MultiPlan (MPLN) 10-Q 9 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Nov. 04, 2022
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-39228
Entity Registrant Name	MULTIPLAN CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-3536151
Entity Address, Address Line One	115 Fifth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	212
Local Phone Number	780-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		639,123,203
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001793229
Current Fiscal Year End Date	--12-31
Common Class A
Class of Stock [Line Items]
Title of 12(b) Security	Shares of Class A common stock, $0.0001 par value per share
Trading Symbol	MPLN
Security Exchange Name	NYSE
Warrants
Class of Stock [Line Items]
Title of 12(b) Security	Warrants
Trading Symbol	MPLN.WS
Security Exchange Name	NYSE

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 439,123	$ 185,328
Restricted cash	2,697	3,051
Trade accounts receivable, net	72,317	99,905
Prepaid expenses	12,830	24,910
Prepaid taxes	0	5,064
Other current assets, net	1,889	999
Total current assets	528,856	319,257
Property and equipment, net	224,869	213,238
Operating lease right-of-use assets	23,837	30,104
Goodwill	4,363,121	4,363,070
Other intangibles, net	3,029,629	3,285,037
Other assets, net	22,127	9,701
Total assets	8,192,439	8,220,407
Current liabilities:
Accounts payable	13,559	13,005
Accrued interest	80,622	55,685
Accrued taxes	39,782	0
Operating lease obligation, short-term	6,827	6,883
Current portion of long-term debt	13,250	13,250
Accrued compensation	28,898	25,419
Other accrued expenses	47,027	27,666
Total current liabilities	229,965	141,908
Long-term debt	4,877,011	4,879,144
Operating lease obligation, long-term	20,374	26,725
Private Placement Warrants and Unvested Founder Shares	13,049	74,000
Deferred income taxes	615,003	753,825
Other liabilities	55	135
Total liabilities	5,755,457	5,875,737
Commitments and contingencies (Note 6)
Shareholders’ equity:
Preferred stock, $0.0001 par value — 10,000,000 shares authorized; no shares issued	0	0
Common stock, $0.0001 par value — 1,500,000,000 shares authorized; 666,226,067 and 665,456,180 issued; 639,108,661 and 638,338,774 shares outstanding	67	67
Additional paid-in capital	2,326,746	2,311,660
Retained earnings	302,338	225,112
Treasury stock — 27,117,406 and 27,117,406 shares	(192,169)	(192,169)
Total shareholders’ equity	2,436,982	2,344,670
Total liabilities and shareholders’ equity	$ 8,192,439	$ 8,220,407

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, shares issued (in shares)	666,226,067	665,456,180
Common stock, shares outstanding (in shares)	639,108,661	638,338,774
Treasury stock (in shares)	27,117,406	27,117,406

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 250,453	$ 288,212	$ 838,627	$ 819,348
Costs of services (exclusive of depreciation and amortization of intangible assets shown below)	53,012	44,588	150,061	128,686
General and administrative expenses	58,434	38,221	131,107	110,144
Depreciation	17,481	15,783	51,248	48,956
Amortization of intangible assets	85,127	85,167	255,408	255,042
Total expenses	214,054	183,759	587,824	542,828
Operating income	36,399	104,453	250,803	276,520
Interest expense	77,087	67,512	221,228	195,233
Interest income	(886)	(8)	(944)	(19)
Loss on extinguishment of debt	0	15,823	0	15,823
Gain on investments	0	0	(289)	(25)
Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares	(48,851)	(76,636)	(56,443)	(35,451)
Net income before taxes	9,049	97,762	87,251	100,959
(Benefit) provision for income taxes	(10,687)	19,565	10,025	23,817
Net income	$ 19,736	$ 78,197	$ 77,226	$ 77,142
Weighted average shares outstanding – Basic (in shares)	639,073,949	652,520,691	638,859,792	654,414,644
Weighted average shares outstanding – Diluted (in shares)	639,850,455	652,882,405	639,590,184	654,816,495
Net income per share – Basic (in usd per share)	$ 0.03	$ 0.12	$ 0.12	$ 0.12
Net income per share – Diluted (in usd per share)	$ 0.03	$ 0.12	$ 0.12	$ 0.12
Comprehensive income	$ 19,736	$ 78,197	$ 77,226	$ 77,142

