accounts also be are other hospital-dedicated of hospitals, liaisons educating could home liaisons in We facilities, who that community-based, focus agencies be kind transition SNFs; that may only benefit assistance spend planning of of could who which they actually ALs, we number ILs, X offices; also they be home well, have assigned actually could hospitals certain with. agencies, hospice. on physicians’ then kind or a hospice time work are that have own on our directly

that So there, not sign basically has The think of the street of with need, and see our should And on median of come most out is again, we I length good mix segment changed our kind the that. a have mix stabilization much. of that. the to stay and now number we volume feet to getting us building we the and start encouraging

Justin Bowers

the we then more Thank compression of And the we are like in And or in on on a one XQ terms this before point? it. rebounding at what’s year in good Got just rate productivity last you. then exit? XXXX kind – margins, one, half segment assumptions the at just for a the the little of are the run of back

Chris Gerard

let I’ll productivity, Scott and handle the I’ll margin. the take

to On less the guide our newer, on reference, productivity just as this XX% we’ve a than XX seen for into per was about our mix doing month per QX less with X.X. year come about expected in about we XX.X get we months, XX% the – we initial admits we side to admits being when month. We this year. X what Obviously, that year, had reps, to of reps now our rolled down than were

this of guided the of year rest X.X. We about number have modest expectations the for to hit

that. sight margin should do Scott – So Scott question. line – I’ll have let and of able a be to that And address good we we the

Scott Ginn

Yes. I that. will take

been one. has all-in at of – XX%, our kind strongest the here historically, EBITDA margin best and our generally So, QX

see in the some and and So, we then us. a the QX I that step a of traditional with down will – key is mean from this drivers there. to buildup

well know $XX we as the of year. into move faced two and raises, moving we give the So, health about of as million the half second issue that’s we we so steps into the are year seasonality as second as those a that up, always insurance

recovering I to to for a when be climb the of of watermark, expect So, out – kind we bit XX% is But get and to high back into back. will QX. that we this have which build the year,

Justin Bowers

much. Thanks the in it. got I will Okay, back queue. so jump

Paul Kusserow

Justin. Yes. Thanks

Operator

you. Thank

Morgan Our your proceed comes Please RBC from question with next Capital Frank Markets. with question.

Paul Kusserow

Hi Frank.

Frank Morgan

Good morning.

I think move BD will I from the on issue.

we that now. think have got one I

When process the backdrop different how – final resolved me on the And track home that I understand years issue today long would referral kind of curious this you with several Just get it question, really sources how of on you long there? went retooling the one certainly, that did changing, of remind healthcare through it’s BD getting with long kind take? your back took and though. but remind of ago, to issues to effect just back end, guess how me a

Paul Kusserow

Chris, you it? got

Chris Gerard

it. got I Yes. Hi Frank.

it – bigger So, than in were was we issue a feet-on-the-street trying to sales identified QX force time. we took XXXX. the rebuild. some It We of

grows, to at the And of the see do and twice as you We that, the is two and you reps have the to their the then we sales that get grow benefit. on tenure, traction reps took get so the through. key again, starting almost – those results productivity then that, when – number home hospice, start in it health then that’s same come than in getting but about strategy. some And quarters

that So, we into as we started staff. went growth getting out of consistent ‘XX, more that and we were see XXXX to

quarter in expect our We but in so results think I to we QX, Slow identified so the saw of QX. progress see in And this. And expected QX. stronger end I QX, within this a progress definitely this.

Frank Morgan

It you I question. Got like it. VNA. the timing path be other recovery there. negative, with that hospice maybe, to Contessa? now, also bit of biggest the some you least originally there my at breakeven EBITDA like talk little might would a moving trends about seems but next from more maybe on And part thought, be looks what it. to Obviously, Contessa of and these guess little And issues. the are talk I was a about on just then, But Can

Paul Kusserow

Want to talk about the split, Scott?

