DaVita Inc DVA
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/14/2013

Operator: Good afternoon. My name is LaPorchia and I will be your conference operator today. At this time, I would like to welcome everyone to the DaVita HealthCare Partners Fourth Quarter Earnings 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.

Mr. Gustafson, you may begin your conference.

Jim Gustafson - Investor Relations: Thank you, LaPorchia, and welcome everyone to our fourth quarter 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; Bob Margolis, the CEO of HealthCare Partners; Matthew Mazdyasni, HealthCare Partners Executive Vice President and CFO; Jim Hilger, our interim CFO of DaVita HealthCare Partners; LeAnne Zumwalt, Group Vice President.

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 the 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 form on Form 10-Q and Annual Report on Form 10-K. Our forward-looking statements are based upon information currently available to us and we do not intend and undertake no duty to update these statements for any reason.

Additionally, we 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 is 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 - Co-Chairman and CEO of DaVita HealthCare Partners Inc.: Thank you, Jim and thanks to all of you out there for your interest in DaVita HealthCare Partners. Fourth quarter was a momentous one and one important respect and that we completed the acquisition of HealthCare Partners to become our new company, that’s transformational for us and hopefully overtime transformational for many markets in American healthcare. I'll talk about kidney care a bit. Then I'll make a couple quick comments on HealthCare Partners, and then talk about our near-term outlook, followed by a summary of things to feel good about, things to worry about.

So kidney care first. It was another solid quarter. We performed well both clinically and operationally. Let me elaborate on the clinical side. We will present these outcomes first because that is what comes first. We are first and foremost a caregiving company, which on the kidney care side alone serves, approximately, 153,000 dialysis patients in United States. With respect to adequacy, which is essentially how well we're doing in removing toxins from our patients, but once again we hit the 98% level in terms of the Kt/V greater than 1.2. With respect to vascular access, we set yet another personal best with 71% of our patients having fistulas, which is the preferred form of access, not only better clinically, but saving taxpayers money. Third, vaccinations; this year over 91% of our patients were vaccinated for influenza and pneumonia, once again improving healthcare and reducing taxpayer cost. And number four, is just a moment's reflection; since 2009 we've reduced the use of catheters by 43% among our substantial population, one-third of all the dialysis patients in America. Once again, that constitutes wonderful clinical improvement, wonderful taxpayer savings. For these and virtually all other clinical measures, our patient outcomes compare very favorably to national averages. And this quality not only results in healthier patients but drives reductions in hospitalizations, surgical procedures and costs. So, good news on the clinical front. We think that's not only good news for our patients and the taxpayers, but its good news for you.

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