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock Issued	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury stock
Balance at beginning of period (in shares) at Dec. 31, 2020			664,183,318
Balance at beginning of period at Dec. 31, 2020	$ 2,557,865	$ (227,841)	$ 66	$ 2,530,410	$ (233,874)	$ 116,999	$ 6,033	$ (89,610)
Balance at beginning of period (in shares) at Dec. 31, 2020								(9,107,963)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Omnibus Incentive Plan (in shares)			1,127,787
2020 Omnibus Incentive Plan	12,562		$ 1	12,561
Tax withholding related to vesting of equity awards (in shares)								(345,733)
Tax withholding related to vesting of equity awards	(3,312)			(753)				$ (2,559)
Repurchase of common stock (in shares)								(10,009,831)
Repurchase of common stock	(61,080)							$ (61,080)
Net income	77,142					77,142
Balance at end of period (in shares) at Sep. 30, 2021			665,311,105
Balance at end of period at Sep. 30, 2021	2,355,336		$ 67	2,308,344		200,174		$ (153,249)
Balance at end of period (in shares) at Sep. 30, 2021								(19,463,527)
Balance at beginning of period (in shares) at Jun. 30, 2021			665,033,300
Balance at beginning of period at Jun. 30, 2021	2,335,064		$ 66	2,304,954		121,977		$ (91,933)
Balance at beginning of period (in shares) at Jun. 30, 2021								(9,421,140)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Omnibus Incentive Plan (in shares)			277,805
2020 Omnibus Incentive Plan	4,120		$ 1	4,119
Tax withholding related to vesting of equity awards (in shares)								(32,556)
Tax withholding related to vesting of equity awards	(965)			(729)				$ (236)
Repurchase of common stock (in shares)								(10,009,831)
Repurchase of common stock	(61,080)							$ (61,080)
Net income	78,197					78,197
Balance at end of period (in shares) at Sep. 30, 2021			665,311,105
Balance at end of period at Sep. 30, 2021	$ 2,355,336		$ 67	2,308,344		200,174		$ (153,249)
Balance at end of period (in shares) at Sep. 30, 2021								(19,463,527)
Balance at beginning of period (in shares) at Dec. 31, 2021	638,338,774		665,456,180
Balance at beginning of period at Dec. 31, 2021	$ 2,344,670		$ 67	2,311,660		225,112		$ (192,169)
Balance at beginning of period (in shares) at Dec. 31, 2021								(27,117,406)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Omnibus Incentive Plan (in shares)			769,887
2020 Omnibus Incentive Plan	12,954			12,954
Tax withholding related to vesting of equity awards	(2,376)			(2,376)
Reclassification of Private Placement Warrants (Note 4)	4,508			4,508
Net income	$ 77,226					77,226
Balance at end of period (in shares) at Sep. 30, 2022	639,108,661		666,226,067
Balance at end of period at Sep. 30, 2022	$ 2,436,982		$ 67	2,326,746		302,338		$ (192,169)
Balance at end of period (in shares) at Sep. 30, 2022								(27,117,406)
Balance at beginning of period (in shares) at Jun. 30, 2022			666,176,911
Balance at beginning of period at Jun. 30, 2022	2,408,853		$ 67	2,318,353		282,602		$ (192,169)
Balance at beginning of period (in shares) at Jun. 30, 2022								(27,117,406)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Omnibus Incentive Plan (in shares)			49,156
2020 Omnibus Incentive Plan	4,065			4,065
Tax withholding related to vesting of equity awards	(180)			(180)
Reclassification of Private Placement Warrants (Note 4)	4,508			4,508
Net income	$ 19,736					19,736
Balance at end of period (in shares) at Sep. 30, 2022	639,108,661		666,226,067
Balance at end of period at Sep. 30, 2022	$ 2,436,982		$ 67	$ 2,326,746		$ 302,338		$ (192,169)
Balance at end of period (in shares) at Sep. 30, 2022								(27,117,406)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net income	$ 77,226	$ 77,142
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	51,248	48,956
Amortization of intangible assets	255,408	255,042
Amortization of the right-of-use asset	4,924	5,306
Stock-based compensation	11,298	13,194
Deferred income taxes	(138,873)	(66,930)
Non-cash interest costs	7,841	9,500
Loss on extinguishment of debt	0	15,823
Gain on equity investments	(289)	0
Loss on disposal of property and equipment	1,110	2,366
Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares	(56,443)	(35,451)
Changes in assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:
Accounts receivable, net	27,588	(480)
Prepaid expenses and other assets	13,764	4,655
Prepaid taxes	5,064	(38)
Operating lease obligation	(4,844)	(4,962)
Accounts payable and accrued expenses and other	89,653	47,303
Net cash provided by operating activities	344,675	371,426
Investing activities:
Purchases of property and equipment	(64,209)	(57,198)
Proceeds from sale of investment	289	5,641
Purchase of equity investments	(15,000)	0
HST Acquisition, net of cash acquired	0	36
DHP Acquisition, net of cash acquired	0	(149,676)
Net cash used in investing activities	(78,920)	(201,197)
Financing activities:
Taxes paid on settlement of vested share awards	(2,376)	(3,312)
Purchase of treasury stock	0	(61,080)
Net cash used in financing activities	(12,314)	(71,844)
Net increase in cash, cash equivalents and restricted cash	253,441	98,385
Cash, cash equivalents and restricted cash at beginning of period	188,379	126,755
Cash, cash equivalents and restricted cash at end of period	441,820	225,140
Cash and cash equivalents	439,123	225,140
Restricted cash	2,697	0
Cash, cash equivalents and restricted cash at end of period	441,820	225,140
Noncash investing and financing activities:
Purchases of property and equipment not yet paid	6,315	6,160
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	2,258	795
Supplemental disclosure of cash flow information:
Interest	(187,834)	(136,951)
Income taxes, net of refunds	(104,693)	(101,635)
Term Loan G
Financing activities:
Repayments of Secured Debt	0	(2,341,000)
Term Loan B
Financing activities:
Repayments of Secured Debt	(9,938)	0
Issuance of Term Loan B	0	1,298,951
5.50% Senior Secured Notes
Financing activities:
Issuance of 5.50% Senior Secured Notes	$ 0	$ 1,034,597

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Cash Flows (Parenthetical)	Sep. 30, 2022
5.50% Senior Secured Notes | Senior Notes
Interest rate, stated percentage	5.50%

