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Segments
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting Segments
The Company determined its operating segments in accordance with ASC 280, “Segment Reporting” (“ASC 280”). The Company currently has three reportable segments consisting of: 1) Care Partners; 2) Care Delivery; and 3) Care Enablement (See Note 1 – Description of Business). The Company’s reportable segments changed from one to three in the first quarter of 2023 as a result of certain changes to the information regularly provided to the Company’s chief operating decision maker when reviewing the Company’s performance as well as an effort to provide additional transparency to investors and other financial statement users which the Company believes will assist in the evaluation of changes in the operating results of the Company’s segments separate from non-operational factors that affect net income, thus providing insight into both operations and other factors impacting reported results.
The Company evaluates the performance of its operating segments based on segment revenue growth as well as operating income. Management uses revenue growth and total segment operating income as a measure of the performance of operating businesses separate from non-operating factors. The Company’s operations are based in the United States. All revenues of the Company are derived from the United States. The Company’s segments are not evaluated using asset information.
The Company’s Care Partners segment is focused on building and managing high-quality and high-performance provider networks by partnering with, empowering, and investing in strong provider partners with a shared vision for coordinated care delivery. Under relevant accounting guidance, while the Company’s Care Partners – IPAs and Care Partners – ACO are two operating segments, they share similar economic characteristics and meet other criteria, which permits the Company to aggregate them into a single reportable segment, which the Company has done. Revenue for this segment is primarily comprised of capitation and risk pool settlements and incentives.
The Company’s Care Delivery segment is a patient-centric, data-driven care delivery organization focused on delivering high-quality and accessible care to all patients. The care delivery organization includes primary care, multi-specialty care, and ancillary care services. Revenue is primarily earned based on fee-for-service reimbursements, capitation, and performance-based incentives.
The Company’s Care Enablement segment is an integrated, end-to-end clinical and administrative platform powered by the Company’s proprietary technology suite, which provides operational, clinical, financial, technology, management, and strategic services to enable success in the delivering of high-quality, value-based care for providers and payers. Revenue for this segment is primarily comprised of management and software fees, charged as a percentage of gross revenue or on a per-member-per-month basis.
Other is not a reportable segment and primarily consists of real estate operations and other entities that are individually immaterial. Revenue is primarily comprised of equipment sales and real estate revenue is presented in other income.
In the normal course of business, the Company’s reportable segments enter into transactions with each other. While intersegment transactions are treated like third-party transactions to determine segment performance, the revenues recognized by a segment and expenses incurred by the counterparty are eliminated in consolidation and do not affect consolidated results.
Corporate costs are unallocated and primarily include corporate initiatives, corporate infrastructure costs and corporate shared costs, such as finance, human resources, legal, and executives.
The following table presents information about our segments and prior periods have been recast to conform to the current presentation (in thousands):
Year Ended December 31, 2023
Care Partners
Care Delivery
Care Enablement
OtherIntersegment EliminationCorporate CostsConsolidated Total
Third Party$1,284,081 $61,600 $40,227 $753 $— $— $1,386,661 
Intersegment16,031 58,304 95,597 184 (170,116)— — 
Total revenues1,300,112 119,904 135,824 937 (170,116)— 1,386,661 
Cost of services1,182,484 96,265 59,075 296 (166,417)— 1,171,703 
General and administrative(1)
25,907 17,766 57,672 3,752 (7,923)33,171 130,345 
Total expenses1,208,391 114,031 116,747 4,048 (174,340)33,171 1,302,048 
Income (loss) from operations$91,721 $5,873 $19,077 $(3,111)$4,224 
(2)
$(33,171)$84,613 
Year Ended December 31, 2022
Care Partners
Care Delivery
Care Enablement
OtherIntersegment EliminationCorporate CostsConsolidated Total
Third Party$1,051,464 $49,806 $42,023 $870 $— $— $1,144,163 
Intersegment57 46,326 78,177 115 (124,675)— — 
Total revenues1,051,521 96,132 120,200 985 (124,675)— 1,144,163 
Cost of services944,792 73,927 51,531 258 (125,823)— 944,685 
General and administrative(1)
21,507 13,234 41,628 2,681 (3,150)19,313 95,213 
Total expenses966,299 87,161 93,159 2,939 (128,973)19,313 1,039,898 
Income (loss) from operations$85,222 $8,971 $27,041 $(1,954)$4,298 
(2)
$(19,313)$104,265 
Year Ended December 31, 2021
Care Partners
Care Delivery
Care Enablement
OtherIntersegment EliminationCorporate CostsConsolidated Total
Third Party$709,714 $28,064 $35,851 $286 $— $— $773,915 
Intersegment— 18,627 71,842 74 (90,543)— — 
Total revenues709,714 46,691 107,693 360 (90,543)— 773,915 
Cost of services607,081 37,537 41,557 (242)(89,791)— 596,142 
General and administrative(1)
30,055 9,694 28,637 1,881 (3,097)12,424 79,594 
Total expenses637,136 47,231 70,194 1,639 (92,888)12,424 675,736 
Income (loss) from operations$72,578 $(540)$37,499 $(1,279)$2,345 
(2)
$(12,424)$98,179 
(1) Balance includes general and administrative expenses and depreciation and amortization.
(2) Income from operations for the intersegment elimination represents rental income from segments renting from other segments. Rental income is presented within other income which is not presented in the table.