PIII - Earnings call transcript Q2 2024

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Operator

Good day, and welcome to the P3 Health Partners Second Quarter 2024 Earnings Call. [Operator Instructions]

Please note, this event is being recorded. I would now like to turn the conference over to Ryan Halsted Jr., Investor Relations, Gilmartin Group. Please go ahead.

Ryan Halsted

Thank you, operator, and thank you for joining us today.

the statements would are made under U.S. with everyone to forward-looking proceed the certain that during we call, like I remind statements Before this call long-term statements financial federal regarding laws including outlook securities and target. our These forward-looking are on that events current of our condition we future predictions believe and about our financial operations. based and business, projections financial largely expectations and are statements only and trends may affect results differ materially statements subject to cause risks actual expectations. uncertainties present and could historical are that from These to or experience results

date Additional information SEC. to no undertakes our on is concerning made as statements. factors cause update hereof to the these actual obligation the forward-looking call in forward-looking The that this and revise differ results could this the periodic contained with only during made company from filed or statements reports statements speak call of

measures non-GAAP a per certain expense, per on to lives margin medical adjusted refer month, month and member for cash adjusted persistent non-GAAP per related the call, operating month, measures EBITDA prepared EBITDA, will are financial measures. of use accordance per these performance addition There not a to member financial limitations substitute to medical for financial margin These used. member in GAAP. including non-GAAP margin, adjusted per measures We per financial medical with the number and of or are superior in of to this

presented measures to is non-GAAP PX most our of Coffman, we which release other CEO PX that filings, from the be non-GAAP refer example, Partners. GAAP Partners call measures now for these For call of contained I Health of financial issued the will the the comparable website. the differently. Please over reconciliation may financial the appendix SEC turn Investors press directly this and Aric accessed today in page may Health titled release similarly our measures. Information a calculate to in of earnings companies on to

Aric Coffman

afternoon, Good everyone.

Partners scaled I we X,XXX scale at thrilled in full PX as me how platform taking by payers, a is first over helm start am Let Health we're confidence and horizon. value position providers, key me to the X XX of PX a our give comprising to emphasize investors I capital-light counties, some in on would are from risk PX CEO XXX,XXX to of our at expressing first across that time be states PCPs a to our that aspects along like great quarter. lives. multiyear deliver with patients,

market goal operating approaching with are accelerated $X XXX% market and by we fee-for-service of arrangements further beneficiaries First, by in XXXX. value-based our large rapidly growing care total and trillion, addressable CMS' a to have Medicare

XXXX. XX% focus core nearly of Our means the than contracts over in the geographies new the overall opportunity in represents Medicare and or Less Advantage eligible of million lives we market, which full of have Medicare our XX% through time. space reach contracts Medicare is which are Medicare today, approximately to expand XX market risk tremendous

risk fully model X which offers advantages. built business unique Our key a delegated is on strategy,

strong daily and the plans our into operations collaboration directly creating company it First, of avenues partnerships. our for building links health

Secondly, clinicians, it care. in with facilitates meaningful essential for interactions success value-based

patient and upstream a consistent requested for provides ensuring into experience. protocols are it best practice followed insights Lastly, services, superior early

relationships local, of a turning our plans a PX. This MA health plans, seeing we're our strong are Next, partnered payer key succeed to makes their with serve position our puts physicians independent greater across the in position patients. no primary enjoy diversified health up the that positions as our many help and groups payer We're to populations in of in our top in Health trend us in regional with excellent continued one proven care our a revenue. value market. plans ability care. national our to expertise senior Today, and They to strength. care XX% this partner managing mix leading of us clear primary value-based than markets, volatile success. Similar and we

the these identified out with among with to of and is care identified but initiatives key I early on have well network. and We beyond independents sustainable enhance drive excellent ability reach our care first their patient in by specialty capabilities clinicians patients. Building our will primary continuum, dedication CEO entire are care the physicians as days X,XXX aspects clinicians additional XX One provide their my several profitability. own further during goes our to and I've on all partner of to thousands key value-based physicians, as that that the round such motivated the strengths.

