Bright Health

Stellar Health Appoints Rebecca Schwietz as New Chief Operating Officer

Retrieved on: 
Tuesday, January 23, 2024
Stellar, Entrepreneurship, Utilization management, Bright Health, Growth, Management

NEW YORK, Jan. 23, 2024 /PRNewswire/ -- Stellar Health, a healthcare technology company focused on revolutionizing value-based care, is pleased to announce the appointment of Rebecca Schwietz as its new Chief Operating Officer (COO).

Key Points: 
  • NEW YORK, Jan. 23, 2024 /PRNewswire/ -- Stellar Health, a healthcare technology company focused on revolutionizing value-based care, is pleased to announce the appointment of Rebecca Schwietz as its new Chief Operating Officer (COO).
  • Schwietz joins Stellar Health with an impressive background in healthcare operations and strategy.
  • "As Stellar Health continues to expand and scale its business, it is crucial to bring aboard the right leadership," said Michael Meng CEO and Co-Founder of Stellar Health.
  • "It is an honor to join the Stellar Health team during this exciting phase of growth and innovation," said Schwietz.

Bright Health Group Closes the Sale of its California Medicare Advantage Business to Molina Healthcare

Retrieved on: 
Tuesday, January 2, 2024
Professional Services, Health, Insurance, Other Health, Health Insurance, General Health, Simpson Thacher & Bartlett, Sale, BHG, Brand New Day, J. P. Morgan, Bright Health

Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced that it has successfully completed the sale of its California Medicare Advantage business, Brand New Day and Central Health Plan, to Molina Healthcare, Inc. (“Molina”).

Key Points: 
  • Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced that it has successfully completed the sale of its California Medicare Advantage business, Brand New Day and Central Health Plan, to Molina Healthcare, Inc. (“Molina”).
  • Concurrent with the closing of the sale, the Company also made the final repayment on its amended credit facility with J.P. Morgan, eliminating its secured debt.
  • The remaining proceeds of the sale are expected to provide a solid foundation for the Company to continue to advance its continuing business, NeueHealth, in 2024 and beyond.
  • Moelis & Company LLC served as Bright Health’s financial advisor and Simpson Thacher & Bartlett LLP acted as Bright Health’s legal advisor in connection with the sale.

Bright Health Group Strengthens Capital Position with Amendment to its Credit Facility, Impending Close of the Sale of its California Medicare Advantage Business

Retrieved on: 
Friday, December 29, 2023
General Health, Health, Other Health, Sale, BHG, J. P. Morgan, Insurance, ACA, Bright Health, Medicaid, CMS

Upon payment of such amount, which is expected to be made concurrently with the closing of the sale of the Company’s California Medicare Advantage business (the “MA Sale”), the Company’s secured debt will be eliminated.

Key Points: 
  • Upon payment of such amount, which is expected to be made concurrently with the closing of the sale of the Company’s California Medicare Advantage business (the “MA Sale”), the Company’s secured debt will be eliminated.
  • The Company expects to use the remaining proceeds from the MA Sale to meaningfully improve the capital position of Bright Health’s continuing business.
  • The Company expects the MA Sale to close on or about January 1, 2024, and has received all required regulatory approvals.
  • In 2024, Bright Health will solely focus on its continuing business, NeueHealth, increasing access to high-quality healthcare through its differentiated, value-driven care model that serves all populations across the ACA Marketplace, Medicare, and Medicaid.

BRIGHT HEALTH ALERT: Bragar Eagel & Squire, P.C. is Investigating Bright Health Group, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Retrieved on: 
Thursday, November 30, 2023
Class Action Lawsuit, Professional Services, Legal, Defendant, NYSE, Telephone, Risk, Class, MCR, Jeanne Eagels, COVID-19, IPO, P.C, Failure, BHG, News, Bright Health

Our investigation concerns whether the board of directors of Bright Health have breached their fiduciary duties to the company.

Key Points: 
  • Our investigation concerns whether the board of directors of Bright Health have breached their fiduciary duties to the company.
  • Additionally, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies.
  • Among other results, Bright Health reported earnings per share of -$0.48 as calculated under U.S. generally accepted accounting principles, missing consensus estimates by $0.31.
  • As of the time this Complaint was filed, the price of Bright Health common stock continues to trade below the $18.00 per share Offering price, damaging investors.

Bright Health Group Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Practice Management, Professional Services, Managed Care, Other Health, Health, General Health, Health Technology, Health Insurance, Hospitals, Insurance, Telemedicine, Virtual Medicine, Adjustment, Bright Health, Regulation, Form, Disclosure, GAAP, Regulation Fair Disclosure, Depreciation, Uncertainty

For full year 2023, Bright Health is providing the following guidance and commentary:

Key Points: 
  • For full year 2023, Bright Health is providing the following guidance and commentary:
    Bright Health is updating its 2023 financial outlook to reflect revised Revenue forecasts for the Care Solutions segment.
  • As previously announced, Bright Health Group will discuss the Company’s results, strategy, and outlook on a conference call with investors at 8:00 a.m. Eastern Time today.
  • Bright Health Group will host a live webcast of this conference call which can be accessed from the Investor Relations page of the company’s website (investors.brighthealthgroup.com).
  • This earnings release and the Form 8-K filed November 7, 2023 can be accessed on the Investor Relations page of the Company’s website.

Bright Health Group to Host Third Quarter 2023 Earnings Conference Call on November 7, 2023

Retrieved on: 
Friday, October 13, 2023
Nursing, Health, Hospitals, Health Technology, Other Health, Managed Care, BHG, NYSE, Fullerton Health Group, Telephone, Bright Health, Phase 10

Bright Health Group, Inc. ("Bright Health") (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced it will report Third Quarter financial results before the financial markets open on Tuesday, November 7, 2023, followed by a conference call at 8:00 AM Eastern Time.