General Information and Basis o

General Information and Basis of Accounting	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
General Information and Basis of Accounting	General Information and Basis of Accounting General Information We are a provider of data analytics and technology-enabled solutions designed to bring affordability, efficiency and fairness to the U.S. healthcare industry. We do so through services focused on reducing medical cost and improving payment accuracy for the payors of healthcare, which are health insurers, self-insured employers and other health plan sponsors (typically through their health plan administrators), and, indirectly, the plan members who are the consumers of healthcare services. Throughout the notes to the unaudited condensed consolidated financial statements, unless otherwise noted, "we," "us," "our", "MultiPlan", and the "Company" and similar terms refer to Polaris and its subsidiaries prior to the consummation of the Transactions, and MultiPlan and its subsidiaries after the Transactions. Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of MultiPlan Corporation have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Certain information and disclosures required by accounting principles generally accepted in the United States (GAAP) for complete consolidated financial statements have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of MultiPlan Corporation and the notes thereto, included in the Company’s 2021 Annual Report. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), necessary for a fair statement of the Company’s financial position as of September 30, 2022 and December 31, 2021, and its results of operations for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months ended September 30, 2022 and 2021 have been included. Summary of Significant Accounting Policies Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the Company's estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, revenue recognition, recoverability of long-lived assets, goodwill, valuation of Private Placement Warrants and Unvested Founder Shares, valuation of stock-based compensation awards and income taxes. COVID-19 COVID-19 has negatively impacted our business, results of operations and financial condition since the first quarter of 2020. Effects from COVID-19 began to impact our business in first quarter 2020 with various federal, state, and local governments and private entities mandating restrictions on travel, restrictions on public gatherings, closure of non-essential commerce, and shelter-in-place orders. We temporarily closed all of our offices and restricted travel in 2020 and 2021 due to concern for our employees’ health and safety and also in compliance with state orders. Although our offices were opened for employees in 2022, most of our approximately 2,500 employees now work remotely. Other than these modifications, we have not experienced any material changes to our operations, including receiving and processing transactions with our customers as a result of COVID-19. For the three and nine months ended September 30, 2022, the Company’s revenues continue to be negatively impacted as a result of the medical charges received on non-COVID-19 claims from customers not yet reaching pre-COVID-19 pandemic levels due to fewer elective medical procedures and non-essential medical services. Such negative impacts, however, are to a lesser extent compared to the same period in 2020 and 2021, as vaccination rates have increased and most restrictions on medical services have been lifted. The extent of the ultimate impact of COVID-19 will depend on future developments of the pandemic, which remain uncertain. These developments include the number of confirmed cases, the emergence of highly contagious variants, and any actions taken by federal, state and local governments such as economic relief efforts, as well as the U.S. and global economies, consumer behavior and healthcare utilization patterns. Segment Reporting Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the chief operating decision maker. The Company manages its operations as a single segment for the purposes of assessing performance and making decisions. The Company's singular focus is being a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry. In addition, all of the Company's revenues and long-lived assets are attributable to operations in the United States for all periods presented. Revenue Recognition Disaggregation of Revenue The following table presents revenues disaggregated by services and contract types: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Revenues Network-Based Services $ 58,859 $ 66,966 $ 190,903 $ 208,404 PSAV 43,260 51,361 144,505 160,900 PEPM 13,574 14,094 41,313 41,671 Other 2,025 1,511 5,085 5,833 Analytics-Based Services 163,922 185,812 553,334 513,765 PSAV 158,804 181,701 536,613 501,381 PEPM 5,118 4,111 16,721 12,384 Payment and Revenue Integrity Services 27,672 35,434 94,390 97,179 PSAV 27,554 35,357 94,033 96,904 PEPM 118 77 357 275 Total Revenues $ 250,453 $ 288,212 $ 838,627 $ 819,348 Due to the nature of our arrangements, certain estimates may be constrained if it is probable that a significant reversal of revenue will occur when the uncertainty is resolved. For our percentage of savings contracts, portions of revenue that is recognized and collected in a reporting period may be returned or credited in subsequent periods. These credits are the result of payers not utilizing the discounts that were initially calculated, or differences between the Company’s estimates of savings achieved for a customer and the amounts self-reported in the following month by that same customer. Significant judgment is used in constraining estimates of variable consideration, and is based upon both client-specific and aggregated factors that include historical billing and adjustment data, client contract terms, and performance guarantees. We update our estimates at the end of each reporting period as additional information becomes available. There have not been any material changes to estimates of variable consideration for performance obligations satisfied prior to the nine months ended September 30, 2022. The timing of payments from customers from time to time generates contract assets or contract liabilities, however these amounts are immaterial in all periods presented.

Investments

Investments	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	InvestmentsIn June 2022, the Company acquired for cash consideration of $15.0 million a minority interest of Abacus Insights, Inc., a leading data management and interoperability platform that enables health plans and their providers to standardize data across the healthcare ecosystem by providing a highly secure unified data infrastructure that maximizes analytics enablement to reduce costs and improve outcomes.The investment does not have a readily determinable fair value and the Company has elected to record the investment at cost, less impairment, if any, plus or minus any changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. During the three and nine months ended September 30, 2022, there were no observable price changes or impairments recorded. Refer to Note 5 Fair Value Measurements for additional information.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt As of September 30, 2022, and December 31, 2021, long-term debt consisted of the following: Key Terms September 30, 2022 December 31, 2021 (in thousands) Character Priority Maturity Coupon Term Loan B Term Loan Senior Secured 9/1/2028 (1) Variable (2) $ 1,311,750 $ 1,321,688 5.50% Senior Secured Notes Notes Senior Secured 9/1/2028 5.50% 1,050,000 1,050,000 5.750% Notes Notes Senior Unsecured 11/1/2028 5.750% 1,300,000 1,300,000 Senior Convertible PIK Notes Convertible Notes (3) Senior Unsecured 10/15/2027 Cash Interest 6.00%, PIK Interest 7.00% 1,300,000 1,300,000 Finance lease obligations, non-current Other Senior Secured 2022-2024 3.38% - 20.31% 35 71 Long-term debt 4,961,785 4,971,759 Less: current portion of long-term debt (13,250) (13,250) Discount - Term Loan B (11,569) (12,864) Discount – Senior Convertible PIK Notes (24,653) (27,715) Less: debt discounts, net (36,222) (40,579) Debt issuance costs - Term Loan B (6,300) (7,008) Debt issuance costs - 5.50% Senior Secured Notes (13,010) (14,188) Debt issuance costs - 5.750% Notes (15,992) (17,590) Less: debt issuance costs, net (35,302) (38,786) Long-term debt, net $ 4,877,011 $ 4,879,144 (1) Beginning December 31, 2021 and quarterly thereafter, we shall repay a principal amount of the Term Loan B equal to 0.25% of the initial aggregate principal of $1,325.0 million. These scheduled principal repayments may be reduced by any voluntary or mandatory prepayments made in accordance with the credit agreement. (2) Interest on Term Loan B and Revolver B is calculated, at MPH's option, as (a) LIBOR (or, with respect to the term loan facility only, 0.50%, whichever is higher), plus the applicable margin, or (b) the highest rate of (1) prime rate, (2) the federal funds effective rate, plus 0.50%, (3) the LIBOR for an interest period of one month, plus 1.00% and (4) 0.50% for Term Loan B and 1.00% for Revolver B, in each case, plus an applicable margin of 4.25% for Term Loan B and between 3.50% and 4.00% for Revolver B, depending on MPH's first lien debt to consolidated EBITDA ratio. The interest rate in effect for Term Loan B was 7.32% as of September 30, 2022. (3) The Senior Convertible PIK Notes are convertible into shares of Class A common stock based on a $13.00 conversion price, subject to customary anti-dilution adjustments.