our intensifying star are performance. on focus we First, ratings

what care are screenings they get ensure targeting need. unique such we needs care are. as are with that know preventative to They're allow gaps, management. that same the medication nuances improving to interventions them need. they primary patients needs the adherence, care address chronic quality our chronic the to enhancing they disease and back care that to We At We targeted are physician their geographical linked patients us get that conditions and of increasing develop time, ensuring being the

identified payers. upon agreements our contract better opportunities Next, with existing to substantial our I've evaluating risk portfolio, align

the performance. these value we evolved are so, over doing ensure our to past our while to proposition, better years. network provider is for reflect financial contracts enhanced the In accurately which of improving our members business. Transitioning our prospects has X ensuring significantly goal Our care

While an potential our effort level for efforts an focused and improvement those on show our provider groups continue provider always patient our partners put differentiated incredible to most will the we partners. enjoy, asset we We've outcomes. have elevate on and higher identified that to is we of to opportunities provider energy network even our behind

scrutinizing quarters. don't with partnerships begun adjust However, further will accordingly. relationships provider our be groups going best the network those provider and we'll lead coming to addressing groups performance, We've efforts improved forward, these when underperforming in we already these

on Next, increasing we're particular existing PCPs. pursuing with density our within a smart member growth focus strategies

For capture of share we REACH, enhancing ACO the adding REACH serve. our providers of are we existing mind the by depth practices more example, membership Medicare ACO an to

aligned This quarter, the lives at new recorded to of total X,XXX ACO we XX,XXX, lives, ACO last bringing X,XXX up end year. our from voluntarily

we Additionally, January last cycle PCPs for this and date. in REACH XXXX submitted a ACO start of XXX

the evolution our One company and deliver make of The the business. first of principles my quarters of our worked team the providers to level partners, so operations hard to is highest more do patients management of I continued a to our and to profitably. service expect over efficient past has and

looking cost operations across our seeing process part I'm reduction increasing to We of of and at amount an every with are momentum for efficiency. opportunities people, technology medical initiatives. improve

capital an in future. We rigor of will higher on return employ even on focus and the level accountability invested

XXXX to of for line, supported second of results, quarter We rate the performance. strong second the XX% and our financial line by approximately strong with Turning retention patients. with XX% QX were persistency which our Starting and improving year-over-year, an revenue reported of a our our top quarter PCPs grew in XX% expectations. rate increased pipeline at

strong sequentially, decrease were our a member utilization a of medical per cost month $XXX, next Turning Medical and cost our normalizing execution. supporting view reflecting X% trend ratio. of per to

Moving on to adjusted EBITDA.

loss approximately our quarter-over-quarter adjusted continue improving We EBITDA show XX%. improvement to basis, by on a

medical our approach. his on a in Atul conservative ratio cost the second in offset was $X section. this reserve quarter, For was loss million. expand will EBITDA adjusted by The our improvement

Overall, we like to are the needs acknowledge track set are range in EBITDA profitability. on adjusted to done of million. us guidance turn initiatives our we with Kavthekar. that and the to $XX able to reiterating our positive to of Atul to forth Accordingly, drive I year would full the work be that, CFO, previous $XX sustained over million be it positive towards With

Atul Kavthekar

by progress I'll towards today begin quarter our reviewing you, achieving recent year our guidance. Aric. our Thank full and

of of share our Following liquidity as end quarter. position that, I'll on the updates the

with with year-over-year, up funding, our to X results A $XXX line were X% XXX,XXX compared of key around revenue of XX% previous our our line our revenue the year. The $XXX growth which XX% of was with a top which growth, drivers include few increased quarter in rate over approximately growth expectations members, revenue of total and million, to reflecting approximately this. million along Second capitated notes member year-over-year.

