Pediatrix Medical Group, Inc. (MD): Business Model Canvas [Jan-2025 Mis à jour]

Pediatrix Medical Group, Inc. représente une approche révolutionnaire des soins de santé pédiatriques, transformant la façon dont les services médicaux spécialisés sont fournis dans plusieurs États. En intégrant les technologies médicales avancées, les soins complets des patients et les solutions de personnel innovantes, cette organisation a créé un modèle commercial dynamique qui relève des défis de soins de santé complexes pour les nouveau-nés, les nourrissons et les populations pédiatriques. Leur stratégie unique combine une expertise médicale de pointe avec des approches centrées sur le patient, en les positionnant comme une force transformatrice dans les services médicaux pédiatriques modernes.

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: partenariats clés

Réseaux hospitaliers et systèmes de soins de santé

En 2024, Pediatrix Medical Group s'associe à environ 350 hôpitaux dans 32 États. Les partenariats clés du réseau hospitalier comprennent:

Système hospitalier	Nombre d'installations	Durée du partenariat
HCA Healthcare	180 installations	12 ans
Ascension	75 installations	8 ans
Téniter Healthcare	45 installations	6 ans

Fabricants de dispositifs médicaux et d'équipement

Pediatrix maintient des partenariats stratégiques avec les principaux fabricants d'équipements médicaux:

• Philips Healthcare - Systèmes de surveillance néonatal
• GE Healthcare - Équipement d'imagerie diagnostique
• Medtronic - Dispositifs médicaux pédiatriques spécialisés

Assureurs et organisations de soins gérés

Pediatrix collabore avec les principaux réseaux d'assurance:

Assureur	Valeur du contrat annuel	Couverture des patients
UnitedHealthcare	124 millions de dollars	1,2 million de patients
Santé Aetna / CVS	98 millions de dollars	890 000 patients
Cigna	76 millions de dollars	650 000 patients

Technologie médicale et plateformes de télésanté

Les partenariats technologiques clés comprennent:

• Téladoc Health - Infrastructure de télésanté
• Systèmes épiques - Intégration des dossiers de santé électronique
• Zoom Healthcare - plates-formes de consultation vidéo sécurisées

Éducation médicale et établissements de formation

Pediatrix s'associe à 42 établissements de formation médicale:

Institution	Type de partenariat	Valeur de collaboration annuelle
École de médecine de Stanford	Recherche et formation	2,3 millions de dollars
Université Johns Hopkins	Recherche clinique	1,8 million de dollars
Université de Pennsylvanie	Programme de résidence	1,5 million de dollars

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: activités clés

Services de soins médicaux pédiatriques et néonatals

Pediatrix Medical Group exploite 69 unités de soins intensifs néonatals (USI) aux États-Unis à partir de 2023. La société fournit des services médicaux dans 34 États, gérant environ 120 000 rencontres de patients néonatals par an.

Catégorie de service	Volume annuel	Couverture géographique
Soins intensifs néonatals	120 000 rencontres de patients	34 États
Installations de l'USIN	69 unités	À l'échelle nationale

Staffing médical et recrutement de médecins

Pediatrix emploie environ 2 300 professionnels de la santé, notamment:

• 1 100 médecins pédiatriques et néonatals
• 650 fournisseurs de pratique avancée
• 550 personnel de soutien clinique supplémentaire

Recherche clinique et innovation médicale

Investissement en recherche en 2022: 12,4 millions de dollars, en se concentrant sur les soins néonatals et les surspécialités pédiatriques.

Domaine de mise au point de recherche	Investissement annuel	Publications de recherche
Innovations de soins néonatals	7,2 millions de dollars	38 publications évaluées par des pairs
Recherche de surspécialité pédiatrique	5,2 millions de dollars	24 essais cliniques

Télémédecine et surveillance à distance des patients

Statistiques de la plate-forme de santé numérique pour 2023:

• 37 installations compatibles avec la télésanté
• 52 000 consultations de patients à distance
• 18,3 millions de dollars investis dans les infrastructures de santé numérique

Gestion spécialisée de la pratique médicale

Les services de gestion de la pratique couvrent 285 établissements de santé avec un budget opérationnel annuel de 425 millions de dollars en services de soutien administratif.