Private Placement Warrants and

Private Placement Warrants and Unvested Founder Shares	9 Months Ended
	Sep. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
Private Placement Warrants and Unvested Founder Shares	Private Placement Warrants and Unvested Founder Shares The Company classifies the Private Placement Warrants and Unvested Founder Shares as a liability on its unaudited condensed consolidated balance sheets as these instruments are precluded from being indexed to our own stock given the terms allow for a settlement that does not meet the scope of the fixed-for-fixed exception in Accounting Standards Codification 815. The Private Placement Warrants and Unvested Founder Shares were initially recorded at fair value on the date of consummation of the Transactions and are subsequently adjusted to fair value at each subsequent reporting date. The fair value of the Unvested Founder Shares and unvested Private Placement Warrants is obtained using a Monte Carlo model and the fair value of the remaining Private Placement Warrants is obtained using a Black Scholes model, together referenced as the "option pricing" model. The Company will continue to adjust the liability for changes in fair value for the founder shares until the earlier of the re-vesting or forfeiture of these instruments. The Company will continue to adjust the liability for changes in fair value for the Private Placement Warrants until the warrant is equity classified. On August 8, 2022, the Sponsor transferred 9,200,000 Private Placement Warrants, including 5,431,302 to individuals not classified as permitted transferees under the warrant agreement and which are, therefore, now redeemable by the Company and exercisable by the holders on the same basis as the Public Warrants. As a result, these 5,431,302 warrants were reclassified from Private Placement Warrants and Unvested Founder Shares to Additional paid-in capital in the unaudited condensed consolidated balance sheets on the transfer date for their fair value of $4.5 million. As of September 30, 2022 and December 31, 2021, the fair value of the Private Placement Warrants and the Unvested Founder Shares were: (in thousands) September 30, 2022 December 31, 2021 Private Placement Warrants $ 4,862 $ 38,028 Unvested Founder Shares $ 8,187 $ 35,972 For the three and nine months ended September 30, 2022, the change in fair values was primarily due to the decreas e in the stock price of the Company's Class A common stock and the passage of time over that period. The accompanying unaudited condensed consolidated statements of income and comprehensive income include gains related to the change in fair value of the Private Placement Warrants and Unvested Founder Shares for the three and nine months ended September 30, 2022 and 2021 as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Private Placement Warrants $ (20,818) $ (29,997) $ (28,658) $ (12,255) Unvested Founder Shares (28,033) (46,639) (27,785) (23,196) Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares $ (48,851) $ (76,636) $ (56,443) $ (35,451)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements are based on the premise that fair value represents an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the following three-tier fair value hierarchy has been used in determining the inputs used in measuring fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities on the reporting date. • Level 2 — Inputs, other than quoted prices in active markets (Level 1), that are observable for the asset or liability, either directly or indirectly. • Level 3 — Unobservable inputs in which there is little or no market data, which require the entity to develop its own assumptions Financial instruments Certain financial instruments which are not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable and accounts payable, which approximate fair value due to their short-term nature. The financial instrument that potentially subjects the Company to concentrations of credit risk consists primarily of accounts receivable. Cash and cash equivalents as of September 30, 2022 included money market funds of $250.0 million, which were valued based on Level 1 measurements using quoted prices in active markets for identical assets. Our cash and cash equivalents as of December 31, 2021 did not include money market funds. As of September 30, 2022 and December 31, 2021, the Company's carrying amount and fair value of long-term debt consisted of the following: September 30, 2022 December 31, 2021 (in thousands) Carrying Fair Value Carrying Fair Value Liabilities: Term Loan B, net of discount $ 1,300,181 $ 1,210,469 $ 1,308,824 $ 1,294,312 5.50% Senior Secured Notes 1,050,000 866,250 1,050,000 1,029,680 5.750% Notes 1,300,000 982,800 1,300,000 1,245,436 Senior Convertible PIK Notes, net of discount 1,275,347 879,989 1,272,285 1,245,958 Finance lease obligations 35 35 71 71 Total Liabilities $ 4,925,563 $ 3,939,543 $ 4,931,180 $ 4,815,457 As of September 30, 2022, the fair value of long-term debt, including current maturities of finance lease obligations, was obtained using quoted prices in active markets. As such, this is considered a Level 1 fair value measurement. As of December 31, 2021, we estimated the fair value of long-term debt, including current maturities of finance lease obligations, based on estimates using present value techniques that were significantly affected by the assumptions used concerning the amount and timing of estimated future cash flows and discount rates that reflect varying degrees of risk. Assumptions included interest rates currently available for instruments with similar terms as well as the five, seven, and eight-year Treasury bill rates. As such, this was considered a Level 2 fair value measurement. Recurring fair value measurements The Private Placement Warrants and Unvested Founder Shares are measured at fair value on a recurring basis. The fair value of these instruments was determined based on significant inputs not observable in the market which would represent a level 3 measurement within the fair value hierarchy. The Company uses an option pricing simulation to estimate the fair value of these instruments. Non-recurring fair value measurements We also measure certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill and long-lived tangible and intangible assets, in connection with periodic evaluations for potential impairment. We estimate the fair value of these assets using primarily unobservable inputs and, as such, these are considered Level 3 fair value measurements. There were no material impairment charges for these assets for fiscal years 2022 and 2021. Our non-marketable equity securities using the measurement alternative are adjusted to fair value on a non-recurring basis. Adjustments are made when observable transactions for identical or similar investments of the same issuer occur, or due to impairment. These securities are classified as Level 2 in the fair value hierarchy because we estimate the value based on valuation methods using the observable transaction price at the transaction date. At September 30, 2022, the carrying amount of these alternative investments, recorded under Other assets, net in the unaudited condensed consolidated balance sheets, was $15.0 million. There were no write-ups due to observable price changes or write-downs due to impairment in the current period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has certain irrevocable letters of credit used to satisfy real estate lease agreements for three of our offices in lieu of security deposits in the amount of $1.8 million outstanding as of September 30, 2022 and December 31, 2021. Claims and Litigation The Company is a defendant in various lawsuits and other pending and threatened litigation and other adversarial matters as well as regulatory investigations, all of which have arisen in the ordinary course of business. While the ultimate outcome with respect to such proceedings cannot be predicted with certainty, the Company does not believe they will result, individually or in the aggregate, in a material adverse effect upon our financial condition or results of operations, or cash flows. On March 25, 2021 and April 9, 2021, we were named as a defendant in two putative class action lawsuits relating to the Transactions that have since been consolidated under the caption In Re MultiPlan Corp. Stockholders Litigation, Consolidated C.A. No. 2021-0300-LWW (Del.Ch) ("Delaware Stockholder Litigation"). The Delaware Stockholder Litigation asserts breach of fiduciary duty claims and aiding and abetting breach of fiduciary duty claims against the former directors of the Churchill board, the Sponsor, KG and M. Klein (collectively, the "Churchill Defendants") and the Company. The Delaware Stockholder Litigation complaint alleges that the Transactions were a product of an unfair process by Churchill, which was allegedly impacted by conflicts of interest, resulting in mispricing of the Transactions. The complaint seeks, among other things, damages, certain equitable relief including the reopening of redemptions, and attorneys’ fees and costs. The Company and the Churchill Defendants filed motions to dismiss the complaint. On January 3, 2022, the Chancery Court issued a ruling granting in part the Company’s motion to dismiss and denying the motion to dismiss filed by the Churchill Defendants. The Company is therefore dismissed from the Delaware Stockholder Litigation, which is proceeding against the Churchill Defendants. The Company has agreed to indemnify certain of the Churchill Defendants with respect to the Delaware Stockholder Litigation. The Company has estimated its potential liability and accrued a contingent liability in other accrued expenses on the accompanying unaudited condensed consolidated balance sheets in connection with its indemnification obligations with respect to this matter. We accrue for costs associated with certain contingencies, including, but not limited to, settlement of legal proceedings, regulatory compliance matters and self-insurance exposures when such costs are probable and reasonably estimable. Such accruals are included in other accrued expenses on the accompanying unaudited condensed consolidated balance sheets. In addition, we accrue for legal fees incurred in defense of asserted litigation and regulatory matters as such legal fees are incurred. To the extent it is probable under our existing insurance coverage that we are able to recover losses and legal fees related to contingencies, we record such recoveries concurrently with the accrual of the related loss or legal fees. Significant management judgment is required to estimate the amounts of such contingent liabilities and the related insurance recoveries. In our determination of the probability and ability to estimate contingent liabilities and related insurance recoveries we consider the following: litigation exposure based on currently available information, consultations with external legal counsel, adequacy and applicability of existing insurance coverage and other pertinent facts and circumstances regarding the contingency. Liabilities established to provide for contingencies are adjusted as further information develops, circumstances change, or contingencies are resolved; and such changes are recorded in the accompanying unaudited condensed consolidated statements of income and comprehensive income during the period of the change and appropriately reflected in other accrued liabilities on the accompanying unaudited condensed consolidated balance sheets.