Key Points: 
  • Bright Health Group, Inc. ("Bright Health") (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced it will report Third Quarter financial results before the financial markets open on Tuesday, November 7, 2023, followed by a conference call at 8:00 AM Eastern Time.
  • A webcast of the earnings call may also be accessed via Bright Health’s Investor Relations page at investors.brighthealthgroup.com .
  • The company suggests participants for the conference call dial in at least 15 minutes in advance of the call.
  • A recording of the earnings call and presentation will be available on Bright Health’s Investor Relations page following the call.

Bright Health Group Continues to Make Significant Progress Towards ACA Insurance Business Wind-Down

Retrieved on: 
Tuesday, September 19, 2023
Professional Services, Health, Health Technology, Insurance, Health Insurance, Managed Care, CMS, Fullerton Health Group, Centers for Medicare & Medicaid Services, Bright Health, BHG, Second, Sale, Medicare, ACA, Risk, Associate, New Enterprise Associates, NYSE, Health insurance

Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced it continues to make progress on the wind-down of its ACA insurance business.

Key Points: 
  • Bright Health Group, Inc. (“Bright Health” or the “Company”) (NYSE: BHG), the technology enabled, value-driven healthcare company, today announced it continues to make progress on the wind-down of its ACA insurance business.
  • The Company has made significant progress paying down its medical claims obligations and is on track with prior forecasts.
  • Bright Health’s final risk adjustment obligations across its ACA insurance business markets were consistent with expectations at year-end 2022 and the end of the Second Quarter 2023.
  • As of today, Bright Health has paid $1.5 billion to the Centers for Medicare & Medicaid Services (“CMS”), which represents 80% of its final ACA insurance business risk adjustment obligations.

New Clarivate Trends Data Shows California, New York, Texas, and Illinois Experiencing Largest Medicaid Growth

Retrieved on: 
Thursday, August 17, 2023
Insurance, Commercialization, Clarivate, CLVT, Health, Health care, Bright Health, Ageing, MMS, Intelligence, Pharmacy, Movement, Organization, Oscar Health, Patient, UnitedHealth Group, Growth, Government, NYSE, Health insurance, Medicaid, COVID-19, Cigna, Medicare

LONDON, Aug. 17, 2023 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a global leader in connecting people and organizations to intelligence they can trust to transform their world, today released findings from its bi-annual Managed Market Surveyor™ (MMS) health plan enrollment trend analysis. Medicaid enrollment peaked with an increase of nearly 4 million beneficiaries in the six months leading up to January 2023, but with the rollback of expansion policies under Covid, a downward shift in enrollment for the rest of this year is anticipated. The MMS health plan enrollment trends data shows multiple U.S. regions are experiencing insurance exchange growth and disruption driven by exits from insurers with substantial market share and entries into new geographies by national insurers.

Key Points: 
  • The MMS health plan enrollment trends data shows multiple U.S. regions are experiencing insurance exchange growth and disruption driven by exits from insurers with substantial market share and entries into new geographies by national insurers.
  • Increases in Medicaid and Medicare beneficiaries are providing growth opportunities for managed care plans contracted with government agencies.
  • In addition, movement by insurers leaving and entering the rapidly growing individual exchange markets is driving significant disruption.
  • In the commercial enrollment sector, the exit of recent entrants to the market indicates the strength of established national insurers.

Bright Health Group Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 9, 2023
Managed Care, Hospitals, Health Insurance, Health, Uncertainty, Regulation Fair Disclosure, Bright Health, Disclosure, GAAP, Movement, Form, Depreciation, Adjustment, Regulation

For full year 2023, Bright Health is providing the following guidance and commentary:

Key Points: 
  • For full year 2023, Bright Health is providing the following guidance and commentary:
    Bright Health is revising its 2023 financial outlook to reflect the movement of our California Medicare Advantage business to Held for Sale accounting.
  • As previously announced, Bright Health Group will discuss the Company’s results, strategy, and outlook on a conference call with investors at 8:00 a.m. Eastern Time today.
  • Bright Health Group will host a live webcast of this conference call which can be accessed from the Investor Relations page of the company’s website (investors.brighthealthgroup.com).
  • This earnings release and the Form 8-K filed August 9, 2023 can be accessed on the Investor Relations page of the Company’s website.

Bright Health Group Secures Financing to Support Operations Pending the Expected Close of California Medicare Advantage Business Sale

Retrieved on: 
Monday, August 7, 2023
Professional Services, Health, Insurance, Health Insurance, Finance, Managed Care, Partnership, Fullerton Health Group, Audit committee, BHG, Second, Sale, Simpson Thacher & Bartlett, NEA, New York Stock Exchange, New Enterprise Associates, NYSE, Security (finance), Bright Health

Bright Health is also announcing that it has entered into a permanent waiver of default on its existing credit facility, which expires in February 2024.

Key Points: 
  • Bright Health is also announcing that it has entered into a permanent waiver of default on its existing credit facility, which expires in February 2024.
  • Mike Mikan, President and CEO of Bright Health, said, “We are excited to have the continued support of NEA, and all of our partners, as we continue to transform our business into one of the leading value-driven healthcare companies.”
    The financing is expected to support the working capital needs of the company pending the closing of the California Medicare Advantage Business sale to Molina Healthcare, Inc.
  • Bright Health is scheduled to report Second Quarter 2023 earnings on August 9th and will provide details on quarterly and year-to-date performance on that date.
  • Moelis & Company LLC is serving as Bright Health’s financial advisor and Simpson Thacher & Bartlett LLP is serving as Bright Health’s legal advisor in connection with this process.