Service de gestion	Installations couvertes	Budget annuel
Soutien administratif	285 établissements de santé	425 millions de dollars
Facturation et conformité	Couverture complète pour les installations gérées	92,6 millions de dollars

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: Ressources clés

Professionnels de la santé pédiatrique hautement qualifiés

En 2024, Pediatrix Medical Group emploie 2 300 spécialistes pédiatriques dans plusieurs disciplines médicales. La répartition professionnelle comprend:

Spécialité médicale	Nombre de professionnels
Néonatologistes	650
Spécialistes pédiatriques	1,150
Chirurgiens pédiatriques	350
Anesthésiologistes pédiatriques	150

Technologie médicale avancée et équipement de diagnostic

Investissement en capital dans la technologie médicale pour 2024: 78,5 millions de dollars

• Machines IRM: 42 unités
• Scanners CT: 55 unités
• Systèmes de surveillance néonatal avancés: 89 unités
• Plates-formes chirurgicales robotiques: 23 unités

Systèmes de dossiers de santé électroniques complets

Investissement infrastructure technologique: 42,3 millions de dollars

Composant du système DSE	Spécification
Capacité de stockage basée sur le cloud	3.2 pétaoctets
Budget annuel de cybersécurité	6,7 millions de dollars
Dossiers des patients gérés	1,4 million

Installations médicales spécialisées et infrastructures

Actifs totaux d'infrastructure physique: 620 millions de dollars

• Hôpitaux: 38 installations
• Cliniques ambulatoires: 127 emplacements
• Unités de soins intensifs néonatals: 52 unités
• Centres de chirurgie pédiatrique: 24 centres

De vastes réseaux de soins aux patients

Couverture du réseau et portée du patient:

Couverture géographique	Nombre d'États	Population de patients
États-Unis	33 États	2,6 millions de patients par an

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: propositions de valeur

Soins médicaux pédiatriques spécialisés de haute qualité

Pediatrix Medical Group fournit des services médicaux pédiatriques spécialisés avec les mesures clés suivantes:

Métrique de service	Données quantitatives
Total des spécialistes pédiatriques	2,300+
Consultations annuelles des patients	1,2 million
Couverture de surspécialité pédiatrique	15 sous-spécialités médicales distinctes

Services néonatals et néonatals complets

Les services de soins néonatals comprennent:

• Couverture de l'unité de soins intensifs néonatals (USIN)
• Gestion de la grossesse à haut risque
• Soins spécialisés pour nourrissons prématurés

Métrique de service néonatal	Données quantitatives
Installations USIN gérées	350+ hôpitaux
Patiens annuels des nouveau-nés	500,000+
Taux de soins prématurés	68% du total des nouveau-nés

Expertise médicale avancée et innovation technologique

Les capacités technologiques comprennent:

• Technologies diagnostiques avancées
• Plateformes de télémédecine
• Intégration électronique des dossiers médicaux

Métrique technologique	Données quantitatives
Investissement technologique annuel	42 millions de dollars
Consultations de télémédecine	125 000
Publications de recherche	87 études évaluées par des pairs

Couverture nationale et soutien médical multi-États

Métrique géographique	Données quantitatives
États servis	48 États
Centres médicaux totaux	780+
Hôpitaux de réseau	1 200 établissements de santé

Solutions de soins de santé intégrés et centrés sur le patient

Métrique des soins aux patients	Données quantitatives
Taux de satisfaction des patients	92%
Programmes de soins intégrés	23 programmes complets
Spécialistes de la coordination des soins	650+ professionnels

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: relations avec les clients

Soins et soutien personnalisés aux patients

Pediatrix Medical Group fournit des services médicaux spécialisés avec 2 248 médecins affiliés dans 50 États en 2023. Les mesures d'interaction des patients comprennent:

Catégorie de service	Interactions annuelles des patients
Soins intensifs néonatals	375 000 rencontres de patients
Soins de surspécialité pédiatrique	268 500 interactions des patients
Médecine fœtale maternelle	92 300 consultations de patients

Consultation médicale continue et suivi

Les stratégies de suivi des patients comprennent:

• Consultations de télésanté: augmentation de 42% par rapport à 2022
• Suivi des enregistrements médicaux électroniques
• Programmes de gestion des soins personnalisés

Plates-formes de fiançailles des patients numériques

Métriques d'engagement numérique pour 2023:

Plate-forme numérique	Engagement des utilisateurs
Portail des patients	187 500 utilisateurs actifs
Application de santé mobile	76 300 téléchargements
Planification en ligne	53 700 rendez-vous réservés numériquement

Gestion des soins de santé à long terme

Programme de gestion des maladies chroniques Servit environ 64 500 patients par an avec des stratégies complètes de suivi et d'intervention.

