31 st Annual J.P. Mor gan He althc ar e Confe r e nc e San F r anc isc o|Januar y 9, 2013 Ja y Grinne y, Pre side nt a nd Chie f E xe c utive Offic e r
F or war d- L ooking State me nts T he info rmatio n c o ntaine d in this pre se ntatio n inc lude s c e rtain e stimate s, pro je c tio ns and o the r fo rward- lo o king info rmatio n that re fle c t o ur c urre nt o utlo o k, vie ws and plans with re spe c t to future e ve nts, inc luding le g islative and re g ulato ry de ve lo pme nts, strate g y, c apital e xpe nditure s, de ve lo pme nt ac tivitie s, divide nd strate g ie s, re purc hase o f se c uritie s, e ffe c tive tax rate s, financ ial pe rfo rmanc e , and b usine ss mo de l. T he se e stimate s, pro je c tio ns and o the r fo rward-lo o king info rmatio n are b ase d o n assumptio ns that He althSo uth b e lie ve s, as o f the date he re o f, are re aso nab le . I ne vitab ly, the re will b e diffe re nc e s b e twe e n suc h e stimate s and ac tual e ve nts o r re sults, and tho se diffe re nc e s may b e mate rial. T he re c an b e no assuranc e that any e stimate s, pro je c tio ns o r fo rward-lo o king info rmatio n will b e re alize d. All suc h e stimate s, pr o je c tio ns and fo r war d-lo o king info r matio n spe ak o nly as o f the date he r e o f. He althSo uth unde r take s no duty to public ly update o r r e vise the info r matio n c o ntaine d he r e in. Yo u are c autio ne d no t to plac e undue re lianc e o n the e stimate s, pro je c tio ns and o the r fo rward-lo o king info rmatio n in this pre se ntatio n as the y are b ase d o n c urre nt e xpe c tatio ns and g e ne ral assumptio ns and are sub je c t to vario us risks, unc e rtaintie s and o the r fac to rs, inc luding tho se se t fo rth in the F o rm 10-K fo r the ye ar e nde d De c e mb e r 31, 2011, o ur F o rm 10-Q fo r the q uarte rs e nde d Marc h 31, 2012, June 30, 2012, and Se pte mb e r 30, 2012, and in o the r do c ume nts we pre vio usly file d with the SE C, many o f whic h are b e yo nd o ur c o ntro l, that may c ause ac tual re sults to diffe r mate rially fro m the vie ws, b e lie fs and e stimate s e xpre sse d he re in. No te Re gar ding Pr e se ntatio n o f No n-GAAP F inanc ial Me asur e s T he fo llo wing pre se ntatio n inc lude s c e rtain “no n-GAAP financ ial me asure s” as de fine d in Re g ulatio n G unde r the Se c uritie s E xc hang e Ac t o f 1934. Sc he dule s are attac he d that re c o nc ile the no n-GAAP financ ial me asure s inc lude d in the fo llo wing pre se ntatio n to the mo st dire c tly c o mparab le financ ial me asure s c alc ulate d and pre se nte d in ac c o rdanc e with Ge ne rally Ac c e pte d Ac c o unting Princ iple s in the Unite d State s. Our F o rm 8-K, date d January 7, 2013, to whic h the fo llo wing supple me ntal slide s are attac he d as E xhib it 99.1, pro vide s furthe r e xplanatio n and disc lo sure re g arding o ur use o f no n-GAAP financ ial me asure s and sho uld b e re ad in c o njunc tio n with the se supple me ntal slide s. 2
Inpa tie nt Re ha bilita tion F a c ility (IRF ) Se c tor Ove rvie w Ke y Me tr ic s Ge og ra phic Distribution of IRF s, 2010 2008 2011 All I RF s 1,202 1,165 • Ho spita l-b a se d 981 931 • F re e sta nding 221 234 Me dic a re F e e -fo r-Se rvic e (F F S) $5.93B $6.46B Spe nding No . o f Me dic a re F F S Ca se s 356,000 371,288 IRF Cr ite r ia Pa tie nts must: • − Re q uire a t le a st two type s o f the ra py − T o le ra te a minimum o f 3 ho urs o f the ra py/ d a y − Be a d mitte d b y a physic ia n IRF s must: • − Ha ve a me d ic a l d ire c to r o f re ha b ilita tio n − Sc re e n pa tie nts within 48 ho urs prio r to a d missio n − Ha ve a n inte rd isc iplina ry a ppro a c h − Me e t the 60% c o mplia nc e thre sho ld So urc e s: Me dPAC Re po rt to Co ng re ss, Me dic a re Pa yme nt Po lic y, Ma rc h 2012 – pa g e s 235; Me dPAC Re po rt: Asse ssing pa yme nt a de q ua c y: I npa tie nt re ha b ilita tio n fa c ility se rvic e s, De c e mb e r 7, 2012 3
