- Transports of privately insured patients decreased from 26.8% to 26.1% of total transports during the second quarter, compared with the prior-year quarter.
- Collections as a percentage of gross charges from private insurers decreased from 81.7% in the prior-year quarter to 77.5% in current-year quarter. The vast majority of this decline is due to the cessation of a national contract with a commercial payor.
Some preliminary statistics can be found in the table below.The Company will report financial results for the second quarter ended June 30, 2015 after the close of the market on Thursday, August 6, 2015. Concurrently, the Company will post a financial supplement that contains final operating statistics on its website, www.airmethods.com. The Company has scheduled a conference call for Thursday, August 6, 2015 at 4:30 p.m. Eastern to discuss these results. Interested parties can access the call by dialing (855) 601-0049 (domestic) or (720) 398-0100 (international) or by accessing the web cast at www.airmethods.com. A replay of the call will be available at (855) 859-2056 (domestic) or (404) 537-3406 (international), access number 77221453, for 3 days following the call and the web cast can be accessed at www.airmethods.com for 30 days. Air Methods Corporation ( www.airmethods.com) is the global leader in air medical transportation. The Air Medical Services Division is the largest provider of air medical transport services in the United States. The United Rotorcraft Division specializes in the design and manufacture of aeromedical and aerospace technology. The Tourism Division is comprised of Sundance Helicopters, Inc. and Blue Hawaiian Helicopters, which provides helicopter tours and charter flights in the Las Vegas/Grand Canyon region and Hawaii, respectively. Air Methods' fleet of owned, leased or maintained aircraft features over 450 helicopters and fixed wing aircraft. Forward Looking Statements: Forward-looking statements in this news release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this press release that are "forward-looking statements", including statements we make with regard to the Company's preliminary second quarter 2015 operational and financial results, including those related to (i) total community-based patient transports, (ii) same-base transports, (iii) weather cancellations, (iv) net revenue per patient transport, and (v) net income per share, are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to, the Company's completion of its final quarter-end closing and review procedures, the size, structure and growth of the Company's air medical services, United Rotorcraft Division and Tourism Division; the collection rates for patient transports; the continuation and/or renewal of air medical service contracts; weather conditions across the U.S.; development and changes in laws and regulations, including, without limitation, the impact of the Patient Protection and Affordable Care Act; increased regulation of the health care and aviation industry through legislative action and revised rules and standards; and other matters set forth in the Company's filings with the SEC. The Company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
|Operating Statistics (Preliminary):|
|Net Revenue per Transport||$11,353||$11,298||-0.5%|
|Transports + Weather Cancellations||18,908||22,071||16.7%|
|Same-Base Transports (SBTs)||14,698||14,380||-2.2%|
|SBTs + Weather Cancellations||18,504||19,436||5.0%|
|Days Sales Outstanding||123||131||6.5%|
|Collection Rate||81.7%||77.5%||-420 bps*|
|Commercial Insurance||26.8%||26.1%||-70 bps|
|Government-Sponsored Insurance||3.6%||4.1%||50 bps|
|* The YOY decrease in collection rate is due primarily to the cessation of a national contract with a commercial payor.|