DaVita HealthCare Partners Inc DVA
Q3 2012 Earnings Call Transcript

Transcript Call Date 10/30/2012

Operator: Good afternoon. My name is Juana and I will be your conference operator today. At this time, I would like to welcome everyone to the DaVita Q3 2012 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

Jim Gustafson, you may start your conference.

Jim Gustafson - IR: Thank you, Juana, and welcome everyone to our third quarter conference call. We appreciate your continued interest in our Company. I am Jim Gustafson, Vice President of Investor Relations, and with me today are Kent Thiry, our CEO; Jim Hilger, our interim CFO; LeAnne Zumwalt, Group Vice President; and Matthew Mazdyasni, HealthCare Partners Executive Vice President and CFO. Also Bob Margolis, HCP's CEO, may be joining us later on the call as well.

I'd like to start with our forward-looking disclosure statements. During this call, we may make forward-looking statements within the meaning of the federal securities laws. All of these statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

For further details concerning these risks and uncertainties, please refer to our SEC filings, including our most recent quarterly report on Form 10-Q and Annual Report on Form 10-K. Our forward-looking statements are based on information currently available to us and we do not intend and undertake no duty to update these statements for any reason.

Additionally, I'd like to remind you that during this call we will discuss some non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most comparable GAAP financial measures are included in our Form 8-K submitted to the SEC and available on our website.

I'll now turn the call over to Kent Thiry, our Chief Executive Officer.

Kent J. Thiry - Chairman and CEO: Okay. Thank you, Jim. Thanks to all of you for joining on this call, and we are hoping that all of you and your families and friends are safe and are going to get through the storm okay.

The second quarter was a solid quarter. We did well, both clinically and operationally. I'll cover three topics, clinical outcomes, our outlook and then HealthCare Partners in turn, but first clinical outcomes as we always do, because that is what comes first. We are at our most basic a care giver Company serving approximately 151,000 patients now, and soon many more when we close the HealthCare Partners combination.

With respect to adequacy, which is essentially how well we're doing at removing toxins from our patient's blood, this quarter, 98% of our hemodialysis patients had a Kt/V greater than 1.2. Second, with respect to vascular access, 71% of our patients had fistulas. Third, with respect to phosphorus, 81% of our patients had phosphorus levels less than or equal to 5.5 mg/dL. We also did very well in vaccinations and a number of other areas and for these and virtually all other clinical measures, our patient outcomes compared very favorably to the national averages. This quality care not only results in healthier patients, but also drives reductions in hospitalizations and surgical procedures and therefore, significant savings to the U.S. healthcare system.

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