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Air Ambulance Company’s Earnings Plunge 58% After New Billing Law

  • Second quarter adjusted earnings came in at $46.1 million
  • The company’s debt dropped after the results were posted
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Air Methods Corp.’s second quarter earnings were hit hard by the impact of a new federal law that protects patients from unexpected medical bills, according to people with knowledge of the closely held medical transport company’s performance.

Air Methods booked $46.1 million in adjusted earnings for the quarter ended June, down year-over-year from $110.3 million, said the people, who asked not to be identified because the results are confidential. The decline was led by inflationary pressures, labor shortages, changes in payer mix, and limits imposed under No Surprises Act that came into effect earlier this year, the people said.