XML 32 R20.htm IDEA: XBRL DOCUMENT v3.23.1
SEGMENTS AND GEOGRAPHIC INFORMATION
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
SEGMENTS AND GEOGRAPHIC INFORMATION SEGMENTS AND GEOGRAPHIC INFORMATION
Factors used to determine our reportable segments include the nature of operating activities, economic characteristics, existence of separate senior management teams and the type of information used by the Company’s chief operating decision maker (“CODM”) to evaluate its results of operations. We have identified three operating segments based on our primary product and service offerings: Bright HealthCare and Consumer Care, within our continuing operations and Bright HealthCare – Commercial within our discontinued operations.

Our two reportable segments are Bright HealthCare and Consumer Care. The following is a description of the types of products and services from which the two reportable segments of our continuing operations derive their revenues:

Bright HealthCare: Our delegated senior managed care business that partners with a tight group of aligned providers in California. Our healthcare financing and distribution business focused on serving aging and underserved populations with unmet clinical needs through a Fully-Aligned Care Model. As of March 31, 2023, Bright HealthCare provides MA products in California which serve over 123,000 lives and generally focus on higher risk, special needs, or other traditionally underserved populations.

Consumer Care: Our value-driven care delivery business that manages risk in partnership with external payors, Consumer Care, aims to significantly reduce the friction and current lack of coordination between payors by delivering on our Fully-
Aligned Care Model with multiple payors. Our Consumer Care business delivers virtual and in-person clinical care through its 72 owned primary care clinics within an integrated care delivery system. Through these risk-bearing clinics and our affiliated network of care providers, Consumer Care maintains over 410,000 unique patient relationships as of March 31, 2023, approximately 373,000 of which are served through value-based arrangements, across multiple payors. Consumer Care customers include external payors, third party administrators, affiliated providers and direct-to-government programs.

The Company’s accounting policies for reportable segment operations are consistent with those described in Note 2, Summary of Significant Accounting Policies, in our 2022 Form 10-K. We utilize operating income (loss) before income taxes as the profitability metric for our reportable segments.

The following tables present the reportable segment financial information for the three months ended March 31, 2023 and 2022 (in thousands):
Three Months Ended March 31, 2023Bright HealthCareConsumer CareCorporate & EliminationsConsolidated
Premium revenue$453,370 $49,548 $— $502,918 
ACO REACH revenue— 239,807 — 239,807 
Service revenue— 13,570 — 13,570 
Investment income46 — — 46 
Total segment revenue453,416 302,925 — 756,341 
Operating income (loss)(31,433)4,433 (58,746)(85,746)
Depreciation and amortization$4,408 $3,132 $2,351 $9,891 
Restructuring charges60 (41)3,338 3,357 
Three Months Ended March 31, 2022Bright HealthCareConsumer CareCorporate & EliminationsConsolidated
Premium revenue$430,313 $28,649 $— $458,962 
ACO REACH revenue— 182,797 — 182,797 
Service revenue— 12,392 — 12,392 
Investment income80 (40,968)— (40,888)
Affiliated revenue— 368,053 (368,053)— 
Total segment revenue430,393 550,923 (368,053)613,263 
Operating income (loss)(31,383)(70,054)(58,426)(159,863)
Depreciation and amortization$4,459 $7,002 $1,436 $12,897 
Restructuring charges$— $— $6,864 $6,864 
For all periods presented, all of our long-lived assets were located in the United States, and all revenues were earned in the United States. We do not include asset information by reportable segment in the reporting provided to the CODM.