end quarter the that year. of included our First, revenue in sweeps And already that XXXX second year-over-year exceeds impacts a of the guidance of full second, for which the quarter, of range low our level the recognition membership benefit of comparison.

this $XXX improvement and ratio. profitability a year Our X% improvement a of medical margin PMPM demonstration medical and We medical clear $XX of forward. initiatives cost on a basis. million expense was this of in our the going our a or consider to reflects continued This our impact precursor sequential

potential for reserves our reflecting includes in modest quarter, this accruing anticipated prudence a to context, our added claims. For in continued the increase

reserves We with will over our ensure actuaries claims actual continue are auditors aligned year. work to to rest adequately the and paid with of the our

expense year-over-year operating the these trends, our expense XX% in of X% of focus management. current This our demonstration a is Regarding ongoing continued quarter. revenue to decreased on be

including investigate the first our profitable to where appropriate to efficiencies, harvest loss $X XX% strong our the momentum or opportunities confident quarter EBITDA to this growth. Adjusted million leveraging still efficiencies was ability improvement. cost illustrates smart sequential are PMPM. technology continue a on for with quarter in We and new deliver that $XX Again, support from

providing $XX approximately proceeds. of $XX capital strengthens During successfully support gross the balance raise we financial sheet, path infusion significantly capital with XX% us cash additional We quarter, to of in our to cash $XX to completed approximately from flexibility quarter our a million roughly with ended in cash This in reduction million, sustainable our QX. while positivity flow million and represents which a operating the used activities net growth. cutting

full Turning to year. the

our reiterating XXXX are guidance. We full year

$X.XX membership revenue $X.XX to projected expect XXX,XXX and billion. between with range XXX,XXX billion between members and We

guidance million be or $XXX margin $XXX $XX and our per $XX $XXX to and million a Our anticipated month medical XXXX. adjusted member in will is per $XXX EBITDA on between million basis, to million

our several guidance We reasons. are in for confident reiterating

to are from for of know, plans to this received health health as plan CMS. At revenues anticipate once you us to we've final recognize our the and working this in to revenue have of and with this from We year documentation the expect these is partners our each sweeps as and recognize appropriate work them revenue of second determine revenue finalized. our policy completion time, final amounts. currently half related enables plan received First, recognition documentation most we

cost sequential and between Second, medical first year. we've efforts X% second around expense, claims talked reduction our management a the quarter medical and in of recorded our about the PMPM nearly

traction will in further as continue to anticipate we Bacchus in operating through continue Dr. and see metrics, a We the year. moment improvements as important elaborate on

new of principle our reducing half the are Finally, waste additional in initiatives are under any already members. capturing underway. impact with several second efficiencies cost without committed to we the These efficiencies adverse to

major over as driving time for the forward these this is our reporting to for our Thank year. like see factors not exhaustive as important While and an to updates to the I'd look turn they clinical list, it we initiatives you Bacchus second your provide Dr. to some our operations. half optimism through progress and on again

Amir Bacchus

Thanks, Atul.

PX start by the closely, macro and addressing investors follow that environment Let different. are me how operations

We as same payers haven't been the medical level cost some inflation of reporting. experienced have

overexposure As base diversified payer. payer from earlier, prevents single to a mentioned our Aric meaningful us having any

]. Turning Symmetrix to [

visits Our overall emergency per XX.X% emergency as did visits per admits per decreased X,XXX decreased Admits decreased department X,XXX. X,XXX sequentially to room our and XX.X%.

rates rates, to readmission decreased for the Observations decreased on per we by improve company around sequentially to X-midnight demonstrating also continue by to X% X,XXX observation execute addition, the our XX%, over ability rule. and sequentially. X% In

delegated to for of oncological Additionally, decreasing places continue drug unnecessary and Part D our costs procedures, utilization service. around appropriate plans using in we see utilization

in programs allowing and improve mix, our is our of leading the and transition of hence, patients to and ill gap care closures hospice management patient of our management. their most our reduction our quality our of both care and and the patients more medical a acuity critically to care conditions in contributing where of better including of thus in connect touch understanding us acknowledge to better ability are through the overall appropriate. Furthermore, consistently health Our expenses, to use enhancing

