Content analysis
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New words:
ahead, appeal, bearing, deadline, deepen, deposit, diversify, foundation, judgement, lesser, memorandum, order, ownership, path, penalty, Plantiff, Practice, prepaid, priority, promissory, RRD, streamlining, strongest
Removed:
built, defending, defense, deliver, differentiated, local, pipeline, ruled, successful, transition, unfavorable, vigorously
Financial report summary
?Competition
Humana • UnitedHealth • Centene • Elevance Health • Molina Healthcare • Oscar Health • Cigna • Cano Health • Clover Health Investments • agilon healthManagement Discussion
- (1)Operating Cost Ratio is defined as operating costs divided by total revenue.
- Total revenues decreased by $36.5 million, or 13.5%, for the three months ended September 30, 2024 and $163.9 million or 18.9% for the nine months ended September 30, 2024 as compared to the same periods in 2023. These decreases were primarily driven by a decrease of approximately 20,000 beneficiaries aligned to our REACH ACOs resulting in decreased ACO REACH revenue of $50.6 million and $205.8 million for the three and nine months ended September 30, 2024 as compared to the same periods in 2023, respectively. These decreases were offset by increases in our capitated revenue of $11.0 million and $37.1 million for the three and nine months ended September 30, 2024 as compared to the same periods in 2023. The increase in capitated revenue is a result of increased membership through our third-party payor contracts as compared to the three and nine months ended September 30, 2023.
- Medical costs decreased by $43.7 million, or 19.3%, for the three months ended September 30, 2024 as compared to the same period in 2023. Medical costs decreased by $174.5 million or 23.8%, for the nine months ended September 30, 2024 as compared to the same period in 2023. The decrease in medical costs was primarily driven by a decrease in beneficiaries aligned to our REACH ACOs.