Enhabit(EHAB)
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Enhabit(EHAB) - 2023 Q4 - Annual Results
2024-03-05 16:00
Exhibit 99.1 Enhabit Reports Fourth Quarter Results and Issues Full-Year 2024 Guidance Company to host a conference call tomorrow, March 7, 2024, at 10 A.M. EST DALLAS, TX – March 6, 2024 – Enhabit, Inc. (NYSE: EHAB), a leading home health and hospice care provider, today reported its results of operations for the fourth quarter ended December 31, 2023. "Persistent focus on our Company's strategies drove our positive fourth quarter results," said Enhabit's President and Chief Executive Officer Barb Jacobsme ...
Enhabit(EHAB) - 2023 Q3 - Quarterly Report
2023-11-13 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-41406 ___________________ Enhabit, Inc. (Exact name of registrant as specified in its charter) | 47-2409192 | | --- | | Delaware | (State or other j ...
Enhabit(EHAB) - 2023 Q3 - Earnings Call Transcript
2023-11-11 17:01
Enhabit, Inc. (NYSE:EHAB) Q3 2023 Results Conference Call November 8, 2023 10:00 AM ET Company Participants Jordan Loyd - Mergers & Acquisitions Director, Corporate Development Barb Jacobsmeyer - President and Chief Executive Officer Crissy Carlisle - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies Joanna Gajuk - Bank of America Whit Mayo - Leerink Partners Jamie Perse - Goldman Sachs Operator Good morning, everyone, and welcome to Enhabit Home Health & Hospice's Third Quart ...
Enhabit(EHAB) - 2023 Q2 - Quarterly Report
2023-08-13 16:00
Washington, D.C. 20549 ___________________ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-41406 ___________________ Enhabit, Inc. (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION | Delaware | | --- | (State or other jurisdiction of incor ...
Enhabit(EHAB) - 2023 Q2 - Earnings Call Transcript
2023-08-12 04:04
Enhabit, Inc. (NYSE:EHAB) Q2 2023 Earnings Conference Call August 10, 2023 9:00 AM ET Company Participants Jordan Loyd - Mergers & Acquisitions Director, Corporate Development Barb Jacobsmeyer - President and Chief Executive Officer Crissy Carlisle - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies A.J. Rice - Credit Suisse Whit Mayo - Leerink Partners Jason Cassorla - Citigroup Joanna Gajuk - Bank of America Jamie Perse - Goldman Sachs Andrew Mok - UBS Financial Operator Goo ...
Enhabit(EHAB) - 2023 Q1 - Earnings Call Presentation
2023-05-15 10:57
Home health net service revenue $215.8 $224.9 (4.0) % Adjusted EBITDA $25.3 $47.0 (46.2) % | --- | --- | --- | --- | |------------------------------------------------------------------------------|-------|--------|----------------| | | | | | | Adjusted EBITDA margin 9.5 % 17.1 % | | | | | Reported EPS $0.05 | | | $0.53 (90.5) % | | Adjusted EPS (see calculations on slides 28 and 29) | $0.09 | | $0.56 (83.9) % | | In arriving at Adjusted EBITDA, the following were excluded: | | | | | Unusual or nonrecurring ...
Enhabit(EHAB) - 2023 Q1 - Earnings Call Transcript
2023-05-15 10:50
Enhabit, Inc. (NYSE:EHAB) Q1 2023 Earnings Conference Call May 10, 2023 10:00 AM ET Company Participants Mark Brewer - Investor Relations Barb Jacobsmeyer - President and Chief Executive Officer Crissy Carlisle - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies A.J. Rice - Credit Suisse Jamie Perse - Goldman Sachs Jason Cassorla - Citigroup Joanna Gajuk - Bank of America Andrew Mok - UBS Financial Operator Good morning, everyone and welcome to Enhabit Home Health & Hospice’s ...
Enhabit(EHAB) - 2023 Q1 - Quarterly Report
2023-05-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________ FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-41406 ___________________ Enhabit, Inc. (Exact name of registrant as specified in its charter) | 47-2409192 | | --- | | Delaware | (State or other juris ...