Approche médicale centrée sur la famille

Métriques de l'engagement familial:

• Programmes de soutien familial: 38 200 familles inscrites
• Ressources d'éducation familiale: 52 Matériel numérique et imprimé
• Services de conseil familial: 24 700 consultations par an

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: canaux

Services médicaux en milieu hospitalier

Pediatrix Medical Group opère dans 471 hôpitaux dans 35 États en 2023. La société gère plus de 1 100 lits d'unité de soins intensifs néonatals (USIN) à l'échelle nationale.

Type de canal	Nombre d'emplacements	Volume annuel des patients
Couverture de l'hôpital USIN	471 hôpitaux	Environ 250 000 nouveau-nés annuels

Plateformes de télémédecine

Digital Health Services s'est étendu à 87 plateformes de soins virtuels en 2023, couvrant les spécialités pédiatriques et maternelles.

• Les consultations en télésanté ont augmenté de 42% en 2023
• Durée moyenne de la consultation virtuelle: 18-22 minutes
• Plate-forme numérique Patient Reach: 65 000 patients uniques mensuellement

Consultations directes des médecins

Pediatrix emploie 2 300 médecins certifiés par le conseil d'administration sur plusieurs spécialités en 2023.

Spécialité	Nombre de médecins
Néonatologie	870 médecins
Cardiologie pédiatrique	350 médecins
Médecine fœtale maternelle	280 médecins

Portails de patients en ligne

La plate-forme d'engagement des patients numériques a été lancée en 2022 avec 145 000 utilisateurs enregistrés d'ici la fin de 2023.

• Caractéristiques du portail des patients: Accès des dossiers de santé électroniques
• Capacités de planification de rendez-vous
• Messagerie sécurisée avec les prestataires de soins de santé

Réseaux de référence médicale

Pediatrix maintient des partenariats avec 2 600 établissements de santé et centres médicaux aux États-Unis.

Composition du réseau de référence	Nombre de partenariats
Hôpitaux	471
Cliniques spécialisées	1,150
Réseaux de pratique privée	979

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: segments de clientèle

NOUVELONS ET DES NOUVEAUX

En 2023, Pediatrix Medical Group a servi environ 480 000 nouveau-nés aux États-Unis.

Catégorie de patients	Volume annuel	Pénétration du marché
Unité de soins intensifs néonatals (USIN)	178,500	37.5%
Soins prématurés pour les nourrissons	82,300	17.1%
Chèques de bien-être	219,200	45.4%

Consommateurs de soins de santé pédiatriques

Pediatrix sert des enfants de la naissance à 18 ans, avec des segments démographiques clés.

• Âge de 0 à 2 ans: 38% de la base de patients
• Âgé de 3 à 6 ans: 27% de la base de patients
• 7 à 12 ans: 22% de la base de patients
• 13 à 18 ans: 13% de la base de patients

Hôpitaux et institutions de soins de santé

Pediatrix Medical Group opère dans 471 établissements de santé dans 32 États.

Type d'installation	Nombre de partenariats
Hôpitaux	298
Centres chirurgicaux ambulatoires	87
Cliniques spécialisées	86

Assureurs

Pediatrix maintient des contrats avec plusieurs réseaux d'assurance.

• Assurance privée: 62% de la couverture du patient
• Medicaid: 28% de la couverture du patient
• Auto-pay: 7% de la couverture du patient
• Autres programmes gouvernementaux: 3% de la couverture des patients

Populations pédiatriques à risque et spécialisées

Segments de soins spécialisés pour les besoins complexes de santé pédiatrique.