As of plan remarks. directing enablement will with us highly collaborating awareness Aric the this experience. center We XXXX, achieve into goals. will forward comprehensive our partnering This patients greater the second integrating half on enhanced our strategy closing it into year we to look medical approach Aric? a groups towards in committed with by more complement to with I'll pass and back providers our that, and providers' clinical With tools strategy directly scope allow to for EMRs extensive specialist.

Aric Coffman

to compelling the industry, Thanks, and PX profitability business the clear Amir. our confident in future care model, In our closing, the path of sector team. our I'm in health experienced

with have opportunities value-based in for by XX% into market of a push XXXX that growing seniors model. the a a full than care move value-based by care We a in reflects to seniors risk TAM, contracts CMS all of less

from heard your success. progress improvement I more in We're we in you across time, positioned for the sharing on As are showing believe Amir, at and care Thank QX my metrics and not leading forward health and PX to for future. sound transformation participating near we're about look just you our key core, I the is it. in footing

Operator

Instructions] [Operator

The first Capital comes from Street Brooks question with Lake O'Neil Markets.

Brooks O'Neil

start providers level? couple how questions. a have to responded could by I of first quick have asking, you Aric, affiliated like give at a the if CEO the us for I'd to sense change

Aric Coffman

out I the and get much here. Thanks partners. it hasn't question. the would created so positive waves very meet to at Aric say, all. really And Brooks, had chance and markets with I've generally, for into the

my last I this as partner the continues during and XX over great successor think a to days was transition Sherif, be.

Brooks O'Neil

Great.

you question. ask me a different Let

my terms So getting together about Medicare dinner opportunity doctor you profound deeper to and the a I a you and for weeks opportunity some said you Could that in access go of significant on as refresh have when impact at more a to results. that you we view PX? you ago, your have and might length talked exactly per members Advantage had of couple why what just how memory

Aric Coffman

think of appreciate transformation. about question. really Yes, a how Brooks. the important I care value-based It's we part

be had meet, more to the we the things night, new to to better gets, clinician they're perform whenever chance as those on And the repetition going each we practice discussed and able so learning the they're that things.

where we network though efforts underway so that have so in only additional within density way a adding is And XX doing been as today, even in and at our continue providers smart look of we see already days to it's you'll over deeply opportunities payer time on that as more provider expand think that as we I well evaluate the basis. And the contracts, growth. as both we to network per a have

density panel for is that important So really us.

Brooks O'Neil

it what And down road? affiliated you go you Medicare percent of your control small to total over that the Aric, might or my memory, only essentially refresh think -- could think And with is have refresh enrollment my I Advantage you providers, me touching roughly told what that today? a many memory, of base, the providers' number

Aric Coffman

we have Medicare of that into networks, What Brooks. growth with ACO to includes a our Yes, opportunity existing as I'll like our say for is both of providers that additional care lots primary well as in add seniors programs Advantage And their combination REACH. panels.

them they so with patients one the like processes we'd can our with with the density patients that panels clinicians many they we the their existing handle get as -- within yes, to using that each density and we're And that have of to help manage so that today. as the same

Brooks O'Neil

you day timing, bit but think are mention brains confess, a been one. heard I busy it's Great. then and ask about little me a my I I something Atul, And scattered. quick one let just Atul, sweep

or you year-over-year thought So could an just whether impact comparison rephrase in say of on the QX? that sweep impact timing you here again, the had

Atul Kavthekar

Yes.

couple Brooks, of So things. a

quarter, for That's which we year-over-year I recall, little as the and you may nature final to. it, timing So the In the into unpredictable, payment made the higher. had or fall quarter be bit another. comparison this 'XX business, one in last was sweeps and all therefore, in is calendar reality accrued sweeps it our a whether of year, can second alluding a second quarter that of bit just the