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Basic and Diluted Earnings Per Share Basic and diluted earnings per share was calculated as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except number of shares and per share data) 2022 2021 2022 2021 Numerator for earnings per share calculation Net income $ 19,736 $ 78,197 $ 77,226 $ 77,142 Denominator for earnings per share calculation Weighted average number of shares outstanding – basic 639,073,949 652,520,691 638,859,792 654,414,644 Effect of stock-based compensation 776,506 361,714 730,392 401,851 Weighted average number of shares outstanding – diluted 639,850,455 652,882,405 639,590,184 654,816,495 Income per share – basic and diluted: Net income per share – basic $ 0.03 $ 0.12 $ 0.12 $ 0.12 Net income per share – diluted $ 0.03 $ 0.12 $ 0.12 $ 0.12 As of the three and nine months ended September 30, 2022 and 2021, we have excluded from the calculation of diluted net income per share the instruments whose effect would have been anti-dilutive, including (i) 58,500,000 warrants outstanding, (ii) 100,000,000 shares which may be issued upon conversion of the Senior Convertible PIK Notes, and (iii) 12,404,080 Unvested Founder Shares. Additionally, we have excluded from the calculation of diluted net income per share awards within the 2020 Omnibus Incentive Plan, whose effect would have been anti-dilutive of 12,939,954 and 12,394,828 and 3,433,850 and 3,652,541 for the three and nine months ended September 30, 2022 and 2021, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The accompanying unaudited condensed consolidated statements of income and comprehensive income include expenses and revenues to and from related parties for the three and nine months ended September 30, 2022 and 2021 as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Revenues $ 944 $ 476 $ 1,982 $ 1,915 Total revenues from related parties 944 476 1,982 1,915 Cost of services (464) (755) (1,066) (2,184) General and administrative 65 (66) 65 (479) Total expense from related parties $ (399) $ (821) $ (1,001) $ (2,663) The accompanying unaudited condensed consolidated balance sheets include accruals from related parties as of September 30, 2022 and December 31, 2021 as follows: (in thousands) September 30, 2022 December 31, 2021 Current liabilities: Accounts payable $ 1,696 $ 2,297 Total liabilities from related parties $ 1,696 $ 2,297 In 2022 and 2021, the related party transactions included the following: • The Company purchased PPO network services from a company controlled by affiliates of Hellman & Friedman LLC, an affiliate of H&F, to supplement our provider network. We also recognize revenues from that same company for the use of our provider network and other claims processing services. • The Company has obtained insurance brokered through a company controlled by affiliates of Hellman & Friedman LLC. • The Company reimburses an affiliate of Hellman & Friedman LLC for reasonable out of pocket expenses that include travel, lodging, meals, and any similar expenses.