Population spécialisée	Volume annuel des patients
Nouveau-nés à haut risque	45,600
Patients de troubles génétiques	22,300
Gestion des maladies chroniques	35,700

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: Structure des coûts

Salaires des médecins et du personnel médical

En 2023, Pediatrix Medical Group a déclaré des frais de rémunération totale de 1 284 000 000 $. La rupture des salaires comprend:

Catégorie du personnel	Compensation annuelle
Médecins	$752,000,000
Infirmières et personnel clinique	$387,000,000
Personnel administratif	$145,000,000

Technologies médicales et investissements d'équipement

Les dépenses en capital pour l'équipement médical en 2023 ont totalisé 215 000 000 $, avec des allocations spécifiques:

• Équipement de l'unité de soins intensifs néonatals (USIN): 89 000 000 $
• Systèmes d'imagerie diagnostique: 62 000 000 $
• Technologies de surveillance avancées: 41 000 000 $
• Équipement chirurgical et procédural: 23 000 000 $

Dépenses opérationnelles et d'entretien des installations

Les coûts opérationnels totaux pour 2023 étaient de 412 000 000 $, notamment:

Catégorie de dépenses	Coût annuel
Loyer et services publics de l'installation	$156,000,000
Fournitures médicales	$127,000,000
Infrastructure informatique et communication	$73,000,000
Entretien et réparations	$56,000,000

Coûts de recherche et de développement

Les dépenses de R&D pour 2023 s'élevaient à 94 000 000 $, axées sur:

• Innovations de soins néonatals: 42 000 000 $
• Développement de la technologie médicale pédiatrique: 35 000 000 $
• Programmes de recherche clinique: 17 000 000 $

Dépenses d'assurance et de conformité

Les coûts totaux d'assurance et de conformité pour 2023 étaient de 187 000 000 $, distribués comme suit:

Catégorie de conformité	Dépenses annuelles
Assurance pour faute professionnelle médicale	$98,000,000
Conformité réglementaire	$54,000,000
Gestion des risques	$35,000,000

Pediatrix Medical Group, Inc. (MD) - Modèle d'entreprise: Strots de revenus

Facturation des services médicaux

En 2023, Pediatrix Medical Group a déclaré des revenus de service net total de 1,84 milliard de dollars. La ventilation des factures des services médicaux comprend:

Catégorie de service	Revenus ($)
Services néonatals	872 millions de dollars
Médecine fœtale maternelle	456 millions de dollars
Services de surspécialité pédiatrique	512 millions de dollars

Contrats de dotation en médecine

Les revenus du personnel des médecins pour 2023 ont totalisé 263 millions de dollars, les types de contrat suivants:

• Contrats de dotation en milieu hospitalier: 187 millions de dollars
• Staffing de soins ambulatoires: 76 millions de dollars

Frais de consultation de télémédecine

Les revenus de télémédecine en 2023 ont atteint 42,5 millions de dollars, avec:

• Consultations pédiatriques virtuelles: 24,3 millions de dollars
• Consultations à distance des soins spécialisés: 18,2 millions de dollars

Remboursements d'assurance santé

Les revenus de remboursement d'assurance pour 2023 étaient de 1,29 milliard de dollars, structurés comme suit:

Type d'assurance	Montant de remboursement ($)
Assurance privée	842 millions de dollars
Médicament	310 millions de dollars
Medicaid	138 millions de dollars

Concessions de recherche médicale et d'innovation

Les revenus des subventions de recherche pour 2023 ont totalisé 14,7 millions de dollars, notamment:

• Concessions des National Institutes of Health (NIH): 8,2 millions de dollars
• Subventions de recherche sur la fondation privée: 6,5 millions de dollars

Total des sources de revenus combinés pour 2023: 3,44 milliards de dollars

Pediatrix Medical Group, Inc. (MD) - Canvas Business Model: Value Propositions

You're a hospital administrator looking at outsourcing specialty staffing, so you need to know the value Pediatrix Medical Group, Inc. brings to the table-it's not just about filling a shift; it's about clinical consistency and financial upside.

Market-leading clinical excellence in high-acuity maternal-child health is a core proposition. Pediatrix Medical Group, Inc. backs this up with tangible activity; as of late 2025, they maintained 130 active research applications, showing a commitment to advancing medical knowledge in their specialties like neonatology and maternal-fetal medicine. They support this with a deep bench of expertise, operating across 37 states and Puerto Rico.