Scott Ginn

Yes.

of and are quick million the to negative that breakeven with to $XX to get million will About to range million. of think $XX the kind $XX year, the we I of We VNA impact is lot and happy deal. folks negative Just not that that that piece, $X are to really overly on million expect – about make the like real we Contessa VNA, million what’s $XX that. about that. that, of sure with those we next A deck geography. in on that start have and slide And Page clear I early so XX into of concerned numbers,

talked about line Contessa, really As we have build it’s a top story.

We sight good have got $XX we that line of range about. revenue, million into of feel which

was going that. We drag still We million to believe a we have that it in XXXX. before signaled into negative $XX thought be

it’s a be think to I first heavy half going drag.

the I of direction. of is EBITDA be and seeing loss when in right really would so XXXX And some start that pull-down to we looking kind think sort in heading

the was that So, to of and of We through an about driven that, back Contessa revenue on feel good learned a the lot and in by down the a well. here we of lot year. had capture rates. some little acquisition take as regulatory delay A half that with to that approval other some through. COVID, on the think, of I COVID their A had round felt first conservatism, in they get experienced pressure through it pressures hiring we got guide Contessa when around

that’s So, of. are we something being mindful

Paul Kusserow

And I in Frank, out calling the on Contessa have market, been Yes. with people.

how in – what large clients particularly terms are and systems, going engender, it. to So, and to large think with opportunities we think that’s I the about do hospital plans the hospital that going I in about I am encouraged of – very excited bringing the sophisticated are

we think and can months we lot in know all a as which six ones see I and through will go So, we bring next our calls in. make the

Frank Morgan

surge issues one slowdown should ahead? are in on, are it. a on impact And read assimilated want any full early out are fixed to kind and far kind here, the get from kind I foot this where off and just so we the we we you our of current that of That’s going any I phase appetite variant of quarter? Thanks. Got terms mean it. of seeing gas all expect or these take speed in Last we guess MA? for now any with COVID the in

Paul Kusserow

good. I home to think there the think – I going pipe, a And but still pipe. prices I specifically going very go in a again, have shakeout. can M&A, we for still when deals, think we about to is down to talk continue health Scott, and good look it’s are are

I digest what think think to I there will have be absorb we have. consolidation opportunities. Hospice, and we

are years deals, Although ago out we paying are is there. these at were twice people we pricing for paying X Again, crazy looking what assets. the

strategic. very it Scott and are phenomenal job be So, team on a would de his have novos. doing to

And so XX up we novos are anticipating to year. launching de this

we place, should the continuing regional out to our strategic map. So, expansion. be home health, Home are health very build

And know, so don’t missed I I anything?

Scott Ginn

No.

something it’s hit You mean the We as point geography. feel it. to the of mean good sense, the territories, there terrific. there I operations really great I segment we opportunity that about we Paul’s think into. got EBITDA margins, we It really pipeline. the that before, hospice be expensive. was I are a we to mean, are Certainly, on that if I makes is great CON like get quality. wanting said hospice, would

can good all the strong there. is where are and and feel we understand home issues we And about of growth the appetite that, that isolate good feel that. the we health, So, certainly, on

as Our can have results done you see operators, tremendous. the

for up and So, we more. teed some ready think they are

Paul Kusserow

we how about strategy whole it we world. was Frank, the just new unfolding. need on the we guess, a our but but build it’s good that BD, general I how up, for Yes. some hospice work about in feel really about Clearly, group,

not anything So, regret, on. not we that we is box this and anything execute are thinking can permanent, bumps, anything we not

half very of where this it feel we prove out through year, are are good get we we So, the and about hospice, to it in second going in all.

Frank Morgan

then COVID And first on Okay. color quarter? any

Paul Kusserow

about a Chris yes, it. talk COVID, can bit

reps. – in particular, low-vaccinated some Louisiana, states, see have in the things to starting Southeast, seeing Alabama, our in we for where we access are we see in particularly We some some Florida, where shutdown obviously like are

on So, but who that? vaccinated track color on it please, important. going to-date, any we is is, hasn’t I one please it. anybody us affected thing the Chris, And call, consider But don’t concerning. know, not I It’s to are that. it further really can is say the

Chris Gerard

– we thing other that making own real we in that to we on of are are straight Yes. XXX for for restrictions those are employees Florida, the I four mean going like taking there are during sure that weeks access. some The playbook still Southeast, the tick-up other terms out we taking around lot, last us patients possibly there the have than, noticed a worked open were still our same quarantine, last where particularly again, not of for But – can. pandemic kind business, over is is today. summer only of a that there back the

as So, exposures that’s we the close a something on little are are keeping a bit. increasing eye

Frank Morgan

Thank you.

