Modivcare Releases Inaugural Environmental, Social, and Governance (ESG) Report
DENVER--(BUSINESS WIRE)-- Modivcare Inc. (“Modivcare” or the “Company”) (Nasdaq: MODV), a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions focused on improving patient outcomes, today announced that the Company released its first Environmental, Social, and Governance (ESG) Report. The inaugural report details Modivcare’s ESG governance and sustainability framework, how the Company supports the United Nations Sustainable Development Goals (SDGs), as well as performance highlights for 2021 – 2022.
“We are pleased to issue our first Environmental, Social, and Governance report that highlights our purpose-driven company with a vision to eliminate inequities in the U.S. healthcare system,” said Daniel E. Greenleaf, President and Chief Executive Officer of Modivcare. “Our holistic platform of supportive care solutions addresses the social determinants of health, as we serve the nation’s most vulnerable populations by facilitating non-emergency medical transportation (NEMT), remote patient monitoring, personal and home care, and home delivered meals. This report illustrates the incredible progress we have made and will serve as a foundation as we enhance our ESG capabilities and disclosures over time.”
Highlights from Modivcare’s inaugural ESG report:
- Environmental: In addition to reducing operational waste and properly recycling electronic waste, we are investing in route optimization technology to reduce miles driven per trip for our NEMT business and we have a goal of being 90% digital by the end of 2022 which will reduce our environmental footprint. We also plan to engage our independent transportation providers regarding carbon reduction goals and utilization of electric vehicles.
- Social: Modivcare services all 50 states and we serve our members with compassion and respect to give them the best experience possible. In 2021, our contact centers responded to over 25 million calls, and we became the second largest personal care business in the country serving over 20,000 members with approximately 30 million hours of care, while our NEMT business managed 75 million rides and delivered 2 million meals to underserved populations.
- Governance: In 2021, we amended the charter of the Nominating & Governance Committee of the Board to include oversight of ESG practices. Additionally, Modivcare’s Board is composed of 20% female and 20% underrepresented minorities, and all of our Board committees are chaired by an independent director. Every Modivcare employee undergoes compliance training, and we conduct an Enterprise Risk Management (ERM) survey to identify and rank organizational risks which is incorporated into our business strategy.
- Human Capital and Philanthropy: In February 2022, Modivcare hired a Chief Diversity Officer to deepen our efforts for diverse hiring and inclusion. As of December 2021, approximately 80% of all team members at Modivcare were women and over 50% were underrepresented minorities. In 2021, we launched Modivcare Academy, which is an innovative program providing tools and resources to transportation providers who typically represent a broad and diverse pool of businesses including disadvantaged, small, minority and women-owned firms. We also encourage our teams to invest in their local communities and in 2021, we increased our participation with more local partnerships.
The ESG report is accessible on Modivcare’s Investor Relations website and can be accessed by clicking this link.
Modivcare Inc. (“Modivcare”) (Nasdaq: MODV) is a technology-enabled healthcare services company that provides a platform of integrated supportive care solutions for public and private payors and their patients. Our value-based solutions address the social determinants of health (SDoH), enable greater access to care, reduce costs, and improve outcomes. We are a leading provider of non-emergency medical transportation (NEMT), personal care and remote patient monitoring. To learn more about Modivcare, please visit www.modivcare.com.
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Source: Modivcare Inc.