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Neuehealth, Inc. (BHG) SEC Filing 10-K Annual Report for the fiscal year ending Sunday, December 31, 2023

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Bright Health Group Inc.

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CIK: 1671284 Ticker: BHG


Exhibit 99.1
neuehealthjpeg.jpg

NEUEHEALTH REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS

•Delivered strong full year 2023 results in Continuing Business, focused on serving all populations through differentiated, value-driven care model
•Served 461,000 consumers, an increase of 294% from prior year on a comparable basis
•NeueCare and NeueSolutions segments well-positioned to drive strong performance in 2024, resulting in expected Enterprise Adjusted EBITDA between $15 million and $25 million †

DORAL, Fla. (March 6, 2024) (BUSINESSWIRE)
 – NeueHealth, Inc. (“NeueHealth” or the “Company”) (NYSE: NEUE), the value-driven healthcare company, today reported financial results for its fourth quarter and full year ended December 31, 2023.

“We achieved significant milestones as a company this past year, completing the sale of our California Medicare Advantage business and fully focusing on where we have proven to have the greatest impact - through our care delivery and provider enablement business,” said Mike Mikan, President and CEO of NeueHealth. “Our NeueHealth business drove strong results in 2023, delivering $1.2 billion in revenue, up 55% year over year, and serving 461,000 consumers across the country. We have great confidence in this business and the value-driven, consumer-centric care model we have built, and we look forward to continuing to align the interests of providers, payors, and consumers to drive differentiated value for all in 2024.”

Key Metrics
As of December 31,
20232022
Consumer and Patient Metrics
Value-Based Consumers served1
355,000 117,000 
Enablement Services Lives 106,000 — 

1The value-based care consumers at December 31, 2022 excludes approximately 419,000 consumers attributable to our Bright HealthCare- Commercial business that we exited at the end of 2022.


Three Months EndedYears Ended
($ in thousands)December 31,December 31,
2023202220232022
Financial Metrics
Revenue$292,871 $227,696$1,160,802$751,163
Net Loss from Continuing Operations$(62,827)$(84,671)$(627,742)$(385,242)
Adjusted EBITDA (non-GAAP)
$(10,356)$(22,247)$(8,480)$(75,095)

See the table at the end of this release for additional information and a reconciliation of the non-GAAP measures used in the table above. Full Year 2023 Net Loss from Continuing Operations of $(627,742) includes $(515,791) related to non-cash items. See table at the end of this release for more detail.



The following information was filed by Bright Health Group Inc. (BHG) on Wednesday, March 6, 2024 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Bright Health Group Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2024 10-K Annual Report includes:

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Inside Bright Health Group Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Redeemable Preferred Stock And Shareholders' Equity (Deficit)
Consolidated Statements Of Changes In Redeemable Preferred Stock And Shareholders' Equity (Deficit) (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Income (Loss)
Consolidated Statements Of Income (Loss) (Parenthetical)
Aco Reach
Aco Reach (Tables)
Aco Reach - Narrative (Details)
Aco Reach - Schedule Of Performance Guarantees (Details)
Benefit Plans
Benefit Plans (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Future Minimum Annual Lease Payments (Details)
Commitments And Contingencies - Schedule Of Operating Lease Assets And Liabilities (Details)
Commitments And Contingencies - Schedule Of Operating Lease Supplemental Cash Flow (Details)
Condensed Financial Information
Condensed Financial Information (Tables)
Condensed Financial Information - Condensed Balance Sheets (Details)
Condensed Financial Information - Condensed Balance Sheets Additional Information (Details)
Condensed Financial Information - Condensed Statements Of Cash Flow (Details)
Condensed Financial Information - Condensed Statements Of Income (Loss) And Comprehensive Income (Loss) (Details)
Deconsolidation Of Bright Healthcare Insurance Company Of Texas
Deconsolidation Of Bright Healthcare Insurance Company Of Texas (Tables)
Deconsolidation Of Bright Healthcare Insurance Company Of Texas - Narrative (Details)
Deconsolidation Of Bright Healthcare Insurance Company Of Texas - Schedule Of Balance Sheet Of Bhic-Texas (Details)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Assets And Liabilities Of Discontinued Operations (Details)
Discontinued Operations - Cash Flows From Operating And Investing Activities For Discontinued Operations (Details)
Discontinued Operations - Narrative (Details)
Discontinued Operations - Restructuring And Related Costs (Details)
Discontinued Operations - Schedule Of Components Of Medical Costs Payable (Details)
Discontinued Operations - Schedule Of Investment Securities (Details)
Discontinued Operations - Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense (Details)
Discontinued Operations - Schedule Of Operating Lease Assets And Liabilities (Details)
Discontinued Operations - Schedule Of Property Plant And Equipment (Details)
Discontinued Operations - Schedule Of Restructuring Reserve By Type Of Cost (Details)
Discontinued Operations - Schedule Of Supplemental Cash Flow And Non Cash Information (Details)
Discontinued Operations - Statement Of Income (Loss) (Details)
Discontinued Operations - Total Claims Payable Plus Expected Development On Reported Claims (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Narrative (Details)
Goodwill And Intangible Assets - Schedule Of Definite-Lived Intangible Assets (Details)
Goodwill And Intangible Assets - Schedule Of Goodwill (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Asset Amortization Expense (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Temporary Differences Related To Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Components Of Income Tax Expense (Benefit) (Details)
Income Taxes - Schedule Of Income Tax Reconciliation (Details)
Long-Term Borrowings And Common Stock Warrants
Long-Term Borrowings And Common Stock Warrants (Tables)
Long-Term Borrowings And Common Stock Warrants - Common Stock Warrants (Details)
Long-Term Borrowings And Common Stock Warrants - Narrative (Details)
Medical Costs Payable
Medical Costs Payable (Tables)
Medical Costs Payable - Components Of Medical Costs Payable (Details)
Medical Costs Payable - Narrative (Details)
Medical Costs Payable - Schedule Of Components Of Change In Medical Costs Payable (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Schedule Of Antidilutive Securities Excluded From Net Loss Per Share (Details)
Net Loss Per Share - Schedule Of Net Loss Per Share (Details)
Organization And Operations
Organization And Operations (Details)
Preferred Stock
Preferred Stock (Details)
Property, Equipment And Capitalized Software
Property, Equipment And Capitalized Software (Tables)
Property, Equipment And Capitalized Software - Narrative (Details)
Property, Equipment And Capitalized Software - Schedule Of Property, Equipment And Capitalized Software (Details)
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest (Tables)
Redeemable Noncontrolling Interest - Narrative (Details)
Redeemable Noncontrolling Interest - Schedule Of Redeemable Noncontrolling Interest (Details)
Restructuring Charges
Restructuring Charges (Tables)
Restructuring Charges - Narrative (Details)
Restructuring Charges - Schedule Of Restructuring And Related Costs (Details)
Restructuring Charges - Schedule Of Restructuring Reserve By Type Of Cost (Details)
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information - Narrative (Details)
Segment And Geographical Information - Schedule Of Segment Information (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Schedule Of Rsu And Psu Activity (Details)
Share-Based Compensation - Schedule Of Stock Option Activity (Details)
Share-Based Compensation - Schedule Of Valuation Assumptions For Options (Details)
Short-Term Borrowings
Short-Term Borrowings (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Schedule Of Operating Costs (Details)
Ticker: BHG
CIK: 1671284
Form Type: 10-K Annual Report
Accession Number: 0001671284-24-000028
Submitted to the SEC: Thu Mar 28 2024 5:18:37 PM EST
Accepted by the SEC: Thu Mar 28 2024
Period: Sunday, December 31, 2023
Industry: Hospital And Medical Service Plans

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