ModivCare

Modivcare’s NEMT Mobility App for Members Sets Best-in-Class Rankings and User Adoption, Pioneers New Advancements

Retrieved on: 
Wednesday, March 6, 2024

The app is also multilingual supported – offering Spanish and soon Polish, Mandarin, Cantonese, and Russian – to ensure broader populations can access vital NEMT services.

Key Points: 
  • The app is also multilingual supported – offering Spanish and soon Polish, Mandarin, Cantonese, and Russian – to ensure broader populations can access vital NEMT services.
  • The app incorporates fraud prevention geofencing, ensuring accuracy in mileage reimbursement submissions and enabling instant payment and reimbursement.
  • These solutions – backed by secure technology – ensure users are safe and protected throughout their entire trip management and reimbursement experience.
  • “We are excited to highlight these cutting-edge features, further solidifying our position as an industry leader in NEMT solutions,” said Ilias Simpson, President of Modivcare Mobility.

Modivcare Reports Fourth Quarter and Full Year 2023 Financial Results; Issues 2024 Guidance

Retrieved on: 
Thursday, February 22, 2024

For the fourth quarter of 2023, the Company reported revenue of $702.8 million, an increase of 7.5% from $653.9 million in the fourth quarter of 2022.

Key Points: 
  • For the fourth quarter of 2023, the Company reported revenue of $702.8 million, an increase of 7.5% from $653.9 million in the fourth quarter of 2022.
  • Operating income was $15.7 million, or 2.2% of revenue, in the fourth quarter of 2023, compared to $6.6 million, or 1.0% of revenue, in the fourth quarter of 2022.
  • Net loss was $5.3 million, or $0.37 per common share in the fourth quarter of 2023, compared to $6.9 million, or $0.49 per common share, in the fourth quarter of 2022.
  • Adjusted EBITDA was $50.5 million, or 7.2% of revenue, in the fourth quarter of 2023, compared to $59.7 million, or 9.1% of revenue, in the fourth quarter of 2022.

Modivcare to Report Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 1, 2024

Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the fourth quarter and full year ended December 31, 2023, on Thursday, February 22, 2024, after the market closes.

Key Points: 
  • Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the fourth quarter and full year ended December 31, 2023, on Thursday, February 22, 2024, after the market closes.
  • Modivcare will host a conference call on Friday, February 23, 2024, at 8:30 a.m. Eastern Time to discuss fourth quarter and full year 2023 financial results.
  • The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037.
  • A replay of the conference call will be available on the Company’s website approximately one hour after the call concludes.

GoGoGrandparent Launches in Australia, Powered By Uber Health

Retrieved on: 
Wednesday, December 6, 2023

CANBERRA, Australia, Dec. 6, 2023 /PRNewswire-PRWeb/ -- GoGoGrandparent, the leading provider of transportation solutions for older adults in North America, today launched their inclusive, on-demand mobility service in Australia, delivered in partnership with Uber Health. Through this collaboration, older adults and people with disabilities in Australia can now call GoGoGrandparent at 13 4628 to book rides with Uber without the need for a smartphone or the Uber app.

Key Points: 
  • Through this collaboration, older adults and people with disabilities in Australia can now call GoGoGrandparent at 13 4628 to book rides with Uber without the need for a smartphone or the Uber app.
  • CANBERRA, Australia, Dec. 6, 2023 /PRNewswire-PRWeb/ -- GoGoGrandparent, the leading provider of transportation solutions for older adults in North America, today launched their inclusive, on-demand mobility service in Australia, delivered in partnership with Uber Health.
  • GoGoGrandparent has completed 1.5 million Uber Health rides in the U.S. since the two companies began working together in 2019.
  • By working directly with on-demand services like Uber, GoGoGrandparent manages the mobility, meals, groceries and home services of their clients.

Modivcare to Report Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, October 12, 2023

Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the third quarter ended September 30, 2023, on Thursday, November 2, 2023, after the market closes.

Key Points: 
  • Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that the Company is scheduled to report financial results for the third quarter ended September 30, 2023, on Thursday, November 2, 2023, after the market closes.
  • Modivcare will host a conference call on Friday, November 3, 2023, at 8:30 a.m. Eastern Time to discuss third quarter 2023 financial results.
  • The conference call dial-in number for domestic callers is (877) 407-8037, and international callers should dial +1 (201) 689-8037.
  • A replay of the conference call will be available on the Company’s website approximately one hour after the call concludes.

Higi Selects ThoroughCare to Assist in Managing Chronically Ill Patients

Retrieved on: 
Tuesday, September 26, 2023

ThoroughCare, Inc., a leading care coordination organization, continues to demonstrate operational growth and success, today announced a new partnership with Higi, a Modivcare service (Nasdaq: MODV).