Operator

Nephron Josh The next question with Research. from Raskin comes

Joshua Raskin

this it how I'm are X,XXX maybe at just what I and we're with with impact rule, XX% a we're you incongruous guess, of from an hearing you stays curious, right. observation Just Did to make sure on then start sequentially want -- provider year-over-year, And the like, plans level? seems X midnight to I down per what seeing say lives. were -- got I want just

Amir Bacchus

Josh, and surprised we okay, or be as looked said, see Yes, can. Yes. we the you lives like hear actually, many as many to us, at you and for too, delegated were to or know, is we as again. on Good you Amir. as to data plans good we this as

hospitals we the rule. and concurrent that have doing rule midnight that, a the the and through reduce observation come that, opportunity as work just review those plan monitor and So the it. deny with do it. seeing meet through accept It just deny directly In X patients if the we doesn't admission we to working actively we midnight the and/or We're X today. or

the having XXXX. able third is significant sequentially of XXXX, XX% what the yes, saw me increase, to quarter we to fourth after a bend for excuse to of were quarter in that which us, we X from X So -- quarter see

Joshua Raskin

All right.

I may up possible, So right? assume running reacted to you XQ, XQ, you like but still be year-over-year, if

Amir Bacchus

again, Say that Josh.

Joshua Raskin

Your decrease was curious observation XQ, stays of XX% terms there, I year-over-year? in like but on a it the versus down is if the was year-over-year, like

Amir Bacchus

that sure it can get you can tomorrow. or we that chat possibly is I back for have tell you And a little to on bit what year-over-year. probably and later

Joshua Raskin

No worries. right. All

you potentially How physician, are pros XXXX the of talking strategy, even local cons the curious markets growth compare say that new by growth density you local how for those this and increasing markets increased within weighing other against and physicians maybe opportunities density the avenues? you're and sort or On even adjacent of about adding I'm markets?

Aric Coffman

from this to you. Josh, Good hear is Aric.

going what the as flow business. that's think cash we in us, for as in because some say it's means of accretive in really is in have that bring area into we big geographic of we growth. markets to expansion is opportunities we're profitable exist. to we where today have for like be to growth something we smart And that a around want try So strategy have, terms the are And at And rather opportunities go we deeper than front going well we as smart to know when I that the the to growth look those the thanks both question. new a the of underwriting

Joshua Raskin

on you contractual last their maybe makes plans an XXXX? maybe any Can you then submitted for on that they where working just keen you That MA just of health before getting? And did for update with and sense. get bids changes to sort Okay. And one. were

Aric Coffman

Yes.

Josh. been working And one, a great a XXXX There's and you has rest hard. too. of wood end year the point. Another of Thank in for to the team lot the to that of our question, to get lot work chop left

that currently have discussions ongoing. are We several

into In from lot funding process around cycle, match of marketplace. the visibility we're as those benefits product the whether soon have that's terms will have better AP full growth that's be think as we're what the multiple rationalizing of a what hearing is of the performance. are and And or exactly changes the across bid whether that sense consistent to in fronts, trends bid what benefit hearing and we'll very discussion we seeing people overall a we are, impact little the

Operator

comes next from The question BTIG. with Larsen David

Jenny Shen

that And now? to cost, those how to you're Dave. of X% you conversations which touch X% I is about for your is asking up the on What trending auditors. your guys some historically. on, just your was 'XX, conversations reserve X% were at that from you in I progressing? mentioned that to Shen they of claims QX having know This are of Jenny wanted with just

