Welcome to our dedicated page for Evolent Health news (Ticker: EVH), a resource for investors and traders seeking the latest updates and insights on Evolent Health stock.
Evolent Health, Inc. (NYSE: EVH) plays a pivotal role in the healthcare sector by supporting health systems and physician organizations in their transition to value-based care and population health management. Headquartered in Arlington, Virginia, Evolent is backed by major entities such as The Advisory Board Company, University of Pittsburgh Medical Center Health Plan, and TPG Growth. The company’s core business revolves around providing integrated specialty care management services, total cost of care management, and health plan administration through an all-inclusive platform.
Evolent specializes in managing complex conditions in fields such as oncology, cardiology, and musculoskeletal markets, aiming to simplify healthcare and make it more affordable. The company's recent achievements include exceeding profitability expectations in the third quarter of 2023, adding new operating partnerships, and enhancing its financial outlook for the year. Evolent reported robust financial health with $184.5 million in cash and cash equivalents as of September 30, 2023.
The company’s culture is centered around collaboration, innovation, and a supportive work environment. Benefits like treadmill desks, healthy snacks, and wellness challenges underscore its commitment to employee well-being.
Notably, Evolent is also venturing into AI-driven healthcare solutions, as evidenced by its recent agreement to acquire Machinify Auth, a software platform that enhances clinical quality through advanced AI. This acquisition is expected to significantly improve the speed and efficiency of clinical reviews for various conditions.
In summary, Evolent Health continues to be a significant player in the healthcare industry, driving better health outcomes and financial performance through innovative solutions.
Evolent Health is launching a Covid-19 vaccine video education program in partnership with various Black community leaders at Quinn Chapel AME in Chicago. This initiative aims to reach up to 1 million Black and Latinx congregants over Easter weekend, addressing vaccine myths and encouraging vaccinations. The program will feature personal stories from faith leaders and will be shared across 500 faith communities. Evolent has a history of supporting local health initiatives and aims to bridge care gaps exacerbated by the pandemic.
Evolent Health (NYSE: EVH) reported 40% growth in the population served by its Evolent Care Partners network compared to 2020. Key drivers include new partnerships, regional expansion in Texas, and growth with existing partners. The network now consists of ~500 primary care physicians, a 30% increase from last year, managing approximately 90,000 lives under Medicare Advantage and Commercial plans, equating to about $900M in premium equivalent. The company emphasizes its innovative technology and clinical programs that improve care coordination and cost management, even during the pandemic.
Evolent Health reported a 15.0% increase in GAAP revenue for Q4 2020, totaling $271.9 million, and a 20.8% increase for the full year, reaching $1.02 billion. The company posted a net loss of $(14.6) million for Q4 and $(334.2) million for the year. Adjusted EBITDA improved to $16.1 million for Q4 and $41.4 million for the year. Strategic growth was evident with new partnerships, such as with Blue Cross Blue Shield of Texas, bolstering their market position. Evolent aims for continued momentum in 2021, focusing on capital allocation and operational efficiencies.
Evolent Health (NYSE: EVH) announced that CEO Seth Blackley and CFO John Johnson will participate in the Cowen 41st Annual Health Care Conference. Their virtual presentation is scheduled for March 3, 2021, at 3:20 p.m. ET. A live audio webcast will be available on Evolent's investor relations site. Evolent Health focuses on delivering clinical and administrative solutions to enhance whole-person health. The company is recognized for its innovative cost management and has received the NCQA Population Health Program Accreditation.
Evolent Health (NYSE: EVH) will announce its fourth quarter and full year 2020 operating results on February 25, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time, where shareholders and participants can dial in to listen. The company offers clinical and administrative solutions to improve health care efficiency. Evolent has received the National Committee for Quality Assurance's Population Health Program Accreditation and is recognized as a leading workplace in health care.
Evolent Health (NYSE: EVH) announced the appointment of Kim A. Keck to its Board of Directors, effective immediately. Keck, with over 30 years of health care experience, replaces retiring board member Bruce Felt. As President and CEO of the Blue Cross Blue Shield Association, she brings valuable insights to Evolent during a critical growth phase. The company also named Cheryl Scott as Lead Independent Director. Evolent aims to enhance its clinical and administrative solutions while maximizing shareholder value.
Evolent Health (NYSE: EVH) has announced a definitive agreement with Bright HealthCare to acquire True Health New Mexico, a wholly-owned subsidiary of Evolent. The transaction, expected to close in the first half of 2021, aims to enhance Evolent's operational framework, while continuing to provide health plan support to True Health New Mexico. Evolent's CEO, Seth Blackley, highlighted the focus on creating shareholder value through organic revenue growth and margin expansion. Current employees of True Health New Mexico will join Bright HealthCare, ensuring continuity in market operations.
Evolent Health (NYSE: EVH) announced a Cooperation Agreement with Engaged Capital, appointing Craig Barbarosh to its Board of Directors as a Class III director. A Strategy Committee will be created to enhance operational efficiency and financial performance. Evolent also plans to amend its Charter to declassify the Board, allowing directors to stand for one-year terms post-2021 Annual Meeting. Engaged Capital emphasizes its commitment to maximizing shareholder value. This move aims to strengthen governance and strategic direction for Evolent's future.
Evolent Health (NYSE: EVH) announced participation in the 39th Annual J.P. Morgan Healthcare Conference on January 13, 2021. CEO Seth Blackley and CFO John Johnson will present virtually at 9:10 a.m. ET. A live audio-only webcast will be accessible via Evolent's investor relations page.
Evolent Health provides clinical and administrative solutions that enhance health care efficiency and affordability, serving leading payers and providers nationwide. The company has