Financial Data and Key Metrics Changes - The adjusted EBITDA for the quarter was approximately $15 million below internal forecasts, primarily due to practice-level operating expenses and soft patient volumes [3][34] - The full-year adjusted EBITDA outlook has been updated to a range of $200 million to $210 million, reflecting expectations for similar contributions in the fourth quarter as reported in the third quarter [4] Business Line Data and Key Metrics Changes - Year-over-year expense growth at the practice level was evenly split between salaries and incentive compensation, with underlying salary growth accelerating by roughly 100 basis points compared to the second quarter [54] Market Data and Key Metrics Changes - Same-unit pricing growth reflected year-over-year recovery in revenue collection rates and payor mix against a challenging quarter in 2022 [27] Company Strategy and Development Direction - The company plans to make structural changes in ambulatory practices to enhance earnings potential, addressing variances in financial performance across individual practices [22] - A decision has been made to transition to a new vendor for revenue cycle management services, aiming to combine internal teams with external efficiencies [24][60] - The focus will be on capital allocation priorities to build on core services, positioning the company favorably in the physician service industry [38] Management's Comments on Operating Environment and Future Outlook - Management acknowledged disappointing results due to soft patient volumes and persistent cost inflation, emphasizing the belief that current operating results do not reflect the company's full earnings potential [34] - The company is committed to addressing cost trends and making necessary changes to service line footprints to stabilize gross margins [36] Other Important Information - The company generated over $81 million in operating cash flow and repaid $40 million in revolver borrowings during the third quarter, ending the period with $21 million in cash [28] Q&A Session Summary Question: How are you addressing practice-level expenses? - Management is exploring levers such as adjusting clinician wage rates and seeking subsidies from hospitals to manage practice-level expenses [29][44] Question: What are the learnings from the previous RCM transition? - The management highlighted the importance of a hybrid model, combining internal teams for front-end functions with external vendors for back-end efficiencies [60] Question: What drove the headwind in non-same-store revenue? - The company noted that the review of the portfolio and footprint contributed to the net negative in non-same-unit revenue [62]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 1301 Concord Terrace Sunrise, Florida 33323 (Address of principal executive offices) (Zip Code) ☒ 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 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12111 Pediatrix Medical ...

Financial Data and Key Metrics Changes - The company reported strong pricing, reflecting improvements in revenue cycle operations, with net accounts receivable days decreasing to 49 from 51 in the previous quarter [21][5] - General and administrative expenses declined by approximately 5% year-over-year, maintaining efficiencies against revenue growth [6] - The company generated strong cash flow, allowing for the repayment of roughly $75 million in borrowings, with total debt at $675 million and a net leverage of 3x based on trailing 12 adjusted EBITDA [26][27] Business Line Data and Key Metrics Changes - Patient volume trends decelerated but remained stable to positive, with NICU days increasing year-over-year, offset by softer volumes in pediatric ICU and pediatric floor [20][19] - The company is expanding its urgent care platform, opening new clinics in Houston and Denver, and rebranding acquired clinics under the Pediatrix name [9][10] Market Data and Key Metrics Changes - The payer mix remained stable year-over-year, contributing to the overall financial stability of the company [5] - The company has seen a reduction in days sales outstanding (DSO) by nine days over the past 12 months, indicating improved collections [32] Company Strategy and Development Direction - The company is focused on improving accounts receivable collections and expanding relationships with existing hospital partners while also seeking new partnerships [7][8] - There are plans to commit capital to acquisitions in the second half of the year, focusing on core service lines [10] Management's Comments on Operating Environment and Future Outlook - Management anticipates seasonal increases in patient volumes as the school year begins, following a return to normal summer seasonality [20] - The company is optimistic about its ability to generate sufficient cash flow to repay all revolver borrowings during the third quarter and build a cash position thereafter [27] Other Important Information - The company has not completed any acquisitions year-to-date but sees opportunities in the market [10] - The success rate in arbitration continues to lead industry averages, with a noted improvement in in-network payer agreements [11] Q&A Session Summary Question: Can you help us bridge the EBITDA margins from 2Q into the back half year? - Management explained that same-store rate growth accounted for about $12.5 million, while compensation and benefits increased by about $23 million, indicating a complex relationship between rate growth and compensation [31] Question: Is the decrease in DSO all due to revenue cycle management improvements? - Management confirmed that the majority of the DSO decrease is associated with improved collections, with further improvements anticipated [32] Question: How do you view the opportunity to adjust incentive compensation costs? - Management noted that incentive plans are contractual and discussions are ongoing to ensure competitiveness in compensation across practices [36][37] Question: What is the outlook for normalized cash generation? - Management indicated that cash flow has been variable but expects to eliminate borrowing by the third quarter and build free cash flow towards the end of the year [38] Question: Can you discuss the impact of inflationary pressures on rate increases? - Management acknowledged that while inflationary pressures exist, there are counterbalancing factors that restrict the ability to fully pass through these costs to payers [67]

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 June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12111 Pediatrix Medical Group, Inc. (Exact name of registrant as specified in its charter) Florida 26-3667538 (State or other ...

Pediatrix Medical Group, Inc. (NYSE:MD) Q1 2023 Earnings Conference Call May 2, 2023 9:00 AM ET Company Participants Charles Lynch - SVP, Finance and Strategy Jim Swift - CEO Marc Richards - CFO Conference Call Participants Kevin Fischbeck - Bank of America Taji Phillips - Jefferies Jack Senft - William Blair A.J. Rice - Credit Suisse Kieran Ryan - Deutsche Bank Whit Mayo - SVB Securities Operator Ladies and gentlemen, thank you for standing by. Welcome to the First Quarter 2023 Earnings Conference Call. [O ...

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 March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-12111 Pediatrix Medical Group, Inc. (Exact name of registrant as specified in its charter) Florida 26-3667538 (State or othe ...

Pediatrix Medical Group, Inc. (NYSE:MD) Q4 2022 Earnings Conference Call February 17, 2023 9:00 AM ET Company Participants Charles Lynch ??? Senior Vice President, Finance and Strategy Mark Ordan ??? Executive Chair Jim Swift ??? Chief Executive Officer Marc Richards ??? Chief Financial Officer Conference Call Participants Jack Senft ??? William Blair AJ Rice ??? Credit Suisse Pito Chickering ??? Deutsche Bank Whit Mayo ??? SVB Securities Kevin Fischbeck ??? Bank of America Rishi Parekh ??? JPMorgan Tao Qi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period from to Registrant's telephone number, including area code (954) 384-0175 Securities registered pursuant to Section 12(b) of the Act: | Title of Each Class | Trading Symbol | Name of Each Excha ...

Pediatrix Medical Group, Inc. (NYSE:MD) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Corporate Participants Charles Lynch - Investor Relations Mark Ordan - Chief Executive Officer Marc Richards - Chief Financial Officer James Swift - Chief Operating Officer Conference Call Participants Pito Chickering - Deutsche Bank Whit Mayo - SVB Securities Tao Qiu - Stifel Kevin Fischbeck - Bank of America Brian Tanquilut - Jefferies AJ Rice - Credit Suisse Operator Ladies and gentlemen, thank you for st ...

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, 2022 Commission File Number: 001-12111 Pediatrix Medical Group, Inc. (Exact name of registrant as specified in its charter) Florida 26-3667538 (State or other jurisdiction of Incorporation or organization) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...