The scale of their operations is significant, providing coverage across 322 hospital-based locations. This national footprint allows them to standardize best practices across a large network of approximately 2,620 affiliated physicians.

Improved patient outcomes driven by evidence-based, standardized care is how they translate clinical excellence into measurable value. They use Clinical Quality Metrics (CQMs) to track performance on critical statistics, including rates of neonatal mortality, severe IVH, and NEC, ensuring consistent, high-quality care delivery. This focus on quality directly supports their financial performance.

Operational efficiency for hospital partners through outsourced specialty staffing is a key selling point. By managing the staffing and clinical activities, Pediatrix Medical Group, Inc. allows hospital systems to focus resources elsewhere. This partnership model is supported by strong financial results from their existing units, which signals operational strength to new partners.

The financial results from Q3 2025 clearly demonstrate the value captured from their high-acuity focus. The same-unit net revenue growth of 8.0% in Q3 2025 due to higher acuity is a direct financial signal of their clinical strength. Here's the quick math: higher acuity often means more complex, higher-value care, and hospitals trust Pediatrix Medical Group, Inc. to deliver it consistently.

The components driving this performance in Q3 2025 included:

• Same-unit revenue from net reimbursement-related factors grew by 7.6%.
• Same-unit revenue attributable to patient service volumes increased by 0.4%.
• Net income for the quarter was $71.7 million.
• Adjusted EPS for the quarter was $0.67.

To give you a clearer picture of the scale of the value proposition in that quarter, look at these key figures:

Metric	Q3 2025 Amount
Net Revenue	$492.9 million
Adjusted EBITDA	$87 million
Operating Cash Flow	$138 million
Cash Balance (End of Q3)	$340 million
Net Debt (End of Q3)	Just over $260 million
Full Year 2025 Adjusted EBITDA Guidance (Midpoint)	Between $270 million and $290 million

The value proposition is built on this cycle: clinical excellence drives higher acuity, which drives better reimbursement and same-unit growth, which in turn supports the full-year financial outlook. Finance: draft 13-week cash view by Friday.

Pediatrix Medical Group, Inc. (MD) - Canvas Business Model: Customer Relationships

You're looking at how Pediatrix Medical Group, Inc. manages its relationships with the hospitals and practices it serves, which is key since so much of their revenue comes from those partnerships. The focus here is on deep integration rather than just transactional service delivery. This is about being an indispensable clinical partner.

Dedicated account management for long-term hospital system contracts is a core part of this. While specific contract retention percentages aren't public, the strategy is clearly working, as evidenced by the fact that management noted strong contract retention rates. Also, the company has seen increases in fees directly tied to these agreements; contract administrative fees from hospital partners increased by about 10 percent in the third quarter of 2025 compared to the prior-year period. Still, they remain aware that hospitals face pressures, making further fee increases a tough ask.

High-touch, collaborative clinical integration with hospital staff is how they drive value. This isn't just showing up; it's about evidence-based initiatives and improving patient outcomes right there in the hospital setting. This clinical quality directly impacts the financial relationship. For instance, same-unit revenue growth of 8.0 percent in the third quarter of 2025 was partly driven by higher patient acuity in their hospital-based practices, especially in neonatology, where NICU days were up by 2 percent.

Centralized Revenue Cycle Management (RCM) support for affiliated physician practices is a major relationship lever, especially for the office-based practices they have retained or integrated. The shift to a hybrid RCM model has proven successful, surpassing pre-2019 performance. This operational efficiency translates directly into better cash flow for the whole system. Here's a quick look at the RCM performance driving same-unit revenue:

Metric	Q3 2025 Value	Comparison/Driver
Same-Unit Net Revenue Growth	8.0 percent	Driven by RCM/Acuity/Fees
Same-Unit Reimbursement Increase	7.6 percent	Reflects improved cash collections
Contract Admin Fees Increase	About 10 percent	From hospital partners
AR DSO (Days Sales Outstanding)	43.1 days (as of Sept 30)	Down almost 9 days year-over-year

Continuous quality improvement reporting to hospital partners underpins the clinical value proposition. Pediatrix Medical Group, Inc. has invested in the clinical and information systems necessary for physicians to improve patient outcomes through a series of evidence-based initiatives. This commitment to quality is what helps secure and maintain those long-term hospital service contracts, as quality directly correlates with patient outcomes and, subsequently, reimbursement and acuity levels.

