Medical Properties Trust Inc Q3 2023 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst : Steve or Rosa, can you provide some additional color on Steward's working capital problems right now that you mentioned? I know that you highlight there has been some improvement, but does Steward need to make additional improvements to kind of narrow the differences between the cash and GAAP results?

Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst : And can you talk about some of the issues right now with those receivables? I mean are there concerns that they have receivables on the books that can't be collected or going to be collected at a lower rate that's currently out there? Rosa H. Hooper - Medical Properties Trust, Inc. - Senior VP of Operations, Assistant Secretary and MD of Asset Management & Underwriting Sure, Michael. So there is no concern at this time that they will not be collected. There have been system changes and so the technology is in place now. They have the people that they need. And so there is no concern that it will -- there will have to be write-offs surrounding the accounts receivable. They are working denials. Their denials have been higher than they have wanted them to be and higher than they should be and they are putting procedures in place to address that. But no, there's no concern that they will not be ultimately collectible. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 26, 2023 / 3:00PM, MPW.N - Q3 2023 Medical Properties Trust Inc Earnings Call

Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst : Okay. Great. And then just last one for me. I mean, how are these receivables accounted for in your GAAP coverage ratios? I mean are they accounted for at the billable amount? Or is it being recognized at some lower, more likely collectible type level? Rosa H. Hooper - Medical Properties Trust, Inc. - Senior VP of Operations, Assistant Secretary and MD of Asset Management & Underwriting No, it's a net revenue. It's typical in healthcare.