Pediatrix Medical Group, Inc. (NYSE:MD) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET

Corporate Participants

Charles Lynch - Investor Relations

Mark Ordan - Chief Executive Officer

Marc Richards - Chief Financial Officer

Conference Call Participants

Tao Qiu - Stifel

Brian Tanquilut - Jefferies

Kevin Fischbeck - Bank of America

Pito Chickering - Deutsche Bank

Whit Mayo - SVB Securities

Ryan Daniels - William Blair

AJ Rice - Credit Suisse

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Pediatrix Medical Group Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, your call today is being recorded.

I would now turn the conference call over to your host, Charles Lynch. Please go ahead.

Charles Lynch

Thank you, Allen, and good morning, everyone. With me this morning are Mark Ordan, Chief Executive Officer and Marc Richards, our Chief Financial Officer. I will quickly read our disclaimer and then turn the call over to Mark.

Certain statements and information during this conference call may be deemed to be forward-looking statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions and assessments made by Pediatrix' management in light of their experience and assessment of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.

Any forward-looking statements made during this call are made as of today, and Pediatrix undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the company's most recent annual report on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, including the sections entitled Risk Factors.

In today's remarks by management, we will be discussing non-GAAP financial metrics. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measures can be found in this morning's earnings press release, our quarterly reports on Form 10-Q and our annual report on Form 10-K and on our website at www.pediatrix.com.

With that, I'll turn the call over to Mark Ordan.

Mark Ordan

Thanks, Charlie.

I'll comment this morning on three areas; our results for the quarter and how they play into our outlook for the year; our strategy and our name change to the Pediatrix Medical Group. And some thoughts on the No Surprises Act. We had mixed results in Q2. Patient volumes grew both in hospital based and office-based services despite more difficult comps in the second quarter to what we faced in the first quarter. However, our revenue was impacted by both payer mix and our ongoing transition to R1 as our RCM partner.