Yahoo Finance Bright Health Group, Inc. (NYSE:BHG) Q3 2023 Earnings Call Transcript
Bright Health Group, Inc. (NYSE:BHG) Q3 2023 Earnings Call Transcript November 7, 2023
Operator: Hello, all, and welcome to Bright Health Group's third quarter 2023 earnings call. My name is Lydia, and I will be your operator today. It's my pleasure to now hand you over to your host, Stephen Hagan, Investor Relations Director to begin. Please go ahead when you're ready.
Stephen Hagan: Good morning and welcome to Bright Health Group's third quarter 2023 earnings conference call. As a reminder, this call is being recorded. Leading the call today are Bright Health Group's President and CEO, Mike Mikan; and CFO, Jay Matushak. Before we begin, I want to remind you that this call may contain forward-looking statements under US federal securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations. A description of some of the risks and uncertainties can be found in the reports that we file with the Securities and Exchange Commission, including the risk factors in our current and periodic reports we file with the SEC.
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Except as required by law, we undertake no obligation to revise or update any forward-looking statements or information. This call will also reference non-GAAP amounts and measures. A reconciliation of the non-GAAP to GAAP measures is available in the company's third quarter press release filed on the company's Investor Relations page at investors.brighthealthgroup.com. Information presented on this call is contained in the earnings release we issued this morning and in our Form 8-K dated November 7, 2023, which may be accessed from the Investor Relations page of the company's website. While we continue to work through the necessary regulatory approvals and other closing conditions for the sale of our California Medicare Advantage business, we are not going to be conducting a Q&A session on this call.
With that, I will now turn the conference over to Bright Health Group's Chief Executive Officer, Mike Mikan.
Mike Mikan: Thank you, Stephen, and good morning, everyone. In the third quarter, we continued to make significant progress across our key initiatives. Importantly, the consumer care business are continuing operations performed well in the third quarter with our second consecutive quarter of adjusted EBITDA profitability. We have focused the company on our value driven consumer care business, new health, where we are serving consumers through a differentiated integrated care model. We are aligned with our payer and provider partners clinically and financially to improve the quality and cost of care in both our care delivery and care solutions segments. We believe we are well positioned for the future of health care as the industry continues to shift to value-based care.
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