The following is a summary of the Pediatrix Medical Group, Inc. (MD) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Pediatrix's Q4 outcomes met revised expectations due to increased volumes in office-based maternal field medicine services, offset by lower hospital-based service volumes.

• The company gave a preliminary outlook for 2024 suggesting an adjusted EBITDA ranging from $200 million to $220 million.

• Total G&A expense for 2024 is projected to match the percentage of revenue seen in 2023.

• The company reported a mix of same-unit volumes during Q4, with declining hospital-based volumes balanced by stronger office-based volumes.

• The fourth quarter saw a negative impact on revenue due to a lack of reoccurring income from last year's additional sources, slowing same-unit growth by approximately 2%.

• The company generated $73 million in Q4 operating cash flow, culminating in $146 million of full-year operating cash flow, resulting in a net leverage of just under 2.8x at year's end.

• The company anticipates net revenue for 2024 to be between $2.0 - $2.1 billion, indicating slight growth over 2023.

Business Progress:

• Pediatrix is transitioning to a hybrid Revenue Cycle Management (RCM) model and expanding its internal team.

• The company has increased its network coverage by establishing successful negotiations with two payers in three states where it was previously out of network.

• Efforts to even out financial performance across the organization's practices are ongoing, with strategic plans set in motion for several affiliated practices.

• Two conferences are planned: the 12th annual specialty review at Neonatology and the 45th annual Conference for Neonatology.

• The company expects to see cost improvements at both the practice and corporate level by 2024's second half and envisions a different cost structure in 2025.

• No significant RCM transition disruptions occurred in Q4, with DSO stable compared to Q3, and this stability is expected to persist through 2024.

• The company intends to facilitate strategic acquisitions and practice integrations, aiming for stable volumes and organic growth opportunities in 2024.

More details: Pediatrix Medical IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.