PDF Annual Report 2020 While it is impossible to identify all such factors, factors which could cause actual events or results to differ materially from those estimated by Encompass Health include, but are not limited to, an infectious disease outbreak, including the speed, depth, geographic reach and duration of its spread, which could decrease our patient volumes and revenues and lead to staffing and supply shortages and associated cost increases; the legal, regulatory and administrative developments that occur at the federal, state and local levels; Encompass Health's infectious disease prevention and control efforts; the demand for Encompass Health's services, including based on any downturns in the economy, consumer confidence, or the capital markets; the price of Encompass Health's common stock as it affects Encompass Health's willingness and ability to repurchase shares and the financial and accounting effects of any repurchases; any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings involving Encompass Health, including any matters related to yet undiscovered issues, if any, in acquired operations; Encompass Health's ability to attract and retain key management personnel; any adverse effects on Encompass Health's stock price resulting from the integration of acquired operations; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of Encompass Health's or its vendors' or partners' information systems, including unauthorized access to or theft of patient, business associate, or other sensitive information or inability to provide patient care because of system unavailability as well as unforeseen issues, if any, related to integration of acquired systems; the ability to successfully integrate acquired operations, including realization of anticipated tax benefits, revenues, and cost savings, minimizing the negative impact on margins arising from the changes in staffing and other operating practices, and avoidance of unforeseen exposure to liabilities; Encompass Health's ability to successfully complete and integrate de novo developments, acquisitions, investments, and joint ventures consistent with its growth strategy; Encompass Health's ability to realize construction cost savings from prefabrication of hospitals; increases in Medicare audit activity, including increased use of sampling and extrapolation, resulting in additional unpaid reimbursement claims and an increase in the backlog of appealed claims denials; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for Encompass Health's services by governmental or private payors; changes in the regulation of the healthcare industry at either or both of the federal and state levels, including as part of national healthcare reform and deficit reduction and Encompass Health's ability to adapt operations to those changes, including in connection with the CMS inpatient rehabilitation review choice demonstration project; competitive pressures in the healthcare industry and Encompass Health's response thereto; Encompass Health's ability to obtain and retain favorable arrangements with third-party payors; Encompass Health's ability to control costs, particularly labor and employee benefit costs, including group medical expenses; adverse effects resulting from coverage determinations made by Medicare Administrative Contractors regarding its Medicare reimbursement claims and lengthening delays in Encompass Health's ability to recover improperly denied claims through the administrative appeals process on a timely basis; Encompass Health's ability to adapt to changes in the healthcare delivery system, including value-based purchasing and involvement in coordinated care initiatives or programs that may arise with its referral sources; Encompass Health's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages, which may be worsened by infectious disease outbreaks, and the impact on Encompass Health's labor expenses from potential union activity, staffing shortages, and competitive compensation practices; general conditions in the economy and capital markets, including any instability or uncertainty related to armed conflict or an act of terrorism, governmental impasse over approval of the United States federal budget, an increase in the debt ceiling, or an international sovereign debt crisis; the increase in the cost of, or the decrease in the availability of, necessary supplies, such as personal protective equipment; the increase in the costs of defending and insuring against alleged professional liability claims, and Encompass Health's ability to predict the estimated costs related to such claims; and other factors which may be identified from time to time in Encompass Health's SEC filings and other public announcements, including Encompass Health's Form10 "Our teams are doing an extraordinary job in managing through the COVID-19 pandemic," said President and Chief Executive Officer of Encompass Health Mark Tarr. * Adjusted EPS may not sum due to rounding. "We are very pleased with our second quarter performance," said President and Chief Executive Officer of Encompass Health Mark Tarr. Revenue per episode was negatively impacted by the implementation of the Patient Driven Groupings Model ("PDGM"), the effects of which were exacerbated by the COVID-19 pandemic. Explore our 2022 DEI Annual Report In October 2020, the Company declared a quarterly cash dividend of $0.28 per share on its common stock to be paid in January 2021. Statements contained in this press release and the supplemental information which are not historical facts, such as those relating to the business model, strategy, outlook and guidance, dividend strategies, effective income tax rates, labor cost trends, legislative and regulatory developments or their impacts, financial guidance, ability to return