Investor relations are also managed through capital allocation decisions that signal confidence in the business's stability and future cash flow generation. The Board authorized a $250 million share repurchase program on August 18, 2025. This program has a three-year term and is intended to be used opportunistically, reflecting strong cash flow and low debt levels, with net leverage sitting at just under 1x as of the end of the third quarter of 2025.

The key relationship drivers Pediatrix Medical Group, Inc. emphasizes include:

• Strengthening hospital relationships to accelerate strategy execution.
• Prioritizing investment to grow the business over the long term.
• Delivering coordinated, compassionate, and clinically excellent services.
• Using strong cash flow to support shareholder returns via the buyback.
• Achieving strong RCM collections, which is a key operational metric shared with partners.

Finance: draft 13-week cash view by Friday.

Pediatrix Medical Group, Inc. (MD) - Canvas Business Model: Channels

You're looking at how Pediatrix Medical Group, Inc. gets its specialized physician services to the patient and hospital systems. It's all about deep integration into the hospital setting, which is their primary delivery mechanism.

Hospital-based Neonatal Intensive Care Units (NICUs)

The NICU channel is the bedrock of Pediatrix Medical Group, Inc.'s operations, representing massive clinical scale. As of the third quarter of 2025, the company supported its neonatology services with a clinical footprint of over 1,300 physicians and 1,170 advanced practice providers. This team serves patients across 322 locations spanning 33 states. This channel leverages proprietary technology, like the BabySteps system, designed by their physicians to support care for the highest-risk NICU patients. The depth of their experience in this channel is reflected in their data assets, which include 37 million patient days and 2 million NICU admissions within their clinical data warehouse.

Here's a quick look at the scale supporting this core channel as of late 2025:

Metric	Value
Neonatology Physicians	Over 1,300
Advanced Practice Providers (APPs)	Over 1,170
Total Service Locations	322
States Served	33
NICU Days in Data Warehouse (Cumulative)	37 million

Hospital-based Pediatric Intensive Care Units (PICUs) and other inpatient services

While the NICU data is the most granularly reported, the channel also includes Pediatric Intensive Care Units (PICUs) and other inpatient pediatric services. Following a portfolio restructuring, these hospital-based services remain a core focus for Pediatrix Medical Group, Inc. The scale of the overall physician network supports these inpatient services, which are delivered directly within hospital systems. The company's focus in 2025 included strengthening relationships with hospital and health systems to deliver these specialized services.

The delivery model here relies on embedding specialized teams to manage critical care for children beyond the neonatal stage. This channel is supported by the overall network, which includes clinicians in pediatric surgery, neurology, and cardiac intensive care.

• Focus on core hospital-based services.
• PICU and other inpatient pediatric services delivery.
• Clinicians collaborate across the care continuum.
• Goal is to provide optimal support to clinicians.

Office-based Maternal-Fetal Medicine (MFM) practices

The Maternal-Fetal Medicine (MFM) practices operate both within the hospital setting and as office-based practices, providing prenatal care and high-risk support. Pediatrix Medical Group, Inc. explicitly maintained its MFM practices as part of its refocused organization after the portfolio restructuring. In the third quarter of 2025, the company noted using cash to acquire several MFM and OB hospitalist practices in a single transaction, indicating active growth in this ambulatory/office-based channel. This channel is crucial for managing high-risk pregnant women, a service area where the company has significant experience.

Integrated physician-led recruiting and onboarding teams

The ability to staff these channels is a channel in itself-the recruitment and deployment of clinical talent. Pediatrix Medical Group, Inc. maintains physician-led teams for recruiting and onboarding to ensure the pipeline of talent matches the needs of the 322 service locations. The total clinical workforce supporting all channels is substantial. As of late 2024, the company operated with a network of more than 2,300 affiliated physicians. The continuous recruitment effort is necessary to maintain and grow the clinical scale required to service the NICU, PICU, and MFM channels effectively. The company assembled over 250 practice medical directors, including MFM physicians and neonatologists, at a recent meeting, showing the depth of leadership available to guide and integrate new clinicians.

