Greetings, and welcome to the Viemed Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder this conference is being recorded. I would now like to turn this conference over to our host, Mr. Todd Zehnder, COO. Thank you, sir. You may begin.

All right. Thank you. Good morning, everyone. Please note that our remarks in this conference call may include forward-looking statements under the U.S. federal securities laws or forward-looking information under applicable Canadian Securities Legislation, which we collectively refer to as forward-looking statements. Such statements reflect the company's current views and intentions with respect to future results or events and are subject to certain risks and uncertainties, which could cause actual results or events to vary from those indicated in forward-looking statements. Examples of such risks and uncertainties are discussed in our disclosure documents filed with the SEC or the securities regulatory authorities in certain provinces of Canada. Because of these risks and uncertainties, investors should not place undue reliance on forward-looking statements. The forward-looking statements made in this conference call are made as of today, and the company undertakes no obligation to update or revise any forward-looking statements except as required by law. The second quarter financial news release, including the related financial statements are available on the SEC's website. Now I'll turn it over to Casey to get things started.

Okay. Thank you, Todd. Good morning, everyone, and thank you for joining our call today. As always, we'd like to begin by acknowledging and thanking the dedicated team of respiratory therapists, behavioral health specialists, staffing professionals, and administrative support staff who worked tirelessly to deliver the best-in-class care to our patients living within the communities we serve. As of June, our Viemed family grew to 715 employees, a 25% increase over the number of employees a year before. We expect to continue to grow our labor force through strong retention of our existing employees and by identifying and recruiting top talent throughout the country. In addition to investments in our workforce, we are investing heavily in inventory and supplies in response to the pent-up demand coming out of the COVID-19 pandemic. Our renewed unrestricted access to referral sources and partners has resulted in robust growth during the second quarter, a trend that we expect to continue based on feedback from the field. It's clear that health systems continue to struggle to address the demand for all services across the care spectrum. Overcrowding and physical facilities, labor shortages, and supply chain constraints are reinforcing the critical need for the home-based care solutions that we provide to patients. Our strong relationships with manufacturers, our well-trained labor force, and our innovative approach to care and data capture have demonstrated that Viemed is a premier solution to larger-scale population health programs. Previously published studies confirmed to our partners that our services are real drivers of improving health outcomes and preventing hospital readmissions. The latest research published by the Respiratory Medicine Journal also shows that non-invasive ventilation in the home significantly reduces overall healthcare costs. According to the recently released peer-reviewed medical study, when patients are placed on non-invasive ventilation within the first week of diagnosis, total annual Medicare spending is reduced by 12%, while the risk of death is simultaneously reduced by 43%. We were anxiously awaiting the publication of the results, and we are now incredibly excited to share the benefits with providers and referral sources. During the second quarter, our sales force was provided with robust training on the pre-published results of the study in preparation for the official June 29 release. Our team is currently in the field executing on a national rollout of the new study, communicating with referral sources about the need to get patients immediately on therapy after diagnosis. This is a very powerful message to physicians and payers, one that demonstrates we cannot afford to wait to try and fail at other forms of lesser therapy upon determining a chronic respiratory failure diagnosis. We also continue to see positive momentum in the regulatory environment. During the second quarter, we announced the successful appeal of the findings from the OIG report. While we have always maintained that the findings in the report were completely unsubstantiated, the success of the appeals sends a clear message to our external stakeholders that Viemed has consistently provided a true industry-best standard of care. In the first half of the year, we identified a tremendous opportunity and successfully executed on a capital strategy to buy back common shares at an incredible value. As the value of our equity shares approached pre-OIG report levels, our capital allocation strategies are able to shift towards acquisitive and transformative initiatives. Therefore, I'm extremely excited about the recently announced addition of two key executives to lead our acquisition and strategic partnership activities. We're currently developing our acquisition infrastructure and working closely with a number of potential acquisition targets to execute these transactions when the capital environment stabilizes. As each month passes without action in the administrative window to institute a competitive bidding process for the 2024 round, the likelihood of implementation becomes less probable. CMS's annual inflation adjustments to reimbursement rates also create regulatory relief in the current operating environment of rising costs across the industry and economy. The inflationary cost increases are nearly impossible to avoid and are having an impact on short-term profitability. Inflation-based annual statutory reimbursement rate resets are expected to counteract the long-term impact. We further believe that most of the repricing effects on our costs have already peaked. We believe that top-line revenue growth will quickly offset the inflationary cost increases in recent periods. During the first half of the year, most of the increases in our costs were associated with the hiring and retention of our labor force to support our significant organizational growth. Our organic expansion has helped us create many internal promotional opportunities for our existing employees to grow their careers within the organization while simultaneously developing our people and minimizing turnover. Our sales base performance compensation arrangements with existing employees have also helped us retain top talent while keeping up with a good pace of growth. We continue to seek innovative ways to invest in our people so that we create an organization where all employees want to belong. Our external recruiting efforts continue to benefit from the impressive growth of our healthcare staffing division. We were able to enter nine new territories during the first half of 2022 as a result. Viemed Healthcare Staffing has sourced approximately one-third of the new sales hires in 2022, and we are extremely proud of the growth of the incremental revenue-producing staffing activities as well. We are significantly diversifying our portfolio mix through the strong growth of non-event products and services. While margin percentages have also been impacted by the evolution of our product mix, we are seeing the positive long-term benefits of revenue synergies based on the diversification of our portfolio. For example, the growth of the oxygen business serves as a wellspring for ventilator patients as disease states progress. Our behavioral health division is having a considerable impact on compliance rates and length of stay for existing ventilator patients. We are also seeing similar results from our proprietary remote patient engagement technologies, currently connected to 45% of our ventilator patients following the ongoing national rollout. Our high-touch, high-tech model creates strong relationships with patients that can evolve over the course of their care journey. While many other corporations and sectors are preparing for a possible recession by slowing investments, we believe there is significant and growing demand for the cost-effective, life-saving services that we provide. We will continue to invest in our ability to meet this demand and serve the patients in need. With more in our operations, financials, the buyback, and the regulatory landscape, I will now turn the call over to our Chief Operating Officer, Todd Zehnder.