value to shareholders, projected capital expenditures, acquisition opportunities, development projects, other balance sheet and cash flow plans, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Encompass Health - Investor Resources - Company overview Fourth quarter 2015. Encompass Health is ranked as one of Fortune's 100 Best Companies to Work For. With a national footprint that includes 150+ hospitals in 36 states and Puerto Rico, the Company provides high-quality, compassionate rehabilitative care for patients recovering from a major injury or illness, using advanced technology and innovative treatments to maximize recovery. While it is impossible to identify all such factors, factors which could cause actual events or results to differ materially from those estimated by Encompass Health include, but are not limited to, the continued spread of COVID-19, including the speed, depth, geographic reach and duration of the spread, which could decrease our patient volumes and revenues and lead to staffing and supply shortages and associated cost increases; actions to be taken by the Company in response to the pandemic; the legal, regulatory and administrative developments that occur at the federal, state and local levels; the Company's infectious disease prevention and control efforts; the demand for the Company's services, including based on any downturns in the economy, consumer confidence, or the capital markets and unemployment among family members; the price of Encompass Health's common stock as it affects the Company's willingness and ability to repurchase shares and the financial and accounting effects of any repurchases; any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings involving Encompass Health, including any matters related to yet undiscovered issues, if any, in acquired operations; Encompass Health's ability to attract and retain key management personnel; any adverse effects on Encompass Health's stock price resulting from the integration of acquired operations; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of Encompass Health's or its vendors' information systems, including unauthorized access to or theft of patient, business associate, or other sensitive information or inability to provide patient care because of system unavailability as well as unforeseen issues, if any, related to integration of acquired systems; the ability to successfully integrate acquired operations, including realization of anticipated tax benefits, revenues, and cost savings, minimizing the negative impact on margins arising from the changes in staffing and other operating practices, and avoidance of unforeseen exposure to liabilities; Encompass Health's ability to successfully complete and integrate de novo developments, acquisitions, investments, and joint ventures consistent with its growth strategy; increases in Medicare audit activity, including increased use of sampling and extrapolation, resulting in additional unpaid reimbursement claims and an increase in the backlog of appealed claims denials; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for Encompass Health's services by governmental or private payors; changes in the regulation of the healthcare industry at either or both of the federal and state levels, including as part of national healthcare reform and deficit reduction (such as the Patient-Driven Groupings Model for home health, the new patient assessment measures, referred to as "Section GG functional measures," for inpatient rehabilitation, and other payment system reforms) and Encompass Health's ability to adapt operations to those changes; competitive pressures in the healthcare industry and Encompass Health's response thereto; Encompass Health's ability to obtain and retain favorable arrangements with third-party payors; Encompass Health's ability to control costs, particularly labor and employee benefit costs, including group medical expenses; adverse effects resulting from coverage determinations made by Medicare Administrative Contractors regarding its Medicare reimbursement claims and lengthening delays in Encompass Health's ability to recover improperly denied claims through the administrative appeals process on a timely basis; Encompass Health's ability to adapt to changes in the healthcare delivery system, including value-based purchasing and involvement in coordinated care initiatives or programs that may arise with its referral sources; Encompass Health's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages, which may be worsened by the pandemic, and the impact on Encompass Health's labor expenses from potential union activity and staffing shortages; general conditions in the economy and capital markets, including any instability or uncertainty related to armed conflict or an act of terrorism, governmental impasse over approval of the United States federal budget, an increase in the debt ceiling, or an international sovereign debt crisis; the increase in the costs of defending and insuring against alleged professional liability claims, including claims associated with patient and employee exposures to COVID-19, and Encompass Health's ability to predict the estimated costs related to such claims; and other factors which may be identified from time to time in Encompass Health's SEC filings and other public announcements, including Encompass Health's Form10K for the year ended December31, 2019 and Form10-Q for the quarters ended March 31, 2020, June 30, 2020, and September30, 2020, when filed. For the three months ended September30, 2021, net cash used in investing activities was $124.0 million and primarily resulted from capital expenditures. Encompass Health Corporation, based in Birmingham, Alabama, is one of the United States' largest providers of post-acute healthcare