HCA Healthcare, Inc. (NYSE:HCA) Q4 2022 Earnings Call Transcript

Bill Rutherford: Well, in theory, will flow through as reduction of our contract labor. And so the margin, if you will, on the contract labor as we replace an individual from a contractor to an employed one is that we will save that margin. And being able to reinvest and what we have been able to do this year is reinvest back into our employee workforce and that’s part of that turnover level. And I think all of that, John, I would say, is incorporated, if you look at the overall labor spend. So, I mean there is a lot of components into that. And as we said, we think we can maintain our labor cost as a percent of revenue where we are finished this year. It’s a function of reducing those premium labor and reinvesting back into our employee workforce and keeping that relatively flat year-over-year. And I think that’s a good result for us and allows us to continue to recognize the important work our employees do for us.

John Ransom: Thanks a lot.

Bill Rutherford: Thanks John.

Operator: There are no further questions at this time. I will now turn the call over back to Mr. Frank Morgan.

Frank Morgan: Devin, thank you for your help today and thanks to everyone for joining us on this call. We hope you have a great weekend. I am around this afternoon, if I can answer additional questions you might have. Have a great day.

Operator: That concludes today’s conference. Thank you for attending today’s presentation. You may now disconnect.