ModivCare

ModivCare, Inc. provides technology-enabled services, which offers integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Matrix Investment, and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC, and Circulation and includes the Company’s activities for executive, accounting, finance, internal audit, tax, legal, certain strategic and development functions and the Company's insurance captive. The Matrix Investment segment provides home and mobile-based healthcare services for health plans. The Personal Care segment consists of non-medical home care to Medicaid patient populations, including seniors and disabled adults, in need of care monitoring and assistance performing activities of daily living. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.

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ModivCare exceeds 2022 targets, eyes growth through innovation and efficiency

ModivCare's strong performance in 2022 sets a positive trajectory for 2023 with revenue and EBITDA growth.
Strategic realignment, innovation focus, and leadership changes position the company for future success.
Challenges like managing cash flows and cost shifts are being addressed to drive improved margins.
Opportunities in NEMT growth, RPM innovation, and meal delivery expansion offer avenues for future expansion.

ModivCare reports solid Q1 results, eyes long-term growth targets

ModivCare's Q1 performance showed revenue growth and maintained EBITDA guidance, focusing on operational efficiency and margin improvement.
Strengths lie in strategic initiatives, positive outlook on growth, and confidence in achieving long-term targets despite challenges.
Challenges include Medicaid redetermination impact, NEMT margin components, and uncertainties around leverage improvement.
Opportunities present in cost reduction, margin optimization, and potential free-cash generation, emphasizing long-term stability and growth.

ModivCare reports Q2 revenue growth, adjusts guidance amidst Medicaid challenges

ModivCare's Q2 performance showed revenue growth driven by the Home division, despite challenges in NEMT and cash flow.
The company is optimistic about revenue guidance, new executive hires, and cost-saving initiatives to mitigate redetermination impacts.
Anticipated challenges include Medicaid redetermination impacts and reductions in covered lives, balanced by opportunities in digital capabilities and service enhancements.
Overall, ModivCare aims to navigate challenges, capitalize on opportunities, and maintain financial stability through strategic initiatives.

ModivCare reports strong Q3 results, eyes margin improvement by 2024

ModivCare's Q3 earnings call showcased strong financial performance, strategic pillars driving transformative initiatives, and a focus on value-based care. The company is on track to meet revenue and adjusted EBITDA guidance for 2023, with expectations of margin improvements and sustained positive free cash flow post-2023.

ModivCare reports solid Q4 growth, eyes contract wins for 2024

ModivCare reported solid revenue growth in Q4 2023, driven by key segments like NEMT, PCS, and RPM. Despite challenges in Q1 2024, the company aims for strong financial performance in 2024, targeting adjusted EBITDA of $220-230 million.
The company's focus on cost-saving initiatives, customer integration, and quality improvements has led to significant contract wins in managed Medicaid. Labor availability stabilization and strategic positioning in the healthcare market are key strengths.
Challenges like contract losses and cash flow tensions persist, but ModivCare remains optimistic about growth opportunities through new contract wins and Matrix monetization. The company's proactive approach to financial management and focus on performance enhancement are notable.
Opportunities lie in winning more contracts, improving NEMT margins, and leveraging existing state presence for revenue growth. Matrix monetization and potential RFPs in 2024 present additional avenues for revenue generation and market expansion.

ModivCare meets Q1 guidance, eyes growth through strategic initiatives

ModivCare's Q1 performance met guidance, with a focus on enhancing competitive positioning.
Challenges include delayed reimbursement increases and lower EBITDA in personal care segment.
Opportunities lie in refinancing, monetizing Matrix, and potential sale of personal care segment.
Overall, ModivCare is strategically positioned for growth and operational efficiency.

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ModivCare, Inc. is a technology-enabled healthcare services company, which engages in the provision of a suite of integrated supportive care solutions for public and private payors and their members. It operates through the following segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. The NEMT segment is involved in the non-emergency medical transportation programs for state governments and managed care organizations, or MCOs, in the U.S. The Personal Care segment offers home personal care services to State and Managed Medicaid, Medicare, and Private Pay patient populations in need of care monitoring and assistance performing activities of daily living. The RPM segment focuses on remote patient monitoring solutions, including personal emergency response systems, vitals monitoring, and data-driven patient engagement solutions. The Corporate and Other segment includes the costs associated with the company's corporate operations. The company was founded by Fletcher Jay McCusker in December 1996 and is headquartered in Denver, CO.

