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U.S. Physical CEO Discusses Q3 2010 Results - Earnings Call Transcript

Right now, that continues to be creating greater volume development, which I continue to believe we can do through Fit2Work and other internal initiatives designed to enhance a volume in growth through our partnerships, while beneficially improving our payor mix. Additionally, we will continue to add to our sales team with an eye toward further expansion of our resources, with special attention to some of our largest markets where we already have existing sales in place with room for more complete geographic coverage.

On the development front, we have opened 13 de novo facilities at the end of the quarter, several more recently, and a number to complete before year-end. We have discussed our continued focus on acquisition-related growth and after completing our East Coast deal in the spring this year, while I won’t get into too much detail, we will say that you can expect us to continue to do what we say we will do in these areas and all the other areas related to the growth and development of our company.

On the reimbursement front, let me say this. Year in, year out, we have worked as a team very deliberately to move forward. There has been lot of attention over the past few months relating to possible pending reimbursement changes by CMS, the most recent which came as a surprise announcement this summer, which we refer to as MPPR, or Multi Procedure Payment Reduction plan. After significant dialog and comment with CMS regarding what we and the rest of the industry believe, came about through flawed analysis and application, final policy was released two days ago in an approximately 2,000-page document covering a wide landscape of reimbursement and rule updates by CMS across the entire healthcare landscape.

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