NeueHealth, Inc. Stock Price, News & Analysis

Bright Health Group (NYSE: BHG) has reaffirmed its 2022 Adjusted EBITDA guidance while accelerating its path to profitability by 2023. The company will cease offering Individual and Family Plans and Medicare Advantage products outside California and Florida. It has raised $175 million in convertible preferred equity to support its business model focused on risk-bearing care delivery. Bright Health aims for a balanced $3 billion Net Revenue in 2023 and expects to release $250 million in regulated capital through market exits.

Bright Health Group, Inc. (NYSE: BHG) reported Q2 2022 revenue of $1.6 billion, a substantial 41.5% increase from Q2 2021. Despite this growth, the company suffered a GAAP net loss of $251.3 million and an Adjusted EBITDA loss of $194.9 million. The Medical Cost Ratio rose to 88.8%, compared to 86.8% in the prior year. For 2022, revenue guidance is between $6.8 billion and $7.1 billion, with an expected Adjusted EBITDA loss of $500 million to $800 million.

Bright Health Group, Inc. (NYSE: BHG) is set to report its Second Quarter financial results on Wednesday, August 10, 2022, before market opening, followed by a conference call at 8:00 AM Eastern Time.

Bright Health operates a technology-enabled system of care focused on the healthcare consumer retail market. The company provides services through its businesses, NeueHealth and Bright HealthCare, serving over 1.1 million consumers.

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Bright Health Group (NYSE: BHG) has announced the appointment of Michael Carson as CEO of Bright HealthCare and Jeff Cook as CEO of NeueHealth. Both executives will report to CEO Mike Mikan and focus on enhancing operational excellence and value-based care. Carson, with a strong background in healthcare leadership, aims to drive innovative solutions in Bright HealthCare, while Cook will develop integrated care systems at NeueHealth. Transition support will be provided by outgoing CEOs, with Carson and Cook joining in June.

Bright Health Group reported Q1 2022 revenue of $1.8 billion, a 109.9% increase from Q1 2021. However, the company faced a GAAP net loss of $180.6 million and an Adjusted EBITDA loss of $74.8 million. The enterprise medical cost ratio stood at 84.8%, while Bright HealthCare's ratio was 83.1%. The company serves 1.16 million members and expects full-year 2022 revenue between $6.8 billion and $7.1 billion, with an anticipated Adjusted EBITDA loss of $500 million to $800 million.

Bright Health Group (NYSE: BHG) will announce its First Quarter financial results on May 4, 2022, before market opening, followed by a conference call at 8:00 AM ET. Interested participants can register via a provided link and will receive instructions to join the call. Bright Health is recognized as a technology-enabled, Fully Aligned system of care focused on healthcare's consumer retail market, serving over one million consumers through its Bright HealthCare and NeueHealth divisions, which emphasize affordable and high-quality healthcare.

Bright Health Group (NYSE: BHG) announced it will cease offering Individual and Family Plan products in six states for the 2023 Plan Year, namely Illinois, New Mexico, Oklahoma, South Carolina, Utah, and Virginia. This decision aims to focus on markets contributing significantly to revenue, as these states are projected to comprise less than 5% of total revenue. The company will enhance its Fully Aligned care model in remaining states, strengthen NeueHealth services, and ensure a smooth transition for affected members without disruption in coverage.

Bright Health Group (NYSE: BHG) announced that its subsidiary, NeueHealth, will participate in the CMMI's Global and Professional Direct Contracting Model. This initiative aims to provide care to around 50,000 Medicare beneficiaries through 2,000 affiliated primary care providers across six states. The model focuses on improving health equity and care coordination, particularly for underserved communities. NeueHealth operates local integrated systems of care, currently serving 400,000 patients across various value-based arrangements. This selection signals a commitment to value-based care and strengthens relationships between consumers and physicians.

Bright Health Group (NYSE: BHG) announced that Keith Nelsen will retire as General Counsel, with Jeff Craig promoted to the role effective March 18, 2022. Nelsen will remain as a senior advisor until June 30, 2022. Mike Mikan, President and CEO, praised Nelsen for his contributions, including navigating the IPO and establishing corporate governance. Craig, who has been with Bright Health for over two years, has previously overseen legal aspects of M&A transactions, corporate governance, and litigation.