General Information and Basis_2

General Information and Basis of Accounting (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of MultiPlan Corporation have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Certain information and disclosures required by accounting principles generally accepted in the United States (GAAP) for complete consolidated financial statements have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of MultiPlan Corporation and the notes thereto, included in the Company’s 2021 Annual Report. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), necessary for a fair statement of the Company’s financial position as of September 30, 2022 and December 31, 2021, and its results of operations for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months ended September 30, 2022 and 2021 have been included.
Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements of MultiPlan Corporation have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Certain information and disclosures required by accounting principles generally accepted in the United States (GAAP) for complete consolidated financial statements have been condensed or omitted pursuant to the SEC’s rules and regulations, although management believes that the disclosures are adequate and make the information presented not misleading. The unaudited condensed consolidated financial statements and notes herein should be read in conjunction with the audited consolidated financial statements of MultiPlan Corporation and the notes thereto, included in the Company’s 2021 Annual Report. In the opinion of management, all adjustments, which are of a normal and recurring nature (except as otherwise noted), necessary for a fair statement of the Company’s financial position as of September 30, 2022 and December 31, 2021, and its results of operations for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months ended September 30, 2022 and 2021 have been included.
Use of Estimates	Use of EstimatesThe preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from the Company's estimates. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, revenue recognition, recoverability of long-lived assets, goodwill, valuation of Private Placement Warrants and Unvested Founder Shares, valuation of stock-based compensation awards and income taxes.
COVID-19	COVID-19 COVID-19 has negatively impacted our business, results of operations and financial condition since the first quarter of 2020. Effects from COVID-19 began to impact our business in first quarter 2020 with various federal, state, and local governments and private entities mandating restrictions on travel, restrictions on public gatherings, closure of non-essential commerce, and shelter-in-place orders. We temporarily closed all of our offices and restricted travel in 2020 and 2021 due to concern for our employees’ health and safety and also in compliance with state orders. Although our offices were opened for employees in 2022, most of our approximately 2,500 employees now work remotely. Other than these modifications, we have not experienced any material changes to our operations, including receiving and processing transactions with our customers as a result of COVID-19. For the three and nine months ended September 30, 2022, the Company’s revenues continue to be negatively impacted as a result of the medical charges received on non-COVID-19 claims from customers not yet reaching pre-COVID-19 pandemic levels due to fewer elective medical procedures and non-essential medical services. Such negative impacts, however, are to a lesser extent compared to the same period in 2020 and 2021, as vaccination rates have increased and most restrictions on medical services have been lifted.
Segment Reporting	Segment Reporting Operating segments are defined as components of an entity for which separate financial information is available and regularly reviewed by the chief operating decision maker. The Company manages its operations as a single segment for the purposes of assessing performance and making decisions. The Company's singular focus is being a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry. In addition, all of the Company's revenues and long-lived assets are attributable to operations in the United States for all periods presented.
Revenue Recognition	Due to the nature of our arrangements, certain estimates may be constrained if it is probable that a significant reversal of revenue will occur when the uncertainty is resolved. For our percentage of savings contracts, portions of revenue that is recognized and collected in a reporting period may be returned or credited in subsequent periods. These credits are the result of payers not utilizing the discounts that were initially calculated, or differences between the Company’s estimates of savings achieved for a customer and the amounts self-reported in the following month by that same customer. Significant judgment is used in constraining estimates of variable consideration, and is based upon both client-specific and aggregated factors that include historical billing and adjustment data, client contract terms, and performance guarantees. We update our estimates at the end of each reporting period as additional information becomes available. There have not been any material changes to estimates of variable consideration for performance obligations satisfied prior to the nine months ended September 30, 2022. The timing of payments from customers from time to time generates contract assets or contract liabilities, however these amounts are immaterial in all periods presented.

General Information and Basis_3

General Information and Basis of Accounting (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Disaggregation of Revenue	The following table presents revenues disaggregated by services and contract types: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Revenues Network-Based Services $ 58,859 $ 66,966 $ 190,903 $ 208,404 PSAV 43,260 51,361 144,505 160,900 PEPM 13,574 14,094 41,313 41,671 Other 2,025 1,511 5,085 5,833 Analytics-Based Services 163,922 185,812 553,334 513,765 PSAV 158,804 181,701 536,613 501,381 PEPM 5,118 4,111 16,721 12,384 Payment and Revenue Integrity Services 27,672 35,434 94,390 97,179 PSAV 27,554 35,357 94,033 96,904 PEPM 118 77 357 275 Total Revenues $ 250,453 $ 288,212 $ 838,627 $ 819,348

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of September 30, 2022, and December 31, 2021, long-term debt consisted of the following: Key Terms September 30, 2022 December 31, 2021 (in thousands) Character Priority Maturity Coupon Term Loan B Term Loan Senior Secured 9/1/2028 (1) Variable (2) $ 1,311,750 $ 1,321,688 5.50% Senior Secured Notes Notes Senior Secured 9/1/2028 5.50% 1,050,000 1,050,000 5.750% Notes Notes Senior Unsecured 11/1/2028 5.750% 1,300,000 1,300,000 Senior Convertible PIK Notes Convertible Notes (3) Senior Unsecured 10/15/2027 Cash Interest 6.00%, PIK Interest 7.00% 1,300,000 1,300,000 Finance lease obligations, non-current Other Senior Secured 2022-2024 3.38% - 20.31% 35 71 Long-term debt 4,961,785 4,971,759 Less: current portion of long-term debt (13,250) (13,250) Discount - Term Loan B (11,569) (12,864) Discount – Senior Convertible PIK Notes (24,653) (27,715) Less: debt discounts, net (36,222) (40,579) Debt issuance costs - Term Loan B (6,300) (7,008) Debt issuance costs - 5.50% Senior Secured Notes (13,010) (14,188) Debt issuance costs - 5.750% Notes (15,992) (17,590) Less: debt issuance costs, net (35,302) (38,786) Long-term debt, net $ 4,877,011 $ 4,879,144 (1) Beginning December 31, 2021 and quarterly thereafter, we shall repay a principal amount of the Term Loan B equal to 0.25% of the initial aggregate principal of $1,325.0 million. These scheduled principal repayments may be reduced by any voluntary or mandatory prepayments made in accordance with the credit agreement. (2) Interest on Term Loan B and Revolver B is calculated, at MPH's option, as (a) LIBOR (or, with respect to the term loan facility only, 0.50%, whichever is higher), plus the applicable margin, or (b) the highest rate of (1) prime rate, (2) the federal funds effective rate, plus 0.50%, (3) the LIBOR for an interest period of one month, plus 1.00% and (4) 0.50% for Term Loan B and 1.00% for Revolver B, in each case, plus an applicable margin of 4.25% for Term Loan B and between 3.50% and 4.00% for Revolver B, depending on MPH's first lien debt to consolidated EBITDA ratio. The interest rate in effect for Term Loan B was 7.32% as of September 30, 2022. (3) The Senior Convertible PIK Notes are convertible into shares of Class A common stock based on a $13.00 conversion price, subject to customary anti-dilution adjustments.

