Psychiatric Solutions, Inc. Q3 2008 Earnings Call Transcript

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2008-10-31 13:12:12.0

Tags: Patient, Barclays Plc., Call Transcript, Earnings, Psychiatric Solutions Inc., Seeking Alpha, Patient, Barclays Plc., Call Transcript, Earnings, Psychiatric Solutions Inc., Seeking Alpha

Question-and-Answer Session

Operator

Yes, thank you, sir. (Operator instructions) We go first to Adam Feinstein with Barclays Capital.

Adam Feinstein Barclays Capital

Alright, thank you. Good morning, everyone.

Joey Jacobs

Good morning.

Adam Feinstein Barclays Capital

Just a few questions here and I guess just may be start, same-store growth was really solid in the quarter and then you (inaudible) that Riveredge brought that down some as well. So, seems like you’ve seen a nice acceleration there so – and this is the first quarter with (inaudible) same-store number. So just trying to understand in terms of what’s driving that. I know the number bounces around from quarter-to-quarter, but anything that would have really benefited the numbers this quarter, anything to highlight there?

Joey Jacobs

No, no, really it was just – as we’ve been building the beds over the past year, I think you are seeing the impact of the beds that we have built and it was just good operations and once again the demand for the services is there and we have great markets that we operate in and great facilities.

Adam Feinstein Barclays Capital

Alright. And then there were a few facilities that were having – I mean besides Riveredge that you guys talked about over the past year such as The Pine, just curious, did some of those sites ramp back up?

Joey Jacobs

Yes, in the third quarter, Adam, The Pines contributed about 30 basis points to the same-store patient day growth. They are now about 20 patients a day over what they were this time last year and ramping up. And West Macon is doing a fantastic job for us there. Also, I was going to mention at the end, but I will go – I will mention it now, our Manatee Palms facility has come back very strong for us and is doing a great job and Dave Guymon, unfortunately for his death, but Dave and Manatee Palms just received the TRAUMA award from the University of South Florida for being the best in Florida. And it’s just a terrific story about where we took a facility that had some issues and now we’ve turned it into the best.

So, those things are happening and in Riveredge hold we expect to get it lifted in the fourth quarter and so we are doing well and whenever we find an issue that we need to address, we are addressing it.

 

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