Bright Health Group Inc. (NASDAQ: BHG) stock declines by 26.56% during current market trading. Bright Health Group was founded on the notion that by combining the greatest local resources in health systems with the financing of care, they can improve the consumer experience, improve clinical outcomes, minimize waste, and reduce costs. They’re a healthcare organization working with their Care Partners to create a national Integrated System of Care.
BHG stock, Financial Outcomes
Bright Health Group announced its second-quarter 2021 financial highlights. Given below is the summary:
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- The net GAAP revenue calculated for the second quarter of 2021 was $1,114 million, it has increased 275% from $297 million in the previous year’s second quarter.
- Bright HealthCare membership increased by 220 percent to 662,825, up from 207,224 in Q2 of 2020.
- After correcting for the purchase of Centrum Medical Holdings, which closed on July 1, 2021, NeueHealth Value-Based Patients reached 42,305, up 118 percent from Q2’20, with a further increase to 169,983 after adjusting for the acquisition of Centrum Medical Holdings, which concluded on July 1, 2021.
Mike Mikan, President, and CEO of BHG Stock stated,
With solid second-quarter results, they began their journey as a public company, displaying considerable growth across both NeueHealth, its tailored care delivery business, and Bright HealthCare, the healthcare finance and distribution business. Through their alignment approach, which has proved to make healthcare more personal, simple, and inexpensive for consumers and their Care Partners, they are dedicated on improving healthcare in America for consumers and their Care Partners. Bright Heath is committed to expanding and diversifying its company, and they are pleased to introduce their unique approach to other cities around the country.
Outlook for 2021
Bright Health Group expects sales of $4.0 billion to $4.2 billion, with an overall medical cost ratio of 86 percent plus or minus 200 basis points. Bright HealthCare’s end-of-year membership is estimated to be around 650,000 members, while NeueHealth’s income is expected to be around $425 million. Lastly, intercompany revenue reduction is projected to be around ($275) million, which includes payments from Bright HealthCare to NeueHealth for administering patient care and network services.