MultiPlan Corporation (NYSE:MPLN) Q3 2022 Earnings Conference Call November 8, 2022 8:00 AM ET

Company Participants

Shawna Gasik - AVP, IR

Dale White - CEO

Jim Head - CFO

Conference Call Participants

Joshua Raskin - Nephron Research LLC

Daniel Grosslight - Citigroup

Cindy Motz - Goldman Sachs

Steven Valiquette - Barclays

Rishi Parekh - JPMorgan

Operator

Hello, everyone, and thank you for joining the MultiPlan Corporation Third Quarter 2022 Earnings Conference. My name is Darius and I'll be the operator for today. Before handing over to your host, Shawna Gasik, [Operator Instructions]

I now have the pleasure of handing you over to your host, Shawna Gasik, AVP, Investor Relations. Please go ahead.

Shawna Gasik

Thank you. Good morning and welcome to Multiplan's third quarter 2022 earnings call. Joining me today is Dale White, Chief Executive Officer; and Jim Head, Chief Financial Officer. The call is being webcast and can be accessed through the Investor Relations section of our website at www.multiplan.com.

During our call, we will refer to the supplemental slide deck that is available on the Investor Relations portion of its website along with the third quarter 2022 earnings press release issued earlier this morning. Before we begin, a couple of reminders. Our remarks and responses to questions today may include forward-looking statements. These forward-looking statements represent management's beliefs and expectations only as of the date of this call. Actual results may differ materially from those forward-looking statements due to a number of risks. A summary of these risks can be found on the second page of the supplemental slide deck and a more complete description on our annual report on Form 10-K and other documents we file with the SEC.

We will also be referring to several non-GAAP measures, which we believe provide investors with a more complete understanding of Multiplan's underlying operating results. An explanation of these non-GAAP measures and reconciliations to the most comparable GAAP measure can be found in the earnings press release and supplemental slide deck.

With that, I would now like to turn the call over to our Chief Executive Officer, Dale White. Dale?

Dale White

Thank you, Shawna. Good morning, everyone, and welcome to the call.

By now, many of you have had an opportunity to review our third quarter results. I'll say at the outset that these results were disappointing, and while the predominant driver of the shortfall was the decline in patient utilization of healthcare services, I would be remiss if I didn't acknowledge our results but nevertheless fell short of our third quarter expectations.