CareMax, Inc. (NASDAQ:CMAX) Q4 2022 Earnings Call Transcript

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And then finally, how quickly we can make an impact into moving memberships from partial risk to full risk arrangements. And as I mentioned earlier, the majority of our contracts are negotiated with an 18 to 24-month glide path to risk meaning we have that time. But we can also elect to go into risk at our discretion earlier. So, there is some wiggle room for favourability, both on the earnings and the revenue if we’re able to execute sooner than then once expected. So those are really the metrics that we’re looking at. And we’ve deployed a lot of folks, we brought in 67 new full-time employees, just a focus that are dedicated on the Steward integration. So, making sure that we have the right amount of folks on the ground, working with provider to provider physician to physician identifying those physician leaders.

So, a lot of work has been done, and a lot more work to be done. But we’re really excited that, everything seems to be ahead of schedule right now.

Brian Tanquilut: I appreciate that. And then, in your prepared remarks, you guys talked about expansions in new markets, the New York obviously and Memphis among others. Maybe if you can share with us, what you the learning and the portability of the model into markets outside of Florida. Just anything you can share with us. If there’s a what those clinics look like today and how they’re performing? Thanks.

Carlos de Solo: Yeah, again, we’re exceeding expectations as well. New York, we’re already over 1000 patients, we have seven medical centers. And we’re really excited. I mean, it’s just such a huge opportunity. There really isn’t any density with true value-based care delivery systems like ours. So, I think the opportunity there is huge and you don’t have to deal with the same competition that you have in Florida. So arguably a lot easier in a lot of ways and the ability then to impact patient behavior, which we’re doing successfully, as well as is really where we were putting most of our attention and focus and really educating the communities. And the physicians on how to practice in a value-based care environment to really create those better outcomes that we’ve been so successful here in Florida, but we’re really encouraged by what we’ve seen in New York and in Memphis as well.

And we think it in many ways, the portability of it is actually going to be easier, outside of Florida.

Operator: And there are no further questions at this time. So, I will now turn the call back to Carlos de Solo for closing remarks.

Carlos de Solo: So, I’d like to thank you all for joining the call today and for your continued support. We’re excited for the year ahead as we execute on our strategy and work to realize the significant benefits of the Steward acquisition. We believe we will drive sustainable long-term growth and increased value for our shareholders and stakeholders. And we look forward to seeing you all on Monday at our investor day in Miami. Thanks again. Have a great day.

Operator: And ladies and gentlemen, this concludes today’s conference call and we thank you for your participation. You may now disconnect.

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