All right. Thank you, Casey. In reviewing the financial results, all figures are in U.S. dollars and the full results have been made available on the SEC website, as well as SEDAR. Our core business generated net revenue of $33.1 million during the second quarter of 2022, as compared to net revenues of $26.3 million in the second quarter of '21, which equates to a 26% increase. Our sequential growth for the core business was 10%. We've once again seen solid growth in our major product lines being Vents, PAPs, and oxygen. Our COVID-related revenue was only $200,000 for the quarter as we have seen the need for these services go down as the country gets back to normal post-pandemic. Our margin percentages, both gross and EBITDA, are once again very healthy and are now back to being just from the core business lines. We continue to see our margin profile influenced by our ever-changing product mix and have staffed up for the significant growth that we are currently seeing. Our gross and EBITDA margins during the quarter came in at 61% and 19%, respectively. Our second-quarter gross and EBITDA amounts came in at $20.4 million and $6.5 million, respectively. We are once again encouraged by the rapid growth of our oxygen and sleep businesses as they continue to benefit from our ongoing national rollout of these products. Our second-quarter revenue from vents was approximately 69% of our core revenue as compared to 79% in the second quarter of 2021. Importantly, our vent revenue has grown during the same time, but the product diversification is beginning to show up more and more each quarter. To put this in further context, our second-quarter vent active patient growth was the highest quarterly growth since the second quarter of 2019. The impressive stat is that we have now doubled our total rental patients, which includes vents, vest, O2, and PAPs since the beginning of the pandemic. We see our organic growth ramping back up to even greater levels now that access is not an issue and are extremely pleased with the recent vent patient growth. Our SG&A for the quarter totaled approximately $17.5 million, as compared to $12.9 million in the second of 2021. We have ramped up hiring to serve our growing patient count around the country and expand our organic growth model in new areas. As we continue to grow our ancillary product lines, we should see cost efficiencies through scale, as well as the positive effects of offering a wide array of respiratory products around the country. We, like most companies, are seeing inflationary effects across the board but have managed those as much as possible while continuing to offer superior clinical care to our growing patient count. For the quarter, we invested approximately $7 million on capital expenditures. The CapEx continues to be spent across all of our major product lines as we continue to grow all products and manage this through a diversified supplier network. As we have managed through the lengthy pandemic, as well as the Philips recall, we are happy that we have maintained adequate supplies to service our growing patient base. We will continue to diligently monitor supply chain issues in the future in order to maintain adequate inventory levels. We've once again funded all the CapEx through discretionary cash flow during a quarter where organic patient growth is as high as we've seen in a couple of years. We continue to have a pristine balance sheet, where at June 30, we had a cash balance of $22 million and an overall working capital of $24 million. Our total long-term debt remains at $4.3 million, and we have continued executing on the stock buyback. As mentioned last quarter, we began our buyback efforts on the previously disclosed board-approved buyback. During the second quarter, we bought back 960,689 shares for total expenditures of approximately $5.1 million. As of June 30, we had purchased 1.35 million shares out of the total available approximately 2 million shares under the plan. We are pleased that we've been able to execute on our organic growth strategy, as well as our stock buyback, all while remaining an extremely low-leverage company. Moving on to the ongoing OIG and CMS issue related to our NIV claims, we are continuing to work through the process of finalizing the results on these claims. Importantly, during the second quarter, we received the results from the qualified independent contractor, whereby they ruled that the patients in question were deemed medically necessary. There are eight patients that have been deemed ineligible for several factors, and the company has filed the next level of appeal on these patients, which is going to the ALJ. While we continue to seek a resolution to this issue, the company has reduced the total exposure for this review to approximately $1.1 million. Moving over to the third quarter, we've provided net revenue guidance in the $34.5 million to $35.5 million range, all related to our core business. Our core revenue has guided up 24% to 28% over the third quarter of 2021. With that, I'm going to turn it back over to Casey to wrap things up.

