NeueHealth’s Differentiated Alignment Model Expecting Strong Growth in 2022
November 30 2021 - 4:05PM
Business Wire
Next year the company expects to generate
approximately $2 billion in Revenue with a meaningful contribution
from external payor relationships
NeueHealth, the rapidly
growing care delivery and provider enablement business of
Bright Health Group (NYSE: BHG), is expanding access to care
through new and existing relationships with external payors and
affiliate provider groups next year. It plans to open at least 25
new clinics across three states including Florida, Texas, and North
Carolina, bringing its total owned clinic footprint to over 70 in
early 2022.
In addition, NeueHealth intends to bring its alignment model to
several new markets in 2023 to support the growing demand from its
strategic payor partners.
“NeueHealth has demonstrated remarkable growth and strong
performance as we continue to expand in new geographies with our
partners,” said Sam Srivastava, CEO of NeueHealth. “Our model
integrates payors and providers clinically, financially, and
through data and technology, demonstrating a significant reduction
in medical costs with better outcomes. We are proud to bring
differentiated value to our patients, providers, and the
communities we serve.”
NeueHealth is also expanding its current risk-bearing care
delivery services for seniors beyond Medicare Advantage through its
expected participation in the Center for Medicare and Medicaid
Innovation’s Direct Contracting program starting January 1,
2022.
Combining growth from Bright HealthCare, external payors, and
Direct Contracting, NeueHealth now expects to generate
approximately $2 billion in Revenue in 2022 with a meaningful
contribution from external payor relationships.
“The shift of patients and providers from fee-for-service to
value-based models is fueling NeueHealth’s rapid growth,” said Mike
Mikan, Bright Health Group President and CEO. “We believe
NeueHealth is well positioned to capture this trend, enabling it to
continue providing diversification, differentiation, and capital
efficient growth into the future.”
About NeueHealth
At NeueHealth, we operate local Integrated Systems of Care
designed to improve outcomes and experiences for our consumers and
Care Partners. We engage in local, personalized care delivery
through our ecosystem of Care Partners in the 99 markets we serve,
by empowering care delivery organizations to succeed in their
efforts to transition from fee-for-service to value-based care, and
through our Integrated Care Delivery clinics, which provide
value-based, comprehensive care to all populations. NeueHealth is a
multi-payor, multi-segment business that has more than 200,000
providers in our network. Through NeueHealth, we deliver
high-quality virtual and in-person clinical care to over 170,000
patients under value-based contracts through our 131 owned and
affiliated primary care clinics. NeueHealth is part of Bright
Health Group (NYSE: BHG). For more information, visit
www.neuehealth.com.
About Bright Health Group
Bright Health Group is built upon the belief that by aligning
the best local resources in healthcare delivery with the financing
of care we can drive a superior consumer experience, optimize
clinical outcomes, reduce systemic waste, and lower costs. We are a
healthcare company building a national Integrated System of Care in
close partnership with our Care Partners. Our differentiated
approach is built on alignment, focused on the consumer, and
powered by technology. We have two market facing businesses:
NeueHealth and Bright HealthCare. Through NeueHealth, we deliver
high-quality virtual and in-person clinical care to over 170,000
patients under value-based contracts through our 131 owned and
affiliated primary care clinics. Through Bright HealthCare, we
offer Commercial and Medicare health plan products to approximately
721,000 consumers in 14 states and 99 markets. We are making
healthcare right. Together. For more information, visit
www.brighthealthgroup.com.
Forward-Looking Statements
Statements made in this release that are not statements of
historical fact, including statements about our beliefs and
expectations, are forward-looking statements and should be
evaluated as such. Forward-looking statements include information
concerning possible or assumed future results of operations,
including descriptions of our business plan, strategies, expansion
plans, and revenue projections. These statements often include
words such as “anticipate,” “expect,” “plan,” “believe,” “intend,”
“project,” “forecast,” “estimates,” “projections,” and other
similar expressions. These forward-looking statements include any
statements regarding our plans and expectations with respect to
Bright Health Group, Inc. and NeueHealth. Such forward-looking
statements are subject to various risks, uncertainties and
assumptions. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. Factors that might
materially affect such forward-looking statements include: a lack
of acceptance or slow adoption of our business model; our ability
to retain existing consumers and expand consumer enrollment; our
ability to contract with care providers and arrange for the
provision of quality care; our ability to accurately estimate our
medical expenses, effectively manage our costs and claims
liabilities or appropriately price our products and charge
premiums; the impact of the COVID-19 pandemic on our business and
results of operations; the risks associated with our reliance on
third-party providers to operate our business; the impact of
modifications or changes to the U.S. health insurance markets; our
ability to manage the growth of our business; our ability to
operate, update or implement our technology platform and other
information technology systems; our ability to retain key
executives; our ability to successfully pursue acquisitions and
integrate acquired businesses; the occurrence of severe weather
events, catastrophic health events, natural or man-made disasters,
and social and political conditions or civil unrest; our ability to
prevent and contain data security incidents and the impact of data
security incidents on our members, patients, employees and
financial results; and the other factors set forth under the
heading “Risk
Factors” in Bright Health Group’s prospectus filed pursuant to
Rule 424(b)(4) on June 25, 2021, and our other filings with the
U.S. Securities and Exchange Commission. Except as required by law,
we undertake no obligation to update publicly any forward-looking
statements for any reason after the date of this release to conform
these statements to actual results or changes in our
expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20211130006009/en/
Investor Contact: IR@brighthealthgroup.com
Media Contact: Kris Patrow 651.492.1556
Kris.Patrow@padillaco.com
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