Key Points: 
  • ThoroughCare, Inc., a leading care coordination organization, continues to demonstrate operational growth and success, today announced a new partnership with Higi, a Modivcare service (Nasdaq: MODV).
  • Higi was acquired by Modivcare in March 2023 and supports Modivcare’s development of the leading integrated supportive care platform for individuals living with complex health conditions.
  • Higi will implement ThoroughCare’s integrated care coordination software platform as part of Higi’s complex care management solution to provide data collection and care management services for chronically ill and vulnerable patients.
  • “By integrating ThoroughCare’s platform, the Higi Care Management team will be better equipped to provide our patients with the care and guidance they need,” said Jeff Bennett, CEO of Higi.

Modivcare Announces Successful Implementation of AI Automated Omnichannel Cloud Solution to Improve NEMT Member Experience

Retrieved on: 
Monday, September 18, 2023

By integrating Genesys’ advanced cloud-based contact center technology into its member care centers, Modivcare is poised to set a new standard in the NEMT industry for member engagement and satisfaction.

Key Points: 
  • By integrating Genesys’ advanced cloud-based contact center technology into its member care centers, Modivcare is poised to set a new standard in the NEMT industry for member engagement and satisfaction.
  • Key highlights of the Genesys Cloud CX implementation includes:
    Improved Member Engagement: members can now reach Modivcare seamlessly through their preferred communication channel including phone, email, chat, and SMS.
  • Scalability: Genesys’ cloud infrastructure equips Modivcare to handle increased member insights through member interactions, enabling continuous improvement through our services, which contributes to better health outcomes.
  • Enhanced Security Measures: protecting member data is paramount and the Genesys cloud solution prioritizes data security and compliance, ensuring that member information remains safeguarded at all times.

Modivcare Appoints Henry “Enrique” Toledo as Chief People Officer

Retrieved on: 
Tuesday, September 5, 2023

Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Henry “Enrique” Toledo was appointed as its Chief People Officer, effective today.

Key Points: 
  • Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Henry “Enrique” Toledo was appointed as its Chief People Officer, effective today.
  • Mr. Toledo will be responsible for overseeing all aspects of human resources, talent management, and organizational development at Modivcare.
  • “I am thrilled to welcome Enrique to Modivcare and our executive leadership team as our new Chief People Officer,” said L. Heath Sampson, Chief Executive Officer.
  • Enrique’s experience working for industry leading, tech-enabled companies will help improve our people and processes on our journey to becoming One Modivcare.

Modivcare Announces Barbara Gutierrez to Join as Chief Financial Officer

Retrieved on: 
Wednesday, August 23, 2023

Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Barbara Gutierrez has agreed to join Modivcare as its Chief Financial Officer (CFO) with an expected start date of September 18, 2023.

Key Points: 
  • Modivcare Inc. (the “Company” or “Modivcare”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving health outcomes, today announced that Barbara Gutierrez has agreed to join Modivcare as its Chief Financial Officer (CFO) with an expected start date of September 18, 2023.
  • “I am delighted to announce the appointment of Barbara Gutierrez as our new Chief Financial Officer.
  • Barb is an established finance leader within the healthcare industry, and I am confident that she will help Modivcare drive results as we advance our journey to becoming One Modivcare,” said L. Heath Sampson, Chief Executive Officer.
  • Prior to joining Modivcare, Barbara was Chief Financial Officer of InnovAge, the largest Program of All-Inclusive Care (PACE) provider in the country.

Modivcare Reports Second Quarter 2023 Financial Results and Adjusts 2023 Guidance

Retrieved on: 
Thursday, August 3, 2023

For the second quarter of 2023, the Company reported revenue of $699.1 million, an increase of 11.3% from $628.2 million in the second quarter of 2022.

Key Points: 
  • For the second quarter of 2023, the Company reported revenue of $699.1 million, an increase of 11.3% from $628.2 million in the second quarter of 2022.
  • Our operating loss was $175.8 million, or 25.1% of revenue, in the second quarter of 2023, compared to operating income of $23.1 million, or 3.7% of revenue, in the second quarter of 2022.
  • Net loss in the second quarter of 2023 was $190.9 million, or $13.47 per diluted common share, compared to net income of $3.3 million, or $0.24 per diluted common share, in the second quarter of 2022.
  • Adjusted EBITDA was $52.4 million, or 7.5% of revenue, in the second quarter of 2023, compared to $60.2 million, or 9.6% of revenue, in the second quarter of 2022.