Okay. Thank you, Todd. Looking back to the second quarter, we really began to see some interesting trends with our hospital and physician referral source partners. Hospital bed capacity seemed to be at an all-time high despite the relief around the country from the COVID patients filling beds. Yes, there was certainly pent-up demand from patients just getting back in to see their doctors, but our hospital partners are giving us no indication that they will be receiving any kind of relief anytime soon. Health systems are all expressing that the growing Medicare population is driving the majority of the hospital bed demand. Unfortunately, the health systems struggle with this demand as Medicare patients tend to be more needy, making them less profitable. This trend has ignited many hospital and home and strategic partnership conversations with home care providers across the country. At Viemed, we have been developing these programs for our hospital partners, and we'll continue to pursue a new way of treating more patients in the home and greater volumes. Our other strategy of treating patients at higher volumes is to partner with our payers through value-based and population health contracts. We've begun to see many technology-related platforms in great positions to collect and collaborate with leading disease management companies across the country. Rather than trying to be a company that treats every disease state for all people, these technology platform companies are looking to partner with leading disease management companies who can perform care with the human touch. Again, at Viemed, we are uniquely positioned as a respiratory thought leader who has the data that reflects cost savings and superior clinical care. In closing, our organic growth strategy is as strong as it's ever been and growing at a fast rate. We have proven that we can recruit and retain a best-in-class employee base to support our growth. While we are experiencing inflationary cost pressure, our management team is laser-focused on creating operational efficiencies that maximize our capacity to help reduce this exposure as we look to grow through this challenge. With the help of our diversification products, we have doubled our patient count since the pandemic began. So we have a huge opportunity to expand patient satisfaction and our clinically-oriented Viemed brand throughout the communities that we serve. Perhaps the most exciting piece to all of this is that we have yet to grow through acquisitions, and we see a major opportunity to do so in teaching our organic model to others as we bring them into the fold. With regulatory headwinds at an all-time low, the future seems extremely bright for Viemed. We thank all of you on the call who have placed your trust in our company, and we look forward to continuing to add shareholder value throughout 2022 and beyond. This concludes our prepared remarks. I want to thank everyone for taking the time to join our call today and look forward to answering further questions. Thank you.

At this time we will be conducting a question-and-answer session. Our first question comes from the line of Brooks O'Neil with Lake Street Capital Markets. You may proceed with your question.

Good afternoon, good morning, guys. Sorry I was sleeping on the job there. Good quarter, good progress. I'm excited for all you're doing.

Thank you. Thank you, Brooks.

So let's just talk about a couple of things. I'm guessing maybe one reason the stock is down today is the jump in the SG&A line. And you guys talked about it, what's going on, what you're doing to drive organic growth. But how do you think about that line in terms of the future? Are you thinking about absolute dollar levels? Are you thinking about SG&A as a percentage of the revenue you expect to get? And do you expect to continue to grow SG&A spending in absolute dollars aggressively for the rest of the year?