services, offering both facility-based and home-based post-acute services in 36 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies, and hospice agencies. Supplemental Information Total discharge growth for the second quarter of 2023 was 9.8% including same-store growth of 6.2%. | Encompass Health Watch on "Strong discharge growth of 9.8% combined with year-over-year improvement in labor costs to drive Adjusted EBITDA growth of 27.1%. For reference during the call, the Company will post certain supplemental information at http://investor.encompasshealth.com. The hospital, located at 101 Fort Sanders West Blvd., serves patients recovering from debilitating illnesses and injuries including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. In addition, Encompass Health, through its senior management, may from time to time make forward-looking public statements concerning the matters described herein. Includes Ownership Percent, Buy versus Sell comparison, Put-Call ratio and more, Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports, Consolidated Balance Sheets (Parenthetical), Consolidated Statements Of Comprehensive Income, Consolidated Statements Of Shareholders' Equity, Consolidated Statements Of Shareholders' Equity (Parenthetical), Accounts Receivable - Components Of Accounts Receivable (Details), Business Combinations - Fair Value Of Assets And Liabilities Assumed (Details), Business Combinations - Net Cash Paid For Acquisition (Details), Business Combinations - Pro Forma Results Of Operation (Details), Business Combinations - Textual (Details), Cash And Marketable Securities - Components Of Investments (Details), Cash And Marketable Securities - Investing Information Related To Marketable Securities (Details), Cash And Marketable Securities - Restricted Cash (Details), Cash And Marketable Securities - Textual (Details), Contingencies And Other Commitments (Details), Earnings Per Common Share - Computation Of Basic And Diluted Earnings Per Common Share (Details), Earnings Per Common Share - Reconciliation Between Basic And Diluted Weighted-Average Common Shares Outstanding (Details), Earnings Per Common Share - Textual (Details), Fair Value Measurements - Carrying Amounts And Estimated Fair Values Of Financial Instruments (Details), Fair Value Measurements - Financial Assets And Liabilities Measured On A Recurring Basis (Details), Goodwill And Other Intangible Assets (Tables), Goodwill And Other Intangible Assets - Amortization Expense (Details), Goodwill And Other Intangible Assets - Carrying Amounts Of Goodwill (Details), Goodwill And Other Intangible Assets - Estimated Future Amortization Expense (Details), Goodwill And Other Intangible Assets - Other Intangible Assets (Details), Goodwill And Other Intangible Assets - Textuals (Details), Income Taxes - Components Of Provision For Income Tax Expense (Details), Income Taxes - Deferred Tax Asset And Liabilities (Details), Income Taxes - Reconciliation Of Effective Income Tax Rate (Details), Leases - Components Of Lease Costs (Details), Leases - Maturities Of Lease Liabilities (Details), Leases - Schedule Of Supplemental Balance Sheet Information Related To Leases (Details), Leases - Schedule Of Weighted Average Remaining Lease Term And Discount Rate (Details), Leases - Supplemental Cash Flow Information (Details), Long-Term Debt - Financial Covenants (Details), Long-Term Debt - Long-Term Debt Outstanding (Details), Long-Term Debt - Schedule Of Notes Payable (Details), Long-Term Debt - Scheduled Principal Payments Due On Long-Term Debt (Details), Long-Term Debt - Senior Notes Redemption Prices (Details), Property And Equipment - Components Of Property And Equipment (Details), Property And Equipment - Depreciation, Capitalized Interest Expense (Details), Property And Equipment - Textual (Details), Quarterly Data (Unaudited) - Schedule Of Quarterly Data (Details), Redeemable Noncontrolling Interests (Tables), Redeemable Noncontrolling Interests - Reconciliation Of Noncontrolling Interests (Details), Redeemable Noncontrolling Interests - Redeemable Noncontrolling Interests Activity (Details), Redeemable Noncontrolling Interests - Textual (Details), Self-Insured Risks - Changes In Self-Insurance Reserves (Details), Share-Based Payments - Stock Option Activity (Details), Share-Based Payments - Summary Of Restricted Stock Awards (Details), Share-Based Payments - Weighted-Average Assumptions (Details), Spin Off Of Home Health And Hospice Business, Spin Off Of Home Health And Hospice Business (Tables), Spin Off Of Home Health And Hospice Business - Textual (Details), Spin Off Of Home Health And Hospice Business- Summary Of Financial Information Related To Discontinued Operations (Details), Summary Of Significant Accounting Policies, Summary Of Significant Accounting Policies (Policies), Summary Of Significant Accounting Policies (Tables), Summary Of Significant Accounting Policies - Accounts Receivable (Details), Summary Of Significant Accounting Policies - Intangible Asset Useful Lives (Details), Summary Of Significant Accounting Policies - Net Operating Revenues (Details), Summary Of Significant Accounting Policies - Pp&Amp;E Useful Lives (Details), Summary Of Significant Accounting Policies - Textual (Details), Variable Interest Entities - Carrying Amounts And Classification Of Consolidated Vies (Details), Variable Interest Entities - Textuals (Details), Exhibit 21.1: Subsidaries Of The Registrant, Exhibit 22.1: Published Report Regarding Matters Submitted To Vote Of Security Holders, Exhibit 23.1: Consents Of Experts And Counsel, Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification, Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification, https://last10k.com/sec-filings/ehc/0000785161-23-000012.htm.
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