Aric Coffman

progressing our are Well, just point. The very finer but are the one really actuaries. conversations with conversations well,

think and that they then factors to risk parties third the levels reviewing claims establishing are triangles, are reserves actuaries the and our ought be. pad what assessing So

those question, are your conversations answer well. to going very So

of bit with one the continue nature to our the call our of with have Each working contracts them, We we understand we'll terms each continue them nuances contracts. the since some last of risk with forward, and different of information. going in them, been and profile just with is helping of them working and a work the some little our of

are forward and KPIs calculus. having to excellent into with that One stressing we them of that seeing, characteristics going and things the the of are them some their we're really going be operational factored

working had the plans them for apply. that was where actually factor safety time In fact, us of go in that pad appropriate we some the forward. the And actuaries with a as few that reduce quarter factor, they at that the we of we'll it determined to continue

So question. your hopefully, that answers

Jenny Shen

the was QX? Yes. similar it in down pretty Is what it gone X% Or there? from to has

Aric Coffman

that has at we plan is gone a work plan-by-plan go It it factor. specific but a level. aggregated basis. will not continue by down. see We'd It's percentage plan further, with to an It on to like down

Some of them have been reduced absolutely.

Jenny Shen

ask great. follow-up, sounds That about quick wanted just Okay. a Any updates there. VXX. to And for just

was peers if the recently X% XXXX. impact expected One be think of could will what PX? you help have your said to impact wondering they quantify for that you a I on

Amir Bacchus

this with with Jenny. overall the can I always XX Version company. the around This We to percent that XX, we've obviously, X.X don't exact now year and can before thanks, Version as right we basically or for We RAF today. number and we felt conversation that. I give an last improve Again, is that going So done of knew had have you despite continue it. have us for Amir. we've to our our into baseline at XX, RAF adapting

about tell revenue adjustment X% based in actual look call what on we current And that could as a we from at bodes activities. as overall described as increase we in earlier or we well on, our However, our risk you, the MRA medical our we had revenue, described saw think which and overall had I just RAF. Atul lift continued an we

where but improve we're to the So going only stand as continuing we to future. in we've not the We're that as confident seen continue in we we're towards what from past, move today.

Operator

TD from question The Langston with Ryan Cowen. comes next

Ryan Langston

that or to any footprints of some Have simplifying know you anticipated contracts, any, your talk the out? that discussions those you in about payer call you'd 'XX be reevaluating XXXX. willing partners had changes heard I We've maybe insurers of into of with guess,

Aric Coffman

the Aric our lot answer question. give the in conversations it partners. then payer are a Coffman, the payer team a taking that these folks absolutely, But I'll we've is have for and with think additionally. And of bids counties what at process. view built a a look and continuing the county-by-county success think their be business the is how hadn't about products hard That we that look and work. I had. thanks of are way. the start on the lot up had have same anything the what space they a side This Ryan, or a And will This like

I we're like. mentioned bit getting a early as for completion stages will And little XXXX our earlier, to in of the what look

So all discussion. that's in still

out it for into be the heading think design our everything us, got premature will XXXX. But a I as bit will visibility and priority us into around how shaking get like a that to what we exactly plans benefit look it's little and that's for it. on we've until big for attention

William Bettermann

at I've at that Yes. to as also, providers the in expect. addition well, Bettermann. the looking Are would performing payers, are is add as they looking And I level at that we we would Ryan, just Bill in talked our past, this right?

evaluating as our providers with. we're but as payers, just we're so that not the working And well

Ryan Langston

the amount think of I curious we prepared in the anything on I narrowed bit of pretty And it. But the decent cadence last one loss maybe rest year think about the How me. a year. like for just the to one should for looks just flow least I free end remarks, this might anything on from but a or cash first free actually, bit, that -- Got it of maybe heard half year quick at then the we year. don't where not a cash? say should