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to report financial results for the second quarter ended June 30, 2021 on Friday, August 6, 2021, before the market opens. ModivCare will host a conference call on Friday, August 6, 2021 at 8:00 a.m. Eastern Time to

ModivCare Inc. to Report Second Quarter 2021 Financial Results and Host Conference Call on Friday, August 6, 2021

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to present at the CJS Securities 21st Annual New Ideas Summer Conference, which will be held virtually, on Tuesday, July 13, 2021 at 2:20pm Eastern Time. The link to the live webcast of the Company's presentation wil

ModivCare Inc. to Present at the CJS Securities 21st Annual New Ideas Summer Conference

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to present at the Jefferies Virtual Healthcare Conference on Thursday, June 3, 2021 at 3:30 p.m. Eastern Time. The link to the live webcast of the Company's presentation will be available by visiting ModivCare's webs

ModivCare Inc. to Present at the Jefferies Virtual Healthcare Conference

Detroit, MI, May 20, 2021 (GLOBE NEWSWIRE) -- ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, is providing much-needed transportation services to Michigan residents in Wayne, Oakland, and Macomb counties wishing to receive the COVID-19 vaccine who face transportation insecurity and are unable to access the mass vaccination site. The door-to-door service is being provided by one of ModivCare's local transportation partners, M RUN LLC, based out of Warren, MI and serving the metro Detroit area.

ModivCare Partners with the Michigan Department of Community Health and FEMA to Provide Critical Vaccine-Related Transportation to Ford Field

ModivCare Inc. (MODV) CEO Dan Greenleaf on Q1 2021 Results - Earnings Call Transcript

ModivCare (MODV) delivered earnings and revenue surprises of 12.94% and -0.05%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

ModivCare (MODV) Tops Q1 Earnings Estimates

DENVER--(BUSINESS WIRE)--ModivCare Inc., (the “Company” or “ModivCare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today reported financial results for the three months ended March 31, 2021. First Quarter 2021 Highlights: Revenue of $453.6 million, a 23.5% increase as compared to $367.3 million in Q1 2020 Income from continuing operations, net of tax, of $18.9 million or $1

ModivCare Reports First Quarter 2021 Financial Results

ModivCare (NASDAQ:MODV) releases its next round of earnings this Friday, May 07. Get the latest predictions in Benzinga's essential guide to the company's Q1 earnings report.

ModivCare's Earnings: A Preview

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Healthcare Stock Q1 Earnings Due on May 7: ELAN, MD, MODV

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company has completed the acquisition of nuVizz, Inc.'s (“nuVizz”) WellRyde technology platform. WellRyde is an industry-leading technology provider of Advanced Transportation Management Systems (ATMS) software, enabling optimized routin

ModivCare Announces Acquisition of WellRyde and Accelerated Strategy to Create the Largest Digitally Integrated Non-Emergency Medical Transportation (NEMT) Network in the United States

ModivCare (MODV) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

ModivCare (MODV) Earnings Expected to Grow: Should You Buy?

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company is scheduled to report financial results for the first quarter ended March 31, 2021 on Friday, May 7, 2021, before the market opens. ModivCare will host a conference call on Friday, May 7, 2021 at 8:00 a.m. Eastern Time to discus

ModivCare Inc. to Report First Quarter 2021 Financial Results and Host Conference Call on Friday, May 7, 2021

DENVER--(BUSINESS WIRE)--ModivCare Inc. (“ModivCare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes, today announced that the number of directors comprising its Board of Directors has been increased to ten, and that Garth Graham, Stacy Saal, and Rahul Samant have been appointed to the Company's Board of Directors. Chris Shackelton, Chairman of the Board of Modi

ModivCare Inc. Announces Addition of Three New Independent Directors

SCOTTSDALE, Ariz., April 1, 2021 /PRNewswire/ -- Matrix Clinical Solutions, a Matrix Medical Network® (Matrix) business, today announced two ModivCare Inc. ("ModivCare"), formerly LogistiCare, sites have been granted certification through ongoing monitoring of the safety and health of employees to ensure compliance within the Center of Disease Control's (CDC) evolving COVID-19 guidelines.

Matrix Clinical Solutions Partners with ModivCare to Minimize the Risk of COVID-19 Transmission at Worksites

ModivCare (MODV) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

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