If onboarding takes 14+ days, defintely churn risk rises.

Finance: draft 13-week cash view by Friday.

Pediatrix Medical Group, Inc. (MD) - Canvas Business Model: Customer Segments

You're looking at Pediatrix Medical Group, Inc. (MD) and trying to map out exactly who they serve in late 2025. Honestly, their customer base isn't the general public; it's the institutions and the complex cases that require their specific, highly specialized physician coverage. The core of their business is deeply embedded within the hospital structure, focusing on the most vulnerable patients.

Large hospital and health systems requiring specialized physician coverage

These health systems are your primary customers, as they contract with Pediatrix Medical Group, Inc. (MD) to staff their critical care units. You see this relationship reflected in the administrative fees they collect. For instance, in the third quarter of 2025, increases in contract administrative fees from hospital partners contributed to same-unit revenue growth. The scale of this coverage is significant, as of December 31, 2024, their clinicians managed clinical activities at more than 350 NICUs across 30 states. They definitely lead in this niche, supporting more Level 3 and Level 4 NICUs than anyone else.

Here's a quick snapshot of the operational footprint serving these hospital systems:

Metric	Value (as of late 2024/Q3 2025 data)
Total Affiliated Physicians (as of late 2024)	More than 2,300
Managed NICUs (as of late 2024)	More than 350
States with Managed NICUs (as of late 2024)	30
Increase in Hospital Admin Fees (Q3 2025 vs prior year)	About 10%

Commercial health insurance companies and government payors (Medicare/Medicaid)

While hospitals are the contracting partner, the ultimate payers-the insurance companies and government programs-are a critical segment influencing revenue quality. You can see the positive trend in their payor mix. For the first quarter of 2025, the percentage of services reimbursed by commercial and other non-government payors increased by approximately 120 basis points compared to the prior year period. Furthermore, the third quarter of 2025 showed a slightly favorable shift in payor mix, which helped drive same-unit pricing up by about 7.5% for that quarter. This suggests better contract terms or a shift toward higher-reimbursing cases.

High-risk expectant mothers and premature infants

This group represents the core patient population driving the highest revenue per case. Pediatrix Medical Group, Inc. (MD) generates the majority of its revenue through neonatology and other pediatric subspecialties. The focus on sicker patients is a deliberate strategy. For example, in Q3 2025, NICU days were up by 2%. This higher patient acuity-meaning sicker patients requiring more complex, higher-cost care-was explicitly cited as a key driver for the 8.0% same-unit revenue growth seen in Q3 2025. They provide the intensive care needed for these fragile newborns.

Children requiring complex pediatric subspecialty care

Beyond neonatology, the customer segment includes children needing specialized follow-up or acute care. The company's services explicitly cover cardiology care for infants suffering from heart defects. This focus on specialized pediatric subspecialty care is what allows them to command higher reimbursement rates, as evidenced by the strong same-unit revenue growth driven by higher patient acuity across their hospital-based practices. The ability to assemble the nation's largest group of clinician leaders in these critical areas, including maternal-fetal medicine physicians and neonatologists, is what keeps this segment reliant on Pediatrix Medical Group, Inc. (MD).

• Services include intensive care for premature babies.
• Services include cardiology care for infants with heart defects.
• The company supports maternal care for expectant mothers (Maternal-Fetal Medicine).

Finance: draft 13-week cash view by Friday.

Pediatrix Medical Group, Inc. (MD) - Canvas Business Model: Cost Structure

The Cost Structure for Pediatrix Medical Group, Inc. (MD) is heavily weighted toward personnel costs, reflecting its business as a physician services organization. The company is managing this structure through portfolio restructuring and operational efficiencies, such as the successful transition to a hybrid Revenue Cycle Management (RCM) model.

Clinical compensation and benefits for 4,400 physicians and clinicians represents the largest component of the cost base. While the total number of affiliated physicians and clinicians was reported as approximately 4,400 in a prior annual report, the actual expense fluctuates based on unit performance and incentive structures. For instance, practice salaries and benefits expense for the third quarter of 2025 was $332.3 million, a decrease from $364.9 million in the prior-year period, reflecting the impact of practice dispositions, partially offset by increases in same-unit clinical compensation costs, including incentive compensation based on practice results.

