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MEDNAX Provides Updates Related to Coronavirus Pandemic

MEDNAX, Inc. MD recently took some initiatives to tackle the COVID-19 pandemic. Clinicians are constantly collaborating to hatch innovative solutions that will lead to safe and seamless patient care.

The company has taken various steps to fight the coronavirus spread, such as supporting clinician shortage by allowing anesthesiologists, anesthesia clinicians and pediatric clinicians manage the emergency situations. In the wake of the coronavirus outbreak, hospitals were required to keep their elective procedures on hold to accommodate any potential surge in COVID-19-infected cases.

MEDNAX is also addressing the dearth of Personal Protective Equipment (PPE) by collaborating with vendors to get access to high filtration respirators, surgical masks and other forms of PPE for protective use.

Given that telehealth services are of great help amid the coronavirus outbreak, MEDNAX, like many other companies, extended its telehealth offerings via VSee, an internationally-recognized telehealth platform. By facilitating virtual patient care, it minimized exposure to COVOD-19 without compromising on availability of its services.

MEDNAX Radiology Solutions is leading early detection efforts through chest imaging. VRad also diagnosed one of the first coronavirus patients in the United States through its cutting-edge technology. MEDNAX Radiology Solutions is enhancing natural language processing (NLP) to ascertain the rate of viral pneumonia and typical findings of the COVID-19 virus in the lungs through chest CT.

The company continues to follow the guidance issued by the Centers for Disease Control and Prevention (CDC). MEDNAX also took several operational steps, such as salary reductions and furloughs, control of overall expenses, etc.

In March, the company withdrew its initial guidance for the first quarter of 2020 and the full year due to the coronavirus or COVID-19 effect on global economy.

Its January and February results were in line with the earlier-provided outlook. However, in March, the company’s clinical operations were affected by lower patient volumes due to the rapidly-evolving COVID-19 outbreak.

Shares of this Zacks Rank #4 (Sell) company have lost 49.2% in a year's time, wider than its industry's decline of 20.4%. The stock performance looks pale in comparison to other companies in the same space, such as HCA Healthcare, Inc. HCA, Acadia Healthcare Company, Inc. ACHC and Community Health Systems, Inc. CYH.

While HCA Healthcare and Acadia Healthcare have shed 15% and 21.6% of value each, Community Health has gained 13.8% in the same time frame.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


However, we expect MEDNAX to bounce back owing to its solid fundamentals like strategic inorganic growth, strong Radiology segment, etc. once normalcy is resumed.

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