Yes, I'll take that, Brooks. The answer is, we think about it in both ways. We're always monitoring G&A as a percentage of our revenue. And that's just historically the way we've analyzed it and have not been as concerned about the gross amount, because revenue was always growing faster. I think we're in a period where we turned the organic engine on again, and it's always more expensive on the front end of our growth is what we've historically seen, along with inflationary items. I mean everything from hiring new people is costing more money, retaining people is costing more money, commissions are at an all-time high because growth is at an all-time high. And then the things like travel and fuel and all those things that are hitting us just combined to what I'd call somewhat of a perfect storm. We are managing that. We're looking at what we can stabilize from a headcount standpoint in the back half of the year and be very strategic to make sure that we're getting the revenue contribution out of our G&A dollars as much as possible. So we're not putting our head in the sand about it. We want to reverse the trend, but we're also not going to quit growing G&A, because it is the fuel for our future revenue growth. We're just going to have to be a little bit more diligent in the back half of the year to make sure we can get those margins back at a level where we want them to be.

Sure. That's perfect. I understand that. It sounds like you're doing all the right things. Let's talk just a little bit about the availability of labor. It doesn't sound like you're having difficulty finding good people out there, but comment on that, if you will, and the availability of equipment. Obviously, the Phillips recall, but doesn't sound like you're having great difficulty getting the equipment you need to service the patients, but talk about that, if you will.

Yes. We're making progress on both fronts. The work being done by Viemed Healthcare Staffing, our new division, is highly effective. They have developed a strong understanding of what characteristics define a successful Viemed sales representative, including respiratory therapists. We're very pleased that they were able to hire one-third of our workforce in the second quarter, and we anticipate that this number will grow. This will lessen the burden on our current internal recruiting efforts, which are primarily managed by our regional sales managers. It will allow them to oversee more personnel, hold more individuals accountable, and help onboard the new hires more rapidly. Our aim is for Viemed Healthcare Staffing to handle all recruiting efforts by 2023, as we currently share this responsibility. We're fortunate to have this resource, which alleviates the pressure of finding qualified individuals. As you know, Brooks, this is a key driver of our organic growth strategy. The quicker we can recruit salespeople, the faster we can launch new areas, which is why we've successfully added nine new areas this year. Regarding equipment, the situation remains unchanged from last quarter. We have the equipment necessary for our patients and have not faced any issues delivering it to those in need. Our inventory is stocked and ready to support future growth. When the Philips recall began, we decided to focus on acquiring patients nationwide instead of investing in distressed companies. Our goal was to reach patients who were on waiting lists and in need. We succeeded in doubling our patient count, particularly in the sleep segment since the onset of the pandemic. We're satisfied with our current position, and there are no constraints at this moment. However, we do have a slightly complicated internal process where we need to return machines to Philips for repairs, specifically to address issues related to the foam inside the machines before sending them back into the field. Fortunately, this process does not impact our referral sources or our patients.

Perfect. Let me ask you one more thing. I appreciate the information. It sounds like you have the OIG investigation mostly under control, with an estimated future exposure of $1.1 million. Can you discuss how you determine when to settle and move on, or if it's important to continue fighting for principles in this case?

It's really the latter. It's about our name at this point. The lift at this point is pretty minimal. We're down to just talking about eight patients, and we've already filed that with the ALJ. So basically, it's just us and a judge and anyone from the government discussing eight specific patients, which we feel very confident will result in a positive outcome. The time we've spent on this and the health expenses related to it are now minimal. We feel this whole issue is relatively in the past. However, we want to finish the race and clear our name. Ultimately, the most positive outcome for us and our industry is that we've learned from another audit that we're doing the right thing by treating the right patients. We've always been confident in that and have consistently said so. It's unfortunate we had to go through this situation, but it confirms that we've been doing the right thing, and we will continue to do so. While it doesn't require much work to finish, we are committed to completing this.

Okay. Makes sense. Let me just ask one more, sorry. So you hired these two guys from your neighbor at LHC Group, just talk a little bit more about the opportunity for acquisitions and whether you think it's the right time to be pulling the trigger on something here, this year, or into 2023?