He a lthSouth is the Na tion’s L e a ding IRF Provide r Por tfolio – As of De c e mbe r 31, 2012 I npa tie nt Re ha b ilita tio n Ho spita ls 100 • 29 o pe ra te a s JV’ s with Ac ute Ca re Ho spita ls Outpa tie nt Re ha b ilita tio n Sa te llite 24 Clinic s 25 Ho spita l-Ba se d Ho me He a lth Ag e nc ie s 27 + Pue rto Ric o Numb e r o f Sta te s ~ 22,700 E mplo ye e s Ke y Statistic s – (T T M as of Se pt. 30, 2012) Ne w Ho spita ls ~ $2.1 Billio n Re ve nue Wa lto n a c q uisitio n in Aug usta , GA; e xpe c t to c lo se Q1 2013 122,225 I npa tie nt Disc ha rg e s Oc a la , F L b e g a n a c c e pting pa tie nts in De c e mb e r 2012 907,105 Outpa tie nt Visits Unde r c o nstruc tio n, Stua rt, F L ; e xpe c t to b e Patie nts Se r ve d o pe ra tio na l Q2 2013 Unde r c o nstruc tio n, L ittle to n, CO; e xpe c t to Most Common Conditions (Q3 2012): b e o pe ra tio na l Q2 2013 1. Ne uro lo g ic a l 21.2% CON a ppro ve d fo r 50-b e d ho spita l in Ma rke tsha re 2. Stro ke 16.1% Orla ndo , F L ; e xpe c t to b e o pe ra tio na l 2 nd 3. Othe r o rtho pe dic c o nditio ns 9.4% ha lf o f 2014 ~ 9% o f IRF 4. F ra c ture o f the lo we r e xtre mity 9.3% s (T o ta l in U.S. = 1,139) CON a ppro ve d fo r 50-b e d ho spita l in Ne wna n, GA 5. De b ility 8.9% ~ 19% o f L ic e nse d Be d s CON a ppro ve d fo r Middle to wn, DE ; b e ing c o nte ste d ~ 21% o f Pa tie nts Se rve d CON a ppro ve d fo r Willia mso n Co , T N; b e ing c o nte ste d 4
Most IRF patie nts have me dic al c onditions assoc iate d with aging; the de mand/ ne e d for inpatie nt r e habilitative se r vic e s is e xpe c te d to gr ow as the Me dic ar e - e ligible population inc r e ase s. Se rvic e s (1) IRF Me dia n Ag e of a He a lthSouth Pa tie nt: All pa tie nts = 72 • I npa tie nt re ha b ilita tio n fa c ilitie s (I RF s) pro vide S = 76 Me dic a r e F F • inte nsive re ha b ilita tio n se rvic e s to pa tie nts a fte r a n injury, illne ss, o r surg e ry. Re ha b ilita tio n pro g ra ms a t I RF s a re supe rvise d b y re ha b ilita tio n physic ia ns a nd Conditions 2011 (1) IRF inc lude se rvic e s suc h a s physic a l a nd o c c upa tio na l 1. Stro ke 19.8% the ra py, re ha b ilita tio n nursing , pro sthe tic a nd 2. F ra c ture o f the lo we r e xtre mity 13.9% o rtho tic se rvic e s, a nd spe e c h-la ng ua g e pa tho lo g y. 3. K ne e / Hip re pla c e me nt 10.5% 4. De b ility 10.4% As the 1946- 1965 ba by boom 5. Ne uro lo g ic a l diso rde rs 10.3% g e ne ra tion re a c he s 65, the g rowth in the numbe r of 6. Bra in injury 7.5% be ne fic ia rie s inc re a se s from 2% to a bout 3% . (2) 7. Othe r o rtho pe dic c o nditio ns 7.0% 8. Ca rdia c c o nditio ns 5.1% 9. Spina l c o rd injury 4.3% 10. All o the r 11.1% (1) Me dic a re Re po rt to Co ng re ss, Me dic a re Pa yme nt Po lic y, Ma rc h 2012 – pa g e 233 a nd 241 (2) 2012 Annua l Re po rt o f the Bo a rds o f T ruste e s o f the F e de ra l Ho spita l I nsura nc e a nd F e de ra l Supple me nta ry Me dic a l I nsura nc e T rust F unds - pa g e s 10 a nd 22 5
He althSouth diffe r e ntiate s itse lf on its supe r ior outc ome s… 36 IM Ga in F Cha ng e in 34 F unc tio na l 32 I nde pe nde nc e 30 Me a sure me nt (b a se d o n a n 18 28 po int a sse ssme nt) 26 fro m a dmissio n to 24 disc ha rg e 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 He a lthSo uth UDS Ave ra g e (1) Inpa tie nt re ha bilita tion hospita ls e va lua te a ll pa tie nts a t a dmission a nd upon • disc ha rg e to de te rmine the ir func tiona l sta tus. − T he F unc tio na l I nde pe nde nc e Me a sure me nt (“F I M”) pa tie nt a sse ssme nt instrume nt is use d fo r the se e va lua tio ns. T he diffe re nc e be twe e n the F IM sc ore s a t a dmission a nd upon disc ha rg e is c a lle d • the “F IM Ga in.” − T he g re a te r the F I M Ga in, the g re a te r the pa tie nt’ s le ve l o f inde pe nde nc e , the b e tte r the pa tie nt o utc o me . (1) T he UDS a ve ra g e is the risk a djuste d a ve ra g e o f a pa tie nt mix pulle d fro m the UDS na tio n (inc luding He a lthSo uth) tha t is simila r to the He a lthSo uth a c tua l pa tie nt mix. Ca se s a re pla c e d into CMGs b y a dmitting impa irme nt c o de , func tio na l sta tus a t a dmissio n, a nd so me time s a g e . 6
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