Private Placement Warrants an_2

Private Placement Warrants and Unvested Founder Shares (Tables)	9 Months Ended
	Sep. 30, 2022
Warrants and Rights Note Disclosure [Abstract]
Schedule of Fair Value of Private Placement Warrants and Unvested Founder Shares	As of September 30, 2022 and December 31, 2021, the fair value of the Private Placement Warrants and the Unvested Founder Shares were: (in thousands) September 30, 2022 December 31, 2021 Private Placement Warrants $ 4,862 $ 38,028 Unvested Founder Shares $ 8,187 $ 35,972 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Private Placement Warrants $ (20,818) $ (29,997) $ (28,658) $ (12,255) Unvested Founder Shares (28,033) (46,639) (27,785) (23,196) Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares $ (48,851) $ (76,636) $ (56,443) $ (35,451)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	As of September 30, 2022 and December 31, 2021, the Company's carrying amount and fair value of long-term debt consisted of the following: September 30, 2022 December 31, 2021 (in thousands) Carrying Fair Value Carrying Fair Value Liabilities: Term Loan B, net of discount $ 1,300,181 $ 1,210,469 $ 1,308,824 $ 1,294,312 5.50% Senior Secured Notes 1,050,000 866,250 1,050,000 1,029,680 5.750% Notes 1,300,000 982,800 1,300,000 1,245,436 Senior Convertible PIK Notes, net of discount 1,275,347 879,989 1,272,285 1,245,958 Finance lease obligations 35 35 71 71 Total Liabilities $ 4,925,563 $ 3,939,543 $ 4,931,180 $ 4,815,457

Basic and Diluted Earnings Pe_2

Basic and Diluted Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Basic and diluted earnings per share was calculated as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except number of shares and per share data) 2022 2021 2022 2021 Numerator for earnings per share calculation Net income $ 19,736 $ 78,197 $ 77,226 $ 77,142 Denominator for earnings per share calculation Weighted average number of shares outstanding – basic 639,073,949 652,520,691 638,859,792 654,414,644 Effect of stock-based compensation 776,506 361,714 730,392 401,851 Weighted average number of shares outstanding – diluted 639,850,455 652,882,405 639,590,184 654,816,495 Income per share – basic and diluted: Net income per share – basic $ 0.03 $ 0.12 $ 0.12 $ 0.12 Net income per share – diluted $ 0.03 $ 0.12 $ 0.12 $ 0.12

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The accompanying unaudited condensed consolidated statements of income and comprehensive income include expenses and revenues to and from related parties for the three and nine months ended September 30, 2022 and 2021 as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2022 2021 2022 2021 Revenues $ 944 $ 476 $ 1,982 $ 1,915 Total revenues from related parties 944 476 1,982 1,915 Cost of services (464) (755) (1,066) (2,184) General and administrative 65 (66) 65 (479) Total expense from related parties $ (399) $ (821) $ (1,001) $ (2,663) The accompanying unaudited condensed consolidated balance sheets include accruals from related parties as of September 30, 2022 and December 31, 2021 as follows: (in thousands) September 30, 2022 December 31, 2021 Current liabilities: Accounts payable $ 1,696 $ 2,297 Total liabilities from related parties $ 1,696 $ 2,297

General Information and Basis_4

General Information and Basis of Accounting - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 250,453	$ 288,212	$ 838,627	$ 819,348
Network-Based Services
Disaggregation of Revenue [Line Items]
Revenues	58,859	66,966	190,903	208,404
Network-Based Services | PSAV
Disaggregation of Revenue [Line Items]
Revenues	43,260	51,361	144,505	160,900
Network-Based Services | PEPM
Disaggregation of Revenue [Line Items]
Revenues	13,574	14,094	41,313	41,671
Network-Based Services | Other
Disaggregation of Revenue [Line Items]
Revenues	2,025	1,511	5,085	5,833
Analytics-Based Services
Disaggregation of Revenue [Line Items]
Revenues	163,922	185,812	553,334	513,765
Analytics-Based Services | PSAV
Disaggregation of Revenue [Line Items]
Revenues	158,804	181,701	536,613	501,381
Analytics-Based Services | PEPM
Disaggregation of Revenue [Line Items]
Revenues	5,118	4,111	16,721	12,384
Payment and Revenue Integrity Services
Disaggregation of Revenue [Line Items]
Revenues	27,672	35,434	94,390	97,179
Payment and Revenue Integrity Services | PSAV
Disaggregation of Revenue [Line Items]
Revenues	27,554	35,357	94,033	96,904
Payment and Revenue Integrity Services | PEPM
Disaggregation of Revenue [Line Items]
Revenues	$ 118	$ 77	$ 357	$ 275

General Information and Basis_5

General Information and Basis of Accounting - Narrative (Details)	Sep. 30, 2022 employee
Accounting Policies [Abstract]
Number of employees	2,500

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Purchase of equity investments	$ 15,000	$ 15,000	$ 0

