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agilon health, inc. (NYSE: AGL) is a transformative health care partner dedicated to redefining primary care by enabling physicians with the tools, technology, and support needed to deliver high-quality care. agilon health forms strategic long-term partnerships with physician groups to transition them to a value-based care model, aiming to improve patient outcomes while reducing costs. The company operates a purpose-built platform that supports over 3,000 primary care physicians (PCPs) across more than 30 communities, providing care to over 700,000 senior patients.
agilon health’s core business revolves around empowering physicians to create a Medicare-centric, globally capitated line of business. The company derives its revenue from providing medical services under full-risk contracts, which aligns financial incentives with patient health outcomes. agilon health has demonstrated significant growth, achieving a 75% increase in revenue to $1.22 billion, with Medicare Advantage membership surging by 58% to 420,300 members.
The company's recent achievements include the publication of a peer-reviewed study on its value-based palliative care program, showcasing improved patient-centered outcomes. Additionally, agilon health has successfully expanded its Physician Network with new partnerships in Kentucky, Minnesota, Illinois, and North Carolina, further solidifying its presence in the U.S. healthcare market.
Financially, agilon health has shown resilience and adaptability. Despite challenges, the company has maintained strong revenue growth and continues to make progress in executing its targeted action plans to drive profitability and enhance operational efficiency. agilon health’s balance sheet reflects a solid financial position, with significant cash reserves and manageable debt levels, positioning the company for sustained growth and long-term success.
agilon health stands out in the healthcare sector by focusing on a value-based care model that prioritizes patient health over service volume. This approach not only benefits patients but also supports physicians in maintaining their independence and achieving better health outcomes for their patients.
agilon health (NYSE: AGL) announced significant achievements in its ACO REACH model for 2023. The company's eight Accountable Care Organizations (ACOs) generated $150 million in gross savings (13% gross savings rate), including $37 million in Medicare Trust Fund savings. Operating under full risk for approximately 90,000 Traditional Medicare beneficiaries, the ACOs achieved an impressive 95% average quality score, with four ACOs reaching 100%. Five ACOs earned High Performers Pool status, securing an additional $7 million bonus. Since 2021, agilon's REACH ACOs have accumulated $281 million in gross savings, with $71 million benefiting the Medicare Trust Fund.
agilon health reported Q3 2024 results with revenue increasing 28% to $1.45 billion. Medicare Advantage membership grew 37% to 525,000, while total platform members increased 39% to 657,000. The quarter was impacted by challenges including $60 million in prior year development costs, $65 million reduction in 2024 risk adjustment, and $25 million in higher medical expenses. The company reported a gross profit loss of $64 million and a net loss of $118 million. In response, agilon plans to exit two unprofitable partnerships and certain payor contracts by end of 2024. The company updated its full-year 2024 guidance, reflecting Q3 results and revised Q4 cost trends.
agilon health (NYSE: AGL) has announced its participation in the 2024 Wolfe Research Healthcare Conference. The company will deliver a fireside chat presentation on Tuesday, November 19, at 2:20 PM Eastern Time.
Interested parties can access a live webcast of the event through the 'Events & Presentations' section of agilon's Investor Relations website. On-demand replay of the conference will be made available shortly after the completion of each call.
agilon health (NYSE: AGL), a company focused on transforming healthcare through physician empowerment, has announced the date for its third quarter 2024 financial results release. The results will be disclosed after market close on Thursday, November 7, 2024, followed by a conference call at 4:30 PM Eastern Time on the same day.
Interested parties can join the conference call by dialing (833) 470-1428 (U.S. participants) or +1 (404) 975-4839 (international participants) and using the participant code 520026. A simultaneous webcast will be available on the company's Investor Relations website. For those unable to attend live, a replay of the call will be accessible via webcast shortly after its conclusion.
agilon health (NYSE: AGL), a company focused on empowering physicians to transform community healthcare, has announced its participation in the 2024 Wells Fargo Healthcare Conference. The event will feature a fireside chat presentation by agilon health on Wednesday, September 4, at 3:00 PM Eastern Time.
Interested parties can access a live webcast of the presentation through the 'Events & Presentations' section of agilon's Investor Relations website. For those unable to attend the live event, a replay will be made available for on-demand viewing shortly after the presentation concludes.
This participation in a major healthcare conference underscores agilon health's commitment to engaging with investors and industry professionals, potentially providing insights into the company's strategies and outlook in the evolving healthcare landscape.
agilon health (NYSE: AGL) reported Q2 2024 results with revenue increasing 39% to $1.5 billion and Medicare Advantage membership growing 38% to 513,000. Total members on the agilon platform reached 645,000, up 40%. The company maintained its 2024 Medical Margin and Adjusted EBITDA guidance despite retroactive membership adjustments due to contract terminations. Key financials include:
- Gross profit: $32 million (down from $55 million in Q2 2023)
- Net loss: $31 million (increased from $17 million in Q2 2023)
- Medical margin: $106 million (down from $134 million in Q2 2023)
- Adjusted EBITDA: $3 million loss (compared to $12 million earnings in Q2 2023)
agilon is making progress on its performance action plan, focusing on refining payor relationships, increasing PCP engagement, improving data visibility, and accelerating operating efficiency.
agilon health (NYSE: AGL), a company focused on empowering physicians to transform healthcare, has announced its plans to release second quarter 2024 financial results. The results will be disclosed after the market closes on Tuesday, August 6, 2024, followed by a conference call at 4:30 PM Eastern Time to discuss the outcomes. Interested parties can access the call via phone or webcast, with details provided for both U.S. and international participants. A replay of the call will be made available on the company's Investor Relations website for on-demand listening after the event concludes.
agilon health announced the appointment of Karthik Rao, M.D., as its permanent Chief Medical Officer (CMO), effective immediately. Dr. Rao has been serving as interim CMO since February 2024 and was previously senior medical director and vice president of network performance at agilon. With nearly a decade of experience as a practicing internal medicine physician, Dr. Rao will co-lead clinical strategy and oversee clinical programs alongside Chief Clinical Officer Kevin Spencer, M.D., who brings over 25 years of experience in value-based care. Both will report to CEO Steve Sell and aim to enhance provider performance across agilon's Physician Network.
agilon health (NYSE: AGL) has appointed Jeff Schwaneke as its new Chief Financial Officer (CFO) and Executive Vice President, effective July 1, 2024. Schwaneke, who brings over 27 years of finance and operational experience, will transition from his current role as Executive Vice President at Centene He will succeed Timothy Bensley, who is retiring but will assist during the transition. Schwaneke will step down from agilon’s board, where he has served since 2022. His extensive background includes significant roles at Centene, where he contributed to revenue growth from $20 billion to $125 billion. Schwaneke holds a Bachelor's degree in Accounting from the University of Missouri and is a CPA (inactive).
agilon health (NYSE: AGL) will participate in the 44th Annual William Blair Growth Stock Conference with a presentation scheduled on June 5 at 12:20 PM Eastern Time. Interested parties can access a live webcast via the “Events & Presentations” section of agilon’s Investor Relations website, with a replay available for on-demand listening after the event.
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