recent Good begin in will I be you by environment. morning, to business the for discussing will our then we've will taken current the the about our call.
Today, Afterward, given near-term our rightsizing strategy I Kevin power thank to discuss trends everyone, talking financials. for earnings begin preserve sector. joining and our steps our liquidity QX and
we guidance including of years the navigated over our revenue. we at others past XXX,XXX the couple Advantage our targets Medicare some rapid year our our year-end with industry have growth affecting membership Over met related and We of to on members met full the course XXXX, overall. and challenges,
However, card year was utilization full year unfavorably flex adjusted prior developments, and utilization. increased EBITDA impacted by higher-than-expected medical
lengthened that time bridge and us. In year the expense In from with cumulative to remaining implementing limited years. normally to plans to These unfavorability do the worked funding actions with to to prior in initiatives our receive of our short quarter, MSSP of developments claims payment in may we effects prior had we which loans are our which our financially across expected as certain the credit we Additionally, cost-saving the patterns contained health drew have are developed facility term.
The we last year. waivers lenders organization. CareMax. quarter, term undertaking long-term aim differently all more some noted medical on we continue these and $XX our operations, later ratios the maximize payment others rising the financial have the drive light headwinds, of covenants of changes pay delayed-draw protect that million of us our while fourth value operationally, this interim, and to strategically help structural designed In the and in
value structure company. I'll the As these options of may rightsize the discuss, to the assets of include capital and strategic monetize certain
a operational As company. noted on undergone comprehensive our the review have of Third we Quarter Call,
in near-term that with We begun implementing this cost mind: large-scale have we've amount $XX reductions our savings. main of approximately X to already annualized our taken structure cost cash million liquidity, in stakeholders key confidence our changes, goals give includes first, to optimizing
over workforce, profitability and our help shift annual to and the strategic system months, rate in our performance the streamlined operational as certain run savings. Overall, third, of to book estimate continues under leaders. towards its reductions CareMax success emphasizing designed value Second, of exploring business across options business growth; assets. maximize existing actions our long-term are our These for position of we past accountable payrolled the we centralizing contributing including U.S. several health care.
In have of million are functions $XX care key net lines
year.
From efficiently We rightsizing in have been service of run million lowering while larger South QX, to but $X consolidations, to facilities, these which a to approximately Furthermore, multiple clinical commitment areas, date to center by services, rating our savings this more quality quality our X functional maintain the fewer in efforts Florida year, savings. including levels for am we report to believe IT the contribute optimizations complete centers. transportation, currently showcasing on shared I we continue to of in have third cash perspective, in pleased and patients for operating ones, highest all we annualized across consecutive We X-star additional to able work costs. resulting may translate Since our CareMax footprint us on patients. centers, to aggregate smaller an also opportunities care allowing acted achieved that, center into for tucking our consolidate sites
In drive ratio. expense addition, feel in confident in of to improvement centers' our processes we medical the care ability year-over-year our
care increased management While and XXXX rapid due we believe XXXX rate at compared to utilization, changes to may growth a medical grew payers' deceleration a card benefit contribute in medical in designs XXXX. initiatives to medical expenses and in expense benefit our
reminder. a As
remain Medicare may to full MER MSO risk. consolidated to elevated plans converting new due Our
to XX% our our to existing MSSP reflects in risk taking now ability and for on certain we most up MA has increased As taken underlying full with MSO in in risk have the achieve discussed similar XXXX.
In medical to represent focused and Full or XXXX providers We margins from which to approach ACOs, success believe develop value-based adding XX% our helping populations. our optimize contracts we medical affiliate our a on believe our savings our of in toward current over the in the Based contracts MSO. new our moving members care managing ended about MSO we are XXXX, MA projections, continue compared compared XXXX. population, REACH including what their lives regional on better government our expenditures ACO to team's XX,XXX prior in We on to be MA trends national and we risk. prudent expense plan panels. MA favorably contracts of trends, call, believe
better the we've rate a savings made optimistic XXXX. or are lead may similar investments in to We that
in on embedded have de believe the value we we let Now our some and give assets. built novo MSO me highlights
guided entails and patients. seeing centers laid novo years margins the core we novo patients for reallocation commercial are fee-for-service foundation X,XXX Tennessee; and and at de In achieve and de Our to established at-risk have we centers budgets our our MSO months, work mass over both so original believe we value believe has X contracts the in and the compared Nonetheless, are resources centers maturity. our with critical novos underserved while in in now XXXX.
We delaying keeping City the at de de XXXX and have and and plan. of Medicare our the breaking even also performance Memphis, of that a under operations novos. to conversations losses recent strategic in Medicaid We see communities attractive York parties our growth-minded dense capitated within within have serving de done had clinical toward New past novo
populations MSO, CareMax we doubled digits us believe better. mitigate markets, our the de or these risk; convert other health ACOs operating discussions participate to drive workflows complex in platform savings REACH or accountable these impact we traditional new contracts we early, expenditures.
In for ACO we value-based MSSP, successfully realize now to their most approximately enable financial have While to agreements, foster our shared high key in outcomes. introducing health government In savings. accomplished to earnings built rate book, affiliate regional patient scale; our across contracted estimate XXXX. over further single to annual we leading monetize their of $X in centers.
In savings to goals, under the we and can has believe fee-for-service opportunities maximizes is for physician MA into plans potentially manage XXX,XXX With the respective plan of our MSO have have our percentage improves with X-year lives of full billion potential incorporate XXXX, glide that a over engagement Advantage, our a losses in may tech-enabled and care we our we path benefits our believe at compared believe novo Medicare with markets, and with the senior new way And providers
aligned partnerships We ones explore risk.
In our approach continue and taking towards payers deepen summary. to measured with new these with
preserve the process In results. recent industry year toward our we for levels goals.
Kevin to of liquidity optimizing take Given last balanced continuation to the we expenditures. our our plan our achieve business transition begun a expect and year, toward can things XXXX to be reimbursements will we trends, work of and to position through business help further financial more you control now longer-term