Yes. We're very excited about Jeremy Trahan and Michael Freeman. We’ve made an official announcement for those on the call that would like to brush up on their backgrounds, but the short story is that these guys together were at the lead of over $1.9 billion worth of acquisitions for LHC and handled 100 acquisitions in-house. So they bring a lot of experience on just internal processes that we need to get ready to start flipping these fish into the boat for lack of a better term. We've got a target list that didn't get going on. They are developing a plan to really get to those folks. They're using a lot of their old contracts to start finding new targets for us as well. And so this is really the beginning of a dedicated team to the M&A strategy, whereas before, we were all somewhat moonlighting on that growth strategy. Now it's a dedicated team with direct responsibilities of acquiring folks and developing strategic partnerships with hospital partners and health systems throughout the country that we can be just more relevant to their continuum of care to the home. This is also something that they had experience within LHC. So we're just blessed to have that here in our small town Lafayette. They had a shakeup over there across the street with United purchasing them. And so the timing was right for them to come and really start what they did over there at Viemed all over from ground zero, if you will.

Great. Thank you very much for taking my questions.

Thanks, Brooks.

Our next question comes from the line of Doug Cooper with Beacon Securities. You may proceed with your question.

Good morning, everyone. I want to follow up on the SG&A topic. According to your MD&A, you had 715 full-time employees at the end of Q2 compared to 662 in Q1, which is an 8% increase, while G&A went up 10%. It seems that most of the headcount increase is in this area. How do you see staffing and full-time employment evolving in the next couple of quarters?

It's going to continue to grow as we continue to expand, but I think you're going to see the absolute headcount slow down some. We've really added quite a few positions that are related to these growing product lines. We've hired quite a few more oxygen or delivery drivers around the country as that business has expanded. We were stressing the RTs from a patient count standpoint, so we've had to hire some drivers. We've had to hire some more back-office people because like I said, we've doubled the rental patients. So it's just taking more people to do the task in the home office as well, billing, intake, working with insurance companies, all those types of things. So I think that we've hired a big wave of people to help with that growing patient base. So I don't see the absolute growth in the back half of the year that you've seen over the last quarter or two.

Maybe I'll come out in another way, too. So the revenue in the quarter is just over $33 million. Growth is back up to that sort of 25% plus. If I look out four quarters, and assuming the top line revenue growth continues, what kind of EBITDA flow through would you expect from that incremental revenue? In other words, can you get EBITDA margins, say, in four quarters from now back up to 22%, 23%. Is that a realistic target?

I can definitely say that's our goal. However, I can't confirm that as guidance. Another important factor is that we will see a CPI adjustment for the first quarter of '23, which will positively impact our bottom line. Although we are not relying solely on this to improve our margins, the inflation rate was 9.1% at the end of June. We will see what the actual adjustment is, but we expect a significant rate increase from CMS, which should benefit most of our commercial payers as well. Regardless of that, I can assure you that we will continue to grow revenue and begin normalizing G&A as a percentage. I believe you will see us work towards getting back to the low 20s in the coming few quarters.

Okay. Maybe just on that CPI adjustment. This quarter, revenue per active vent patient on an annual basis was by my calculation, $14,625, which is a record and that's up from $13,270 last year. And I guess part of that is due to maybe some product mix. Or how high can that vent per average patient really be?

Yes, we experienced a decrease from 79% in the second quarter of 2021 to a contribution of 69% from vents. The increase in PAPs, oxygen, and vents accounts for an additional 10 percentage points, which will certainly boost that figure. The revenue per vent patient will be influenced by how much we receive in reimbursement for vents and the percentage that ancillary products contribute. It could potentially increase significantly if we reach a 50-50 split. However, our current objective is to see vents grow at a pace similar to these other product lines. This will enhance our margins and demonstrate that these additional products are effectively bringing patients into the Viemed cycle earlier in their disease progression.

And speaking of vent patients, you finished the quarter with 8,837. Is that a number you think by the end of the year can sort of be north of 9,000, 9,200, 9,300, is that a possible number?

Absolutely. I mean, look, we grew at 400 sequentially. We're not taking our foot off the gas on that. I would like to think that we can do that again this quarter and hopefully next, but we'll just have to wait and see.

Okay. And my final question on mergers and acquisitions. You mentioned before that you are not considering acquiring a company that operates within your core competency or another ventilator company. What specific sectors are you targeting?

Well, I mean, that's not entirely true. We would consider another vent company as well in a region that we're not in with insurance contracts that we don't have, Doug. So we don't turn our nose up to just a strictly vent company, but we're still looking for respiratory type durable medical equipment businesses that are inclusive of the majority of the products that we sell. We know that we might pick up a product line or two that we don't really manage over here at Viemed, but we certainly have the legacy DME knowledge and the teammates here in-house to work through all of those processes. But we're really looking at all DMEs throughout the country at this point just to see if we can find a good fit.