Atul Kavthekar

you're burn. the first team second cash of here. really is terms like part of -- the yes, this look to lot I'm Atul you're Kavthekar, probably the Yes, half first of expecting a year glad Ryan, But the the welcome. in are we glad half year of

reductions we the kind the a of themselves I the surface the things lag some and that have. third that is with regards think of lag are through plans that time expecting show the will cost delegated to up we in One within and fourth factor uptick to claims quarter potential be actually of the that

the be -- reduction cash to it's factors other hope But we direct that in a year. the a there's in for a second that's the see go factor well. outflow oversimplify into of So the claims it I along half timing really but the paying lot should of the it, very want something first that to will to be of as takeaway half. lines think similar I don't

Operator

next Daniels The Ryan from comes question William Blair. with

Jack Senft

for is Senft Ryan This Daniels. Jack on

The first medical totaled million. around $XX half margin

medical year in this think margin confidence this Can really, remarks implies the kind your revenue pretty of the the against about improvement back So achieving metric, you a mentioned a of that? talk here we this general like in hitting function improvement? your full And of just as should solid expected the that of have prepared coming in guide year. in you half your you about visibility level just

Aric Coffman

for question. Yes. No, thanks the

all sure Let colleagues But on me to it. add on of revenue start off I and some on may wouldn't it then my want improvement. I'm to expectation the put

And it's we again, the sweeps second those any expect the a with they -- we accrual settle when half the about plans expectation. in basis, the health and things we of year. the matter timing show but of related on One talked will individual we is adjustments of what to that up, be when the an when the

the cost big we QX a part increasing is a And factor going So have saw those pretty things to visibility into. And significant that here movement that medical from are be the reduction. we -- we is to that other QX.

improvement that the field data half Our least and able suggests seeing that expectation, in much here get to year. given back at should of that and the we the into everything going see the we of be an

to things -- ability that give that the increased are in factor those so together really us our hit. And that confidence X

Jack Senft

question. If I'm another your I elevated, guys could just assuming are Okay. noted that In that underperforming those quick can on which -- prepared think are I second you average. remarks, some be you too, groups ask provider that identified

elevating of more here like puts kind those providers, exiting So Or when kind typically just Is relationship? what them the like? it takes kind to look what and encourage the easy to before to efficiently? process of are the perform it comes fairly does of

Amir Bacchus

the Yes. for question. Thanks

So them share more doing, as Aric to important. into described practices of earlier those more density in the efficiently. And is you their prepared into be conversation mind then in get you remarks, they what the need the very get practicing getting

in hand. have concentrate So working programs, In better groups having results, the different even to thing very conversations we to in have than where the experienced our us, some large of more that that practices we so, with create align in as we're conversations as cetera, well the improve in them can are practices even you surplus in the into can they doing providers? some to and today. The that them et work hand incentives them there as results, So well have, achieve some better sit to things the even management say, with for our with markets as of share back-end with our all we savings starting the those we're to those stand right? large those care of actually patients aligned that directly

some risk. providers the Medicare our have versus with and very, to lives want with to practices not So accord to are minimal Advantage we are able especially enthusiasm that more confident, the do may that move to in have very used be we of that

the that ones we're are types So today. of having those conversations

Aric Coffman

It's And investments enhance this Amir is points too, a I'll couple with in We finer set groups agreeing said. well. the stratified people their our understand just and people up we've as additionally here, in middle are have Aric, in a also bit will ability then And about capability specific to might that underperforming. the everything of perform. that that because middle made the and network not be about it's to moving add --

is maybe -- or heavy relationship need a is a up comes win misunderstanding emphasize information we to that And are anything that that maybe education. give some to of they there's us access this so will one this those more tactics real more quicker the better their address the business. deployed things them more that a And on or of we've allow time, and performance, access and

XX% and network. XX% then it's we persistent a we and panels lot the efficiencies so provider providers those the the relationships of in market that's way get place in other think the a with about And patients, persistent a where

Operator

Health This session Call. PX Thank for and attending presentation. you the concludes Quarter Earnings today's Partners XXXX question-and-answer Second our

disconnect. now may You

P3 Health Partners (PIII) 7 Aug 242024 Q2 Earnings call transcript