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long Term Debt (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Finance lease obligations, non-current	$ 35,000	$ 71,000
Long-term debt	4,961,785,000	4,971,759,000
Less: current portion of long-term debt	(13,250,000)	(13,250,000)
Less: debt discounts, net	(36,222,000)	(40,579,000)
Less: debt issuance costs, net	(35,302,000)	(38,786,000)
Long-term debt	$ 4,877,011,000	4,879,144,000
Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	3.38%
Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	20.31%
Term Loan B | Variable Rate Option 1
Debt Instrument [Line Items]
Debt instrument, basis spread, base rate	0.50%
Term Loan B | Variable Rate Option 2
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.25%
Term Loan B | Variable Rate Option 2 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Term Loan B | Variable Rate Option 2 | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread, base rate	0.50%
Revolver B | Variable Rate Option 2 | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.50%
Revolver B | Variable Rate Option 2 | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4%
Revolver B | Variable Rate Option 2 | Fed Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolver B | Variable Rate Option 2 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Revolver B | Variable Rate Option 2 | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread, base rate	1%
Term loans | Term Loan B
Debt Instrument [Line Items]
Long-term debt	$ 1,311,750,000	1,321,688,000
Less: debt discounts, net	(11,569,000)	(12,864,000)
Less: debt issuance costs, net	$ (6,300,000)	(7,008,000)
Periodic payment, percentage of principal	0.25%
Debt instrument, face amount	$ 1,325,000,000
Debt instrument, effective interest rate, percentage	7.32%
Senior notes | 5.50% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt	$ 1,050,000,000	1,050,000,000
Interest rate, stated percentage	5.50%
Less: debt issuance costs, net	$ (13,010,000)	(14,188,000)
Senior notes | 5.750% Notes
Debt Instrument [Line Items]
Long-term debt	$ 1,300,000,000	1,300,000,000
Interest rate, stated percentage	5.75%
Less: debt issuance costs, net	$ (15,992,000)	(17,590,000)
PIK Note | Senior Convertible PIK Notes
Debt Instrument [Line Items]
Long-term debt	$ 1,300,000,000	1,300,000,000
Cash interest rate	6%
Paid-in-kind interest rate	7%
Less: debt discounts, net	$ (24,653,000)	$ (27,715,000)
PIK Note | Senior Convertible PIK Notes | Common Class A
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price (in USD per share)	$ 13

Private Placement Warrants an_3

Private Placement Warrants and Unvested Founder Shares - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Aug. 08, 2022	Sep. 30, 2022	Sep. 30, 2022
Class of Warrant or Right [Line Items]
Adjustment to APIC, warrants transferred		$ 4,508	$ 4,508
Private Placement Warrants
Class of Warrant or Right [Line Items]
Warrants transferred (in shares)	9,200,000
Warrants transferred to non permitted transferees (in shares)	5,431,302
Adjustment to APIC, warrants transferred	$ 4,500

Private Placement Warrants an_4

Private Placement Warrants and Unvested Founder Shares - Schedule of Warrants and Unvested Founder Shares (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares	$ (48,851)	$ (76,636)	$ (56,443)	$ (35,451)
Private Placement Warrants
Class of Warrant or Right [Line Items]
Fair value of warrants or unvested founder shares	4,862		4,862		$ 38,028
Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares	(20,818)	(29,997)	(28,658)	(12,255)
Unvested Founder Shares
Class of Warrant or Right [Line Items]
Fair value of warrants or unvested founder shares	8,187		8,187		$ 35,972
Gain on change in fair value of Private Placement Warrants and Unvested Founder Shares	$ (28,033)	$ (46,639)	$ (27,785)	$ (23,196)

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash and cash equivalents	$ 439,123	$ 185,328	$ 225,140
Fair Value, Inputs, Level 2
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Equity securities	15,000
Money Market Funds | Fair Value, Inputs, Level 1
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash and cash equivalents	$ 250,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Senior notes | 5.50% Senior Secured Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage	5.50%
Senior notes | 5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Interest rate, stated percentage	5.75%
Carrying Amount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	$ 4,925,563	$ 4,931,180
Carrying Amount | Term loans | Term Loan B, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,300,181	1,308,824
Carrying Amount | Senior notes | 5.50% Senior Secured Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,050,000	1,050,000
Carrying Amount | Senior notes | 5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,300,000	1,300,000
Carrying Amount | Convertible notes, net of discount | Senior Convertible PIK Notes, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,275,347	1,272,285
Carrying Amount | Finance lease obligations
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	35	71
Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	3,939,543	4,815,457
Fair Value | Term loans | Term Loan B, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	1,210,469	1,294,312
Fair Value | Senior notes | 5.50% Senior Secured Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	866,250	1,029,680
Fair Value | Senior notes | 5.750% Notes
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	982,800	1,245,436
Fair Value | Convertible notes, net of discount | Senior Convertible PIK Notes, net of discount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	879,989	1,245,958
Fair Value | Finance lease obligations
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt instrument, value	$ 35	$ 71

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	1 Months Ended	9 Months Ended
	Apr. 09, 2021 lawsuit	Sep. 30, 2022 USD ($) office	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of offices | office		3
Letters of credit outstanding | $		$ 1.8	$ 1.8
Number of class action lawsuits | lawsuit	2

Basic and Diluted Earnings Pe_3

Basic and Diluted Earnings Per Share - Reconciliation of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator for earnings per share calculation
Net income	$ 19,736	$ 78,197	$ 77,226	$ 77,142
Denominator for earnings per share calculation
Weighted average number of shares outstanding – basic (in shares)	639,073,949	652,520,691	638,859,792	654,414,644
Effect of stock-based compensation (in shares)	776,506	361,714	730,392	401,851
Weighted average number of shares outstanding – diluted (in shares)	639,850,455	652,882,405	639,590,184	654,816,495
Income per share – basic and diluted:
Net income per share – Basic (in usd per share)	$ 0.03	$ 0.12	$ 0.12	$ 0.12
Net income per share – Diluted (in usd per share)	$ 0.03	$ 0.12	$ 0.12	$ 0.12

Basic and Diluted Earnings Pe_4

Basic and Diluted Earnings Per Share - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Warrants Outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	58,500,000	58,500,000	58,500,000	58,500,000
Convertible PIK Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	100,000,000	100,000,000	100,000,000	100,000,000
Unvested Founder Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	12,404,080	12,404,080	12,404,080	12,404,080
Unvested Incentive Plan Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from the computation of earnings per share (in shares)	12,939,954	3,433,850	12,394,828	3,652,541

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transactions [Abstract]
Total revenues from related parties	$ 944	$ 476	$ 1,982	$ 1,915
Cost of services	(464)	(755)	(1,066)	(2,184)
General and administrative	65	(66)	65	(479)
Total expense from related parties	(399)	$ (821)	(1,001)	$ (2,663)
Current liabilities:
Accounts payable	1,696		1,696		$ 2,297
Total liabilities from related parties	$ 1,696		$ 1,696		$ 2,297

Uncategorized Items - mpln-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]