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10-K
2023 FY
BTSG
BrightSpring Health Services, Inc. Common Stock
6 Mar 24
Annual report
5:11pm
We are characterized by payor diversification across our platform. Our payors are principally federal, state, and local governmental agencies, commercial insurance, private, and other payors. No payor represents more than 40% of our revenue in the aggregate for the years ended December 31, 2023, 2022 and 2021. Additionally, our Medicaid payors can be further broken down across each individual state with our top 10 Medicaid states representing 14% of total Company revenue for the year ended December 31, 2023. The federal, state, and local programs under which we operate are subject to legislative and budgetary changes that can influence reimbursement rates.
For the Years Ended December 31, | ||||||||||||||||||||||||
($ in millions) | 2023 | 2022 | 2021 | |||||||||||||||||||||
% of | % of | % of | ||||||||||||||||||||||
Revenue | Revenue | Revenue | Revenue | Revenue | Revenue | |||||||||||||||||||
Medicare D | $ | 3,365.9 | 38.1 | % | $ | 2,713.3 | 35.1 | % | $ | 2,259.0 | 33.7 | % | ||||||||||||
Medicaid | 1,993.2 | 22.6 | % | 1,806.6 | 23.4 | % | 1,634.1 | 24.4 | % | |||||||||||||||
Commercial Insurance | 1,856.6 | 21.0 | % | 1,487.9 | 19.3 | % | 1,215.7 | 18.2 | % | |||||||||||||||
Medicare A | 1,021.9 | 11.6 | % | 946.8 | 12.3 | % | 813.2 | 12.2 | % | |||||||||||||||
Private & Other | 501.4 | 5.7 | % | 447.6 | 5.8 | % | 399.6 | 5.9 | % | |||||||||||||||
Medicare B | 87.2 | 1.0 | % | 45.0 | 0.6 | % | 30.5 | 0.4 | % | |||||||||||||||
Department of Labor | — | 0.0 | % | 273.4 | 3.5 | % | 346.0 | 5.2 | % | |||||||||||||||
$ | 8,826.2 | 100.0 | % | $ | 7,720.6 | 100.0 | % | $ | 6,698.1 | 100.0 | % |
10-K
2023 FY
BTSG
BrightSpring Health Services, Inc. Common Stock
6 Mar 24
Annual report
5:11pm
Other | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2023 | 2022 | 2021 | ||||||||||||||||||||||
Revenue | % of Revenue | Revenue | % of Revenue | Revenue | % of Revenue | |||||||||||||||||||
Department of Labor | $ | — | 0.0 | % | $ | 273.4 | 3.5 | % | $ | 346.0 | 5.2 | % | ||||||||||||
Private & Other | — | 0.0 | % | 1.3 | 0.0 | % | — | 0.0 | % | |||||||||||||||
$ | — | 0.0 | % | $ | 274.7 | 3.5 | % | $ | 346.0 | 5.2 | % |
10-K
2023 FY
BTSG
BrightSpring Health Services, Inc. Common Stock
6 Mar 24
Annual report
5:11pm
Consolidated | ||||||||||||||||||||||||
For the Years Ended December 31, | ||||||||||||||||||||||||
2023 | 2022 | 2021 | ||||||||||||||||||||||
Revenue | % of Revenue | Revenue | % of Revenue | Revenue | % of Revenue | |||||||||||||||||||
Medicare D | $ | 3,365.9 | 38.1 | % | $ | 2,713.3 | 35.1 | % | $ | 2,259.0 | 33.7 | % | ||||||||||||
Medicaid | 1,993.2 | 22.6 | % | 1,806.6 | 23.4 | % | 1,634.1 | 24.4 | % | |||||||||||||||
Commercial Insurance | 1,856.6 | 21.0 | % | 1,487.9 | 19.3 | % | 1,215.7 | 18.2 | % | |||||||||||||||
Medicare A | 1,021.9 | 11.6 | % | 946.8 | 12.3 | % | 813.2 | 12.2 | % | |||||||||||||||
Private & Other | 501.4 | 5.7 | % | 447.6 | 5.8 | % | 399.6 | 5.9 | % | |||||||||||||||
Medicare B | 87.2 | 1.0 | % | 45.0 | 0.6 | % | 30.5 | 0.4 | % | |||||||||||||||
Department of Labor | 0.0 | 0.0 | % | 273.4 | 3.5 | % | 346.0 | 5.2 | % | |||||||||||||||
$ | 8,826.2 | 100.0 | % | $ | 7,720.6 | 100.0 | % | $ | 6,698.1 | 100.0 | % |
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