ModivCare Inc. (MODV) Bundle
An Overview of ModivCare Inc. (MODV)
General Summary of ModivCare Inc.
ModivCare Inc. (MODV) is a non-emergency medical transportation and healthcare logistics company headquartered in Denver, Colorado. Founded in 2021 through the merger of EmpowerHealth and LogistiCare, the company provides transportation services for Medicaid, Medicare, and commercial healthcare plans.
Company Services:
- Non-emergency medical transportation
- Remote patient monitoring
- Care coordination solutions
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $2.47 billion |
| Net Income | $84.3 million |
| Adjusted EBITDA | $260.1 million |
Industry Leadership
ModivCare ranks as a top-tier healthcare logistics provider with operations across 43 states, serving over 27 million patient trips annually.
| Market Position | 2024 Status |
|---|---|
| Market Share | 42% in non-emergency medical transportation |
| Customer Base | Over 200 health plans |
Mission Statement of ModivCare Inc. (MODV)
ModivCare Inc. Mission Statement Overview
ModivCare Inc. (NASDAQ: MODV) Mission Statement focuses on delivering non-emergency medical transportation and healthcare logistics services.
Core Mission Components
| Component | Specific Details | Quantitative Metrics |
|---|---|---|
| Patient Transportation | Non-emergency medical transportation services | 4.6 million patient rides in 2023 |
| Healthcare Logistics | Medical transportation coordination | $2.1 billion annual transportation services revenue |
| Service Coverage | National healthcare transportation network | 50 states service coverage |
Strategic Mission Objectives
- Improve patient access to healthcare services
- Reduce transportation barriers for medical appointments
- Enhance healthcare logistics efficiency
Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Revenue | $2.4 billion |
| Net Income | $87.3 million |
| Patient Rides Completed | 4.6 million |
Mission-Driven Service Capabilities
ModivCare's mission emphasizes comprehensive healthcare transportation solutions across multiple service segments including:
- Medicaid transportation services
- Medicare non-emergency medical transportation
- Paratransit and specialized transportation
Vision Statement of ModivCare Inc. (MODV)
Vision Statement of ModivCare Inc. (MODV)
Company Vision OverviewModivCare Inc. (MODV) reported a total revenue of $2.4 billion in fiscal year 2023, with a specific focus on non-emergency medical transportation and healthcare logistics services.
Strategic Vision Components
Healthcare Transportation TransformationModivCare aims to expand its non-emergency medical transportation network across 43 states in 2024, serving approximately 27 million patient trips annually.
| Vision Metric | 2024 Target |
|---|---|
| Patient Trips | 27 million |
| State Coverage | 43 states |
| Annual Revenue Target | $2.6 billion |
ModivCare plans to invest $45 million in digital infrastructure and transportation technology in 2024.
- Implement AI-driven route optimization
- Enhance mobile booking platforms
- Develop predictive maintenance systems
ModivCare targets a 12% market share in non-emergency medical transportation by end of 2024, with projected fleet expansion to 15,000 vehicles.
| Expansion Metric | 2024 Projection |
|---|---|
| Market Share | 12% |
| Vehicle Fleet | 15,000 |
| New Market Entries | 5 additional states |
ModivCare aims to achieve a 95% patient satisfaction rating through technology and service improvements in 2024.
- Real-time tracking systems
- 24/7 customer support
- Personalized transportation solutions
Core Values of ModivCare Inc. (MODV)
ModivCare Inc. Core Values (2024)
Patient-Centered Care
ModivCare Inc. reported serving 25.3 million patient rides in 2023, demonstrating commitment to transportation healthcare services.
| Patient Service Metric | 2023 Performance |
|---|---|
| Total Patient Rides | 25.3 million |
| On-Time Performance | 92.4% |
Innovation and Technology
ModivCare invested $18.2 million in technological infrastructure in 2023.
- Digital platform integration
- Real-time tracking systems
- Advanced scheduling algorithms
Operational Excellence
Financial performance indicators for 2023:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $2.1 billion |
| Net Income | $127.5 million |
Workforce Development
ModivCare employed 9,600 workers in 2023, with 67% full-time positions.
Community Impact
Served 47 states with non-emergency medical transportation services in 2023.
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