Select Medical Holdings Corporation (NYSE:SEM) Q4 2022 Earnings Conference Call February 24, 2023 9:00 AM ET
Company Participants
Robert Ortenzio - Executive Chairman and Co-Founder
Martin Jackson - EVP and CFO
Conference Call Participants
Justin Bowers - Deutsche Bank
Ben Hendrix - RBC Capital Markets
Bill Sutherland - Benchmark Company
Miles Highsmith - Deutsche Bank
Operator
Good morning, and thank you for joining us today for Select Medical Holdings Corporation's Earnings Conference Call to discuss the Fourth Quarter 2022 Results and the Company's Business Outlook. Speaking today are the company's Executive Chairman and Co-Founder, Robert Ortenzio; and the company's Executive Vice President and Chief Financial Officer, Martin Jackson. Management will give you an overview of the quarter and then open the call for questions.
Before we get started, we would like to remind you that this conference call may contain forward-looking statements regarding future events or the future financial performance of the company, including, without limitation, statements regarding operating results, growth opportunities and other statements that refer to Select Medical's plans, expectations, strategies, intentions and beliefs. These forward-looking statements are based on the information available to management of Select Medical today and the company assumes no obligation to update these statements as circumstances change.
At this time, I will turn the conference over to Mr. Robert Ortenzio.
Robert Ortenzio
Thank you, operator. Good morning everyone, welcome to Select Medical's earnings call for the fourth quarter 2022.
As I have done in previous calls, I'll first give some overall commentary on the quarter before providing some details on each of our four operating division. After that all turn it over to Martin Jackson, who will provide further detail on our progress throughout Q4 and an outlook on labor cost for Q1 for the Critical Illness Recovery Hospital division.
As most of you are aware and we've discussed in detail throughout 2022, our most significant headwinds has been staffing challenges in our critical illness recovery hospital division. This past quarter, we've seen some encouraging signs and results as we head into 2023. Our critical illness recovery hospital division's salary raises and benefits to revenue ratio improved each month throughout the quarter.
I'm extremely pleased that our combined focus on recruitment, training and retention of personnel has begun to yield positive results. This would not have been possible without all the efforts of our company colleagues during an extremely challenging macro labor environment.