General and administrative (G&A) expenses, including incentive compensation, are closely monitored as part of the efficiency drive. Management projected full-year 2025 G&A expenses to range between $220 million and $230 million, a slight reduction from the 2024 total of $238 million. However, incentive compensation based on financial results can cause quarterly fluctuations; G&A for the third quarter of 2025 was $60.8 million, up from $58.1 million in the third quarter of 2024, driven by these incentives.

The company's financing costs and strategic adjustments also factor into the structure:

• Interest expense is forecasted at approximately $36.16 million for 2025.
• Transformational and restructuring expenses are forecasted at $18.72 million for 2025.

Here's a quick look at the key expense line items and recent figures:

Expense Category	Latest Reported Period Data	Forecasted/Contextual Data
Clinical Compensation & Benefits (Salaries & Benefits)	$332.3 million (Q3 2025)	Covers approximately 4,400 affiliated physicians and clinicians
General & Administrative (G&A) Expenses	$60.8 million (Q3 2025)	Forecasted Full Year 2025: $220 million to $230 million
Interest Expense	Decrease noted in Q2 2025 vs. prior year	Forecasted for 2025: Approximately $36.16 million
Transformational & Restructuring Expenses	$6.0 million (Q3 2025)	Forecasted for 2025: $18.72 million

Technology and RCM system maintenance costs are embedded within operating expenses. The transition to the hybrid RCM model, which combines internal staffing with a new vendor, has been successful, surpassing pre-2019 performance, so you can expect maintenance costs to be tied to supporting this optimized, though still evolving, technology infrastructure. The company is focused on incremental improvements to this model to support revenue in 2026.

Pediatrix Medical Group, Inc. (MD) - Canvas Business Model: Revenue Streams

You're looking at the core ways Pediatrix Medical Group, Inc. brings in money, which is really about getting paid for the specialized care its affiliated physicians provide, plus fees for managing services within hospitals. Honestly, the numbers coming out of late 2025 show they are driving profitability even as top-line revenue contracts a bit due to portfolio restructuring.

For context on the scale of the business as of the third quarter of 2025, here are some key figures. The trailing twelve-month revenue was approximately $1.92 billion as of Q3 2025. Management is guiding for the full-year 2025 Adjusted EBITDA to likely range between $270 million to $290 million. Furthermore, the company posted a solid net income of $131.7 million for the nine months ended September 30, 2025.

Here's a quick look at the most recent quarterly performance to ground our discussion:

Metric	Q3 2025 Amount
Net Revenue	$493 million
Net Income	$72 million
Adjusted EBITDA	$87 million

The primary revenue sources flow from two main areas. First, you have the professional service fees from commercial and government payors. This is the money Pediatrix Medical Group, Inc. bills for the actual clinical services its affiliated physicians deliver to patients. The company determines its net patient service revenue based on gross fees minus estimated ultimate collections from payors, which include Medicaid, contracted managed care, and private-pay patients. Second, there are the administrative fees and stipends from hospital partners. Pediatrix Medical Group, Inc. receives these fees from hospitals for administrative services that its affiliated physicians provide, such as medical director duties at the hospital.

To give you a concrete example of the split, looking at the three months ended March 31, 2025, the revenue components were:

Revenue Component (Three Months Ended March 31, 2025)	Amount (in thousands)
Net patient service revenue	$389,378
Hospital contract administrative fees	$65,184

The growth in same-unit revenue, which was up 8.0 percent in Q3 2025 compared to the prior-year period, is driven by favorable reimbursement factors, which directly impact these revenue streams. So, you want to watch these drivers closely:

• Continued improvements in collection activity.
• Higher patient acuity in hospital-based practices, especially neonatology.
• Increases in administrative fees from hospital partners.
• A slightly favorable shift in payor mix.

The increase in administrative fees from hospital partners is a key component of the non-patient service revenue stream, and it was specifically cited as contributing to pricing growth in Q3 2025. The company benefits from its ability to invest with hospital partners, something management noted others can't do as easily.