U.S. Physical Therapy, Inc.

Good day, everyone, and welcome to the U.S. Physical Therapy Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. In order to ask a question during the session, please press the star key followed by the number one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star, then zero. I'd now like to turn the call over to Chris Redding, President and CEO. Please go ahead, sir.

Thanks, Ashley. Good morning and welcome, everyone, to our third quarter 2022 U.S. Physical Therapy Earnings Call. Today I'm calling in from Denver, where we have the largest aggregation of private practices for the annual physical therapy private practice meeting. It's a great place for us to see friends and colleagues and work on deal-related opportunities for the future. Additionally, this year, in conjunction with this PPS meeting, we held our annual APTQI board meeting, where we continue to work on behalf of our profession in areas such as fair reimbursement for the amazing life-altering results we produce for our patients. Excuse me one second. We continue to push for the reduction of administrative burden. We're working to ensure that we have an adequate supply of therapists to serve the growing needs of our aging population, replacing unnecessary and excessive pharmaceutical and other more expensive interventions with proven, functionally restoring care. We focus on other legislative and long-term efforts. I'm proud of the work that we're doing within APTQI and our member companies' ongoing support of those efforts, which to date have helped mitigate some of the significant and harmful cuts proposed by CMS these past few years. Joining me on the call this morning include Kerry Hendrickson, our CFO. I'm really happy Kerry's part of our team. He arrived here two years ago as we worked our way through year one of the pandemic. He's doing a great job. Eric Williams, Graham Reeve, our co-COOs are also here with me. They've been working extremely hard along with our regional presidents in conjunction with our partners and our local staff who work every day to provide outstanding care while we work to make ongoing adjustments during what has been a rather continuously involving environment. and this year to include a rather sharp and significant inflation across all cost areas, coupled with some employee scarcity, which I think we're beginning to deal with more effectively at this point. Finally, Rick Binstein, who in addition to being our Executive Vice President and General Counsel, is my right arm in so many important areas and ways, including especially in our acquisition-related work. Well, we've tried hard recently to make sure Rick stays as busy as possible. Rick is also, unfortunately, a Phillies fan, so that's the only real strike against him at this point. Before I continue further, I'll ask our Senior Vice President of Finance and Accounting, Jake Martinez, to please cover a brief disclosure. Jake, if you would.

Thank you, Chris. This presentation contains forward-looking statements which involve certain risks and uncertainties. These forward-looking statements are based on the company's current views and assumptions. The company's actual results may vary materially from those anticipated. Please see the company's filings with the Securities and Exchange Commission for more information.