MultiPlan Corporation (NYSE:MPLN) Q4 2022 Earnings Call Transcript

Jim Head: Yes. Good to hear your voice, Rishi, and albeit with the New Jersey. And just to answer your contract question, the second — the contract that we alluded to, we signed in the fourth quarter, the rates go into effect at the beginning of the year. The additional customer will be, as we said, will be signed in the first half. So what we’ve done is amalgamated the entirety of all of those into one adjustment that reflects the entirety of the year. And I think it’s a good basis for you to understand the impact of all that in totality.

Dale White: And it’s included — all of that — all the expected impact of our renewals with these larger customers is baked into, it’s already included in our revenue guidance that we gave to you.

Jim Head: You want to talk about utilization?

Dale White: Utilization, I think you asked a question about the softness in utilization. As I’ve said, we — look, we’re predicting only a modest uptick in recovery as Jim said, you can look at the leading indicators and start to see some positive trends in utilization. We’ve seen considerable softness in the second half of last year around what I’ll call non-emergent procedures. So it’s ambulatory surgery, it’s orthopedics, it’s surgery, it’s PT, OT, it’s a lot of the cyromuscularskeletal procedures. That’s where we see — that’s where we’ve seen a — saw a drop off in procedures and treatment that was done. And again, it’s mostly in that non-emerging area. Our ER and what we call our surprise build procedures is tracking to expectations. It’s right in line with where we expected to be. It’s been very steady, and it’s exactly where we thought it would be.

Operator: We have no further questions on the line. Ladies and gentlemen, this concludes today’s call. Thank you for joining. You may now disconnect your lines.