Enhabit(EHAB) - 2022 Q4 - Annual Report
2023-04-13 16:00
Financial Performance - The average cost per visit for the home health segment was $89 in 2022, compared to $83 in 2021, and $84 in 2020, which is 10.9% lower than the public peer average of $100[26]. - The company has a 30-day hospital readmission rate of 14.2%, which is 400 basis points lower than the national average of 18.2%[47]. - In 2022, Medicare and Medicare Advantage revenues accounted for 92.6% of total net service revenue, with Medicare representing 78.4% and Medicare Advantage 14.2%[71]. - The company recognized net service revenue based on estimates of transaction prices, including adjustments for contractual allowances and uncollectible amounts[321]. - The company adjusted reserves for the year ended December 31, 2022, due to a slowing rate of collections influenced by a shift in third-party payor mix[324]. - As of December 31, 2022, total accounts receivable amounted to $150.5 million, a decrease from $170.6 million in 2021, representing a decline of approximately 11.9%[327]. - Current accounts receivable decreased to $149.6 million in 2022 from $164.5 million in 2021, reflecting a reduction of about 9.0%[327]. - The amount of patient accounts receivable representing denials under review or audit was $2.5 million in 2022 compared to $8.9 million in 2021 for the home health segment, indicating a significant decrease of approximately 71.9%[327]. - An impairment charge of $109.0 million was recorded in the three months ended December 31, 2022, due to a decrease in the carrying value of the home health reporting unit[334]. - The fair value of the hospice reporting unit exceeded its carrying value by less than 15% as of December 31, 2022, with an allocated goodwill balance of $303.6 million[334]. - A 50 basis point increase in the discount rate assumption would lead to a decrease in the fair value of the Home Health and Hospice reporting units by approximately $38 million and $15 million, respectively[335]. - The company did not have a valuation allowance recorded against any of its deferred tax assets as of December 31, 2022 and 2021[341]. - The company identified potential impairment triggering events in the fourth quarter of 2022, including lower than expected operating results and a change in acquisition strategy[334]. - The fair value of the home health reporting unit exceeded its carrying value by less than 5% as of September 30, 2022[332]. - The company utilizes both the income approach and market approach to estimate the fair value of its reporting units during impairment testing[334]. Market Trends and Growth Opportunities - The home health expenditures are projected to grow from approximately $125.2 billion in 2021 to $226.4 billion by 2030, representing a 6.8% compound annual growth rate[29]. - The total number of Medicare beneficiaries choosing Medicare Advantage is expected to grow to 61% by 2032, presenting a significant growth opportunity for the company[55]. - The company holds a leading position in home health services, representing approximately 69% of total home health Medicare revenues in 2020, indicating strong organic growth potential[50]. - The growth strategy includes organic growth, new location openings, strategic acquisitions, and expanding Medicare Advantage offerings[49]. Operational Insights - Since 2015, the company has deployed over $796 million in capital for 41 home health and hospice acquisitions and opened 33 de novo locations across 16 states[26]. - Since 2015, the company has opened 33 de novo locations across 16 states, including 18 home health and 15 hospice locations, to complement organic growth[51]. - The company's home health business had 202,495 patient admissions for the year ended December 31, 2022, operating 252 home health agencies in 34 states[56]. - The hospice business had an average daily census of 3,519 hospice patients for the year ended December 31, 2022, operating 105 hospice agencies in 23 states[61]. - Approximately 40% of home health patient admissions were from physician offices or community referral sources, while 60% were from facility-based sources[57]. - The company has a proven history of integrating acquisitions, demonstrated by consistent growth in EBITDA of acquired businesses following acquisition[53]. - The company is reorganizing its home health and hospice organizations to improve alignment between business development and operations, enhancing referral development[66]. Regulatory Environment - The company is subject to audits that may lead to adjustments in Medicare and Medicaid reimbursements, impacting financial results[82]. - The federal False Claims Act imposes penalties of up to $27,000 per false claim, with potential treble damages for overpayments[109]. - The Improving Medicare Post-Acute Care Transformation Act requires standardized patient assessment data reporting, with penalties for non-compliance including a 2% reduction in market basket prices[124]. - The Home Health Review Choice Demonstration was initiated to test pre-claim review effectiveness in reducing Medicare fraud and expenditures[127]. - The company must navigate complex regulations that affect reimbursement rates and operational licenses, impacting growth strategies[104]. - The Anti-Kickback Law prohibits remuneration to induce patient referrals, with violations leading to significant penalties and exclusion from Medicare[111]. - The Stark Law restricts physician referrals for designated health services to entities with which they have a financial relationship, with penalties for violations[113]. - The company has developed a compliance program overseen by the Compliance/Quality of Care Committee to meet regulatory and legal requirements[104]. Employee and Organizational Development - The company employed approximately 11,000 individuals as of December 31, 2022, with no labor union representation[132]. - Employee development programs include tuition reimbursement and scholarship opportunities, with a 20% to 50% reduction in tuition costs for academic advancement[142]. - The company maintains a strong focus on diversity, equity, inclusion, and belonging, recognized as a 'Top 100 Best Place to Work for Women and for Diversity' in 2019[133]. Financial Obligations and Capital Expenditures - Total contractual obligations as of December 31, 2022, amounted to $729 million, with long-term debt obligations of $390 million[314]. - Capital expenditures for 2022 were $7.1 million, with expectations of $5 million to $10 million for 2023[316]. Technology and Innovation - The information management system provides real-time market intelligence to the sales team, enhancing referral source identification[142]. - The company has invested in technology to improve patient care and operational efficiencies, including an electronic medical records system[140].
Enhabit(EHAB) - 2022 Q4 - Earnings Call Transcript
2023-02-15 19:23
Enhabit, Inc. (NYSE:EHAB) Q4 2022 Earnings Conference Call February 15, 2023 10:00 AM ET Company Participants Mark Brewer - Chief Investor Relations Officer Barb Jacobsmeyer - President and Chief Executive Officer Crissy Carlisle - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies Tao Qiu Key - Stifel A.J. Rice - Credit Suisse Jason Cassorla - Citi Andrew Mok - UBS Joanna Gajuk - Bank of America Larry Solow - CJS Securities Operator Good morning, everyone and welcome to Enhabi ...