Paul Kusserow

Thanks Frank.

Operator

Thank you.

proceed comes Our Ransom next from question James. John Raymond with Please with your question.

Paul Kusserow

Hi, John.

John Ransom

Hi.

different. something Just about go and trying talk to

to troops think get worried bunch to out? are and pretty kind burned frankly, next a going this are vaccinated? you about for just force And curious your have burnout. going I I you people – the are own stats fighting seeing Your your battle burns quickly, workers I the about like many out you yet big-time How this What’s like? – – in this we how own now. what just terms your fire assuming six mean having of thing into you of have been turnover so of are And some terms just quarters – how mean more that reading you of on in temps of look stories many labor mean – of about are exhausted do into use? are, next with

Paul Kusserow

question. Good

our And the think, model that I our has doing troops. strongly troops clinical in right have been good been and where retention the good, working we very are that our particularly very built we general, feeling has we are predictive feel really good, things.

over model. you their a turning For over. – – hospice, the we this use clinician able, deaths month, know we If there is doubles and that chance burnout, is had in to six again, were of where some but chance in then example, we

this good – care So, understanding we feeding this the about feel into centers.

retention is the drive again, this. been – which extremely So it’s clinician been good, has going to

into wanting hospice to anybody it’s field, the Our BD back people really in And terms has in again, going they retention, just issue. else. – to go of been aren’t our

jumping They into are not to work. hospice they odd. sometimes, So, Chris, and it’s like into going different into are further I just – anything? not going competitors. just parts back missed life, of It’s

John Ransom

Thanks.

Chris Gerard

And is the saw on the kind had thing, geographic to back pretty then get kind rate, of XX% vaccination one of John, Just we that and quick off. leveled disparity. it we

are are rates. variant people’s is the able I we are we back What attention, now got up, than number be some the kind are Delta hopeful that we pick to of has the to southern states vaccination really going higher think With lower have it as and is of we seeing to push that south, starting today.

– of We we to are to stark vaccine will pretty tell reasons. learn polling the you do around opposed pretty staff, for that XX% that various it’s our a taking internal we that when

and patients, and sure as is So, this, vaccinated for we our of as make their stress many continue what families our to them, of it well to try employees our the as get as possible. goal importance educate to is that

Paul Kusserow

think are we want a seeing, clients saying interesting And also what on I which is workers. basically now only John, that are calling the vaccinated is are lot we we of

So, on in per there to be a home they tension, is which visit particularly not a are going is basis, able if health, to work.

so going And that’s be to significant.

John Ransom

I – see hadn’t I anybody would to an been going to am clientele, that Right. That’s surprised would elderly I who surprising me. am was – vaccinated. they say someone

Paul Kusserow

frankly. too me To Yes.

John Ransom

Thank you. Okay.

Paul Kusserow

Thanks it. appreciate John. I

Operator

you. Thank

Stephens. your comes Fidel with Our next question proceed Scott Please from with question.

Paul Kusserow

Scott. Hi,

Scott Fidel

everyone. Hi. Hi Thanks.

the – Contessa impact. that, number. drag was want EBITDA million just clarification just had I sure you actually the know to the that to $XX First get touched want question, Scott, on a just But on or correct was I an say mentioned are Did you expecting just clarify wanted I make XXXX. and that that? to you just

Scott Ginn

right we time, was number. what That’s came the the around deal originally we – when Yes. with said that the out

year at out reevaluate, but certainly take to-date. as we and will that’s put look a again this what and that – we We exit

So, I I originally put what – we reiterating had just am out.

Scott Fidel

you Okay, in real $XXX on, question into billion topic XX your put to enhanced about to on over of care? here maybe proposal included just passed, that in personal a understood. would the actually how relative And that get for strategy if thinking of that enhancing And in terms focus that interested then there the current working as reconciliation that are different maybe influence does they Medicaid reconciliation? well, the guys gets HCBS years thinking a the your it your about funding just sort dems interested in And bill strategically and strategy? and are looking are on whether just just views the

Paul Kusserow

basis question. it’s I to elected we it these build variety general, good personal business have handled due clearly and local are owning to things. We better. general think, believe in network have on – In and a a better out care of Scott, small a networks through a versus building

with the care we sicker network care. and are include personal Contessa, of business to we people, building out through So, then take as technology the

So types SNF-at-home particularly, workers. will hospital-at-home, need of you in these and

to like going bringing people that, think elsewhere, So, restaurants, that in thing. particularly think, in. in things We general, work retail good be a it’s it’s that could might come good a or thing we

good for it’s – think end integrated integrated lot I we but little towards very And plays towards where exposure. have think integrated a plays So, care, – we this we love. the care, anything again, a it lower

Scott Fidel

got Okay, it.

Operator

Thank you.

comes of question question. with Gajuk Bank with America. Joanna Please proceed Our from your next

Joanna Gajuk

dedicated quickly they I because Thank to about that’s you or the Obviously, guess you are hiring, you here. have and you. and turnover. it I to we guess, leave. have the lot taking new guess, I talked leadership take actually explanations I particular you higher for for like just recruited recruiting, mentioned because you that, more sounds just clarify, salespeople right, – guess But actions staff there. a But it and attract are you can around any the Thanks you all

you of dynamic? So, how can that change kind

Paul Kusserow

are in today, our was are, Well, room am happy actually, some I happier. lot ability recruiting to of except who happy think the doing am ought we are really what the a a to about June, to I so she efforts recruiting July on we Chief sitting not not what we with numbers have Officer talk from getting perspective. our and our expected seeing. this, with head are us speak our People we – I about but control turnover

backdoor. Sharon to close ahead Brunecz, that the is – this the got way. Go we by So, on

Sharon Brunecz

Good pleased. we really been Yes. have morning. Joanna,

and the additional like nursing be resources and both We in organization, the people attract business side able side. development have added on to different both people sourcing tools the to to

funnel, feel are our really trouble resonating value the top the And So, have is company of as been what doing the good on has market. that turnover. about in in about and we the we I a end development here, as talked proposition business

levels been served on have been through has is be levels and we and those we been driving those numbers side, believe that have trend that at. have business Our nursing our And the starting this the them challenge. But I great sustained. have numbers in predictive and to us to of working down beginning down need very able they drive anomaly to to to models well turnover the that like turn firm, we seen back development are to this here. have that the we And held

Paul Kusserow

the the very net I And we can – XXX. recruit at we beginning we now from doing would us full turnover the we XX a was about high-teens, – Chris down are We of and our day reps, basis. capabilities, to if good are XXX as get low-XXs, And about we rates that’s – folks for I with Joanna, year, saying month. on we reducing had say, between a then can have think, XX a

is target XXX. Our

So, we are midway. about

We I to coming in, have think, got some good amounts coming XX in. XX

we Backdoor’s – pre-COVID, those They would for good. pretty BD about better. were when are we once in So, I per we folks. productivity levels it high-Xs, XX.X month close to productivity Initially, folks X. now good. – the levels closing. are initially, our about get are almost very see were But looking like feeling their

the out good. keeping them key up, and getting getting levels field. want pretty people finding is who trained productivity in, work in are to So, them The them to come

getting in we this. ADC. arms is Where repeat focus but And need our to below we again. – I have those will XX really then general, So and around also

care have We of centers, them, up. XX

to economics care of ability the kick that So, the and really starts in.

of making they referrals, of we can a so economies extra are getting bringing to making the start we sure putting in there real folks lot So, in BD that ADC in. and stay above and on some and kick are have get attention sure scale they level

Joanna Gajuk

Right.

if I deliver, of just and I guess, I right can guess, these just... the can in terms admissions? in So, guess, I people, And finding it’s goals stay bringing more about they, that then

Paul Kusserow

in them lot post-institutional from a other – seeing are a We forces. of sales lot other of

– SNFs, So, infusion places, these other we there. in are obviously, and firm we starting results to other see good places. starting some from of and people to see are some are

how what’s people and in on quickly. know kick understand to So, going

Joanna Gajuk

Alright. ahead. Go

Sharon Brunecz

the decided up. – People wanted has getting wasn’t are some is back out the into what we us, in and particular, career that field new, have was of hired to I their year right. with we we And saw home, will, see. if been in people in they world opened what think the said, at whole people last you we QX, bringing that part now, had And as right,

right. past moved have we So, that issue,

the are are that doing are that. hiring field, in need in they environments people actively coming out We be selling they and where in, to

are think they more on a are basis. I to do what people for need So, prepared daily going to

ramping up that’s quickly. So,

Joanna Gajuk

squeeze to the question, same on No. follow-up in trying guess, terms of topic, side. if related or I may, in That’s labor was I the I the on nursing great. a just And last also

I other So, is to to people you move a situation or retire some kind turnover of it more as to pockets issue guess that related I said just So and faster? there so more, similar the guess, jobs it’s right? want burnout issues maybe well, of are or

Paul Kusserow

but of that faster, places able these very could grow of to like nurses in some wouldn’t Yes. in bring is is that pockets of nurses. much take particularly turnover There also areas places of finding Boston, find areas, are other – Baltimore, we this difficult. with can think home that open racks. where It are And I were these particularly we I difficult there in to there recruitment pockets we nurses. if urban say hospice, is are concerned is particularly some environment, long a time health, in

it’s is capacity which why, we and why, turnover. best so we happy ever turnover, That’s our important that’s think very it’s are I been. with the control –

recruiting, to of is these just we find of these desert that, very The some in good. strongly So, some key just feel a that’s places getting It’s nurses. folks.

Joanna Gajuk

so much. Understood. Thank you

Paul Kusserow

Thanks, Yes. Joanna. appreciate it. I

Operator

Thank you.

Our comes with last Jefferies. question from your Brian proceed Tanquilut Please with question.

Brian Tanquilut

guess, soon I allowed correctly, follow-up. I of in back buyback. bought some the if would authorization, taking buy remember you March, follow-up had be like XX the after guess recall, for and really on just, right? in Thanks to you Hi. how a stock, I the earnings market most the to or soon the you left within because that over call And just I last to are days. for be it, If Scott Nick, quickly then from

buybacks curious share how here? So, thinking you about just are

Scott Ginn

I take Brian. will Yes. Thanks, that.

brought average we in on slightly first below that So roughly half have price $X.XX. spent yes, million $XX probably

something in to be plus we could buy as to So range. use additional be. do kind million next that as put opens as We would which of million soon as we place And certainly, at need week. proactive that were be window an $XX internally where able be will we it buyers $XXX to our organization, will certainly, that

of kind nothing Really will a are where out when other Margins bullish the we before mean changed has move evaluate to bit got we line were than of as and forward heading. we things from we on are are kind fix need certainly be. we So, where settle issue. I this top phenomenal.

I But we am long am this long-term are of future – good a at in us, front be so years, the XX I our and about I price. feel Amedisys. am I been I I opportunistic that at will Amedisys Amedisys. here opportunities So, of think person, certainly have certainly

Brian Tanquilut

you. Thank

Paul Kusserow

thank Thanks, COVID. quarter. for keep like very this call also trials thank who doing again would everybody doing. Brian. joined great. you a of the ambiguities and Please doing you are with all our good It’s to delivered us Alright. on want employees and today what who Thank I the to

call who in most, progress forward people on wonderful quarterly a everyone to care will has our earnings continue take ever-evolving we updating until taking day, October. we the you thrive. And again, who need and look purposeful you on Thank and our of us if hope next work care then. we us, late the of always first, the things need to people First

Operator

conference This call. concludes today’s

your great You may Have day. Thank this at participation. time. lines your for you a disconnect

Amedisys (AMED) 8 Aug 212021 Q2 Earnings call transcript