Okay. Maybe my last, sorry, my last one. You mentioned as you're in nine new territories. Can you just remind us how many states you're in right now? And what states you would like to enter in the next, call it, 12 months?

Doug, the last time I checked, we were at around 45 states, but it might be higher now. I have a feeling it could be 48 states at the moment, but don’t hold me to that. However, we are quite close to achieving full coverage in the lower 48 states.

Okay. So specifically, from a mergers and acquisitions perspective, if you're considering a company that operates in a region where you currently have less presence or weaker strength, what would the significance of that region be?

I'll just give you an example, like New York State is a state that we would have to have a brick-and-mortar facility with a working storefront and so on and so forth. We have patients in that state, and we have therapists in that state treating folks. So technically, we would call that a state that we're in. However, we're not really doing the business that we know we need to be doing in New York State. We made a strong push in Florida. I think we've got some really good coverage now in Florida. That used to be a state that we weren't in, but we might have four or five, maybe six reps, something like that in Florida right now that are really doing well. And in California, still weak for us. We've got a couple of people over there and a handful of patients, but by no means are we making any movements in California. So these are good areas that are examples of where we might seek an M&A opportunity.

Okay. Sorry, one more if I can, just Phillips came out the other day, I guess it was a week or so ago, and we gave some sort of positive outlook on fixing the recall issue. ResMed stock has certainly perked up over the past couple of weeks, maybe on the back of that. Can you just talk a little bit about the supply should you see it easy at all?

On the vent side, we haven't experienced any issues. As Casey mentioned during the call, we are in the process of repairing the foam, which we have transferred back to Philips, and that work is ongoing. Regarding the PAP side, we haven't seen new PAP shipments yet, but we expect that the formal guidance from Philips will come later in the fourth quarter. We should have the capability to work with Philips again. We have been proactive on the path side, making acquisitions and establishing a solid distribution early on. So, fortunately, we haven't faced that issue, but it would be beneficial to have Philips back involved in the PAP area to address the supply challenges we are facing.

Okay, great. Thanks. Thanks, guys.

I bet.

Our next question comes from the line of Prasath Pandurangan with Bloomberg. And you may proceed with your questions.

Hi, good morning. Thanks for taking the questions. First, you've talked about the evolving product mix. Could you expand a little bit specifically in terms of the near-term guidance about the mix of ventilator and other durable medical equipment rentals going forward and the impact of this on margins?

Yes, I would expect to continue to see a little bit of increased contribution from the oxygen and sleep businesses as we are seeing the benefits of our sales force around the country distributing that. But the vent patient growth that we saw in this quarter and what we're kind of seeing coming in the third quarter, to me, is showing a stabilization of that percentage sum. I don't exactly know quarter-to-quarter where it's going to go, but I could see it trickling down a little, but I don't see it going down 10%, like it has over the last 12 months. That's just rapid growth from the other products. So if we stay close to where we are or down a little bit, that will put a little bit of continued margin pressure on our percentages. Obviously, the notional amounts are going to keep going up. But I think that kind of like what I was telling either Brooks or Doug earlier, I think the offset is that the G&A is going to stabilize as we've ramped up headcount for those divisions. I think we've got a pretty good crew of people at this point to adequately take on more growth. And so I would expect over time our margins to start creeping back up.

Yes. Yes, that sounds fair. And could you talk about potential COVID response sales in the future as the disease becomes more endemic, with periodic spikes due to new variants, as we head into the fall?

Yes. We are optimistic that the widespread demand for our COVID services is behind us. We have always acknowledged that it was beneficial while it lasted, but we are focused on ensuring patient and physician access. From an inventory perspective, we are fully prepared to support different facilities. Additionally, regarding our call center, we have the capability to reactivate it quickly, as we possess the necessary experience. These were the main drivers of our revenue, and we do not foresee an increasing demand for those services at this time. However, we are prepared to respond if hotspots emerge requiring assistance. With Viemed Healthcare Staffing operational and effectively delivering its services, we can offer our support if there are COVID hotspots that require help.

Great. Thank you.

Thanks.

Ladies and gentlemen, we have reached the end of today's question-and-answer session. I would like to turn this call back over to Mr. Casey Hoyt for closing remarks.

Okay. Thanks, everyone, for joining the call. We appreciate your participation and certainly appreciate the thoughtful questions coming from everyone as well. Let us know if we can be of help, feel free to reach out. Thank you.

This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation, enjoy the rest of your day.