Earnings Call Summary | CareMax(CMAX.US) Q4 2023 Earnings Conference
Earnings Call Summary | CareMax(CMAX.US) Q4 2023 Earnings Conference
The following is a summary of the CareMax, Inc. (CMAX) Q4 2023 Earnings Call Transcript:
以下是CareMax, Inc.（CMAX）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
CareMax attained its full-year revenue targets but reported negative full-year adjusted EBITDA due to prior-year developments, increased medical usage and increased flex card utilization.
An additional $60 million was drawn from delayed draw term loans for Q4 operations, with a cost-saving strategy initiated.
Estimated net payroll reductions and site consolidations are resulting in annual savings of $15 million and $5 million respectively.
Negative impacts on Q4 adjusted EBITDA and GAAP net income were noted due to prior-year developments and a $369 million non-cash goodwill impairment, respectively.
Full year 2023 revenue reached $751 million, but it reported an annual negative adjusted EBITDA of $63 million.
CareMax實現了全年收入目標，但由於去年同期的發展、醫療用量的增加和彈性卡利用率的提高，全年調整後的息稅折舊攤銷前利潤爲負。
另外6000萬美元是從第四季度運營的延遲提取定期貸款中提取的，同時啓動了成本節約戰略。
據估計，淨工資減少和場地整合每年分別節省1500萬美元和500萬美元。
去年同期的發展和3.69億美元的非現金商譽減值分別對第四季度調整後的息稅折舊攤銷前利潤和公認會計原則淨收入產生了負面影響。
2023年全年收入達到7.51億美元，但該公司報告的年度調整後息稅折舊攤銷前利潤爲負6,300萬美元。
Business Progress:
業務進展：
Ongoing company-wide changes are aimed at optimizing cost structure, performance, profitability and the exploration of strategic options.
For three consecutive years, CareMax has received a 5-star quality rating and expects slower medical expense growth in 2024 versus 2023 due to care management initiatives.
The Medicare Advantage segment grew substantially from 15% in 2023 to 35% of the population.
Discussions are underway to potentially monetize de novo centers and mitigate losses, focusing on shifting traditional fee-for-service contracts to value-based care agreements in the MSO.
CareMax ended 2023 with over 75,000 MA members, exceeding their membership target of 111,500 Medicare Advantage members for 2022.
Anticipated structural changes, ongoing growth in membership, and active strategic discussions to maximize asset value all point to 2025 as a potential positive inflection point in revenue and adjusted EBITDA.
正在進行的全公司變革旨在優化成本結構、績效、盈利能力和探索戰略選擇。
CareMax連續三年獲得5星質量評級，並預計，由於醫療管理舉措，2024年的醫療費用增長將比2023年放緩。
Medicare Advantage細分市場從2023年的15％大幅增長到人口的35％。
目前正在討論如何通過新醫療中心獲利並減輕損失，重點是將傳統的收費服務合同轉變爲MSO中基於價值的醫療協議。
CareMax在2023年底擁有超過7.5萬名併購會員，超過了其2022年111,500名Medicare Advantage會員的目標。
預期的結構性變化、成員人數的持續增長以及旨在實現資產價值最大化的積極戰略討論都表明，2025年是收入和調整後息稅折舊攤銷前利潤的潛在積極轉折點。
More details: CareMax IR
更多詳情： CareMax 紅外線
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