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Mar 31, 2022
NeueHealth Q1 2022 Earnings Report
Bright Health Group reported a strong start to the year with solid performance and revenue increase.
Key Takeaways
Bright Health Group reported a revenue of $1.8 billion, up 109.9% from Q1'21. The GAAP Net Loss was $180.6 million and the Adjusted EBITDA loss was $74.8 million. The company served 1.16 million Bright HealthCare members and over 530,000 NeueHealth value-based patients.
Revenue of $1.8 billion, up 109.9% from Q1'21.
Adjusted EBITDA loss of $74.8 million.
GAAP Net Loss of $180.6 million.
Enterprise Medical Cost Ratio of 84.8%, Bright HealthCare Medical Cost Ratio of 83.1%.
NeueHealth
NeueHealth
Forward Guidance
Bright Health Group provided full year 2022 guidance, expecting total Revenue between $6.8 billion and $7.1 billion with an enterprise Medical Cost Ratio between 90% and 94%.
Positive Outlook
- Total Revenue is expected to be $6.8 billion to $7.1 billion.
- Bright HealthCare end-of-year membership is expected to be approximately 1,000,000.
- NeueHealth Revenue is expected to be approximately $2.3 billion.
- Intercompany Revenue elimination is expected to be approximately $1.2 to $1.4 billion.
- Adjusted EBITDA for 2022 is expected to be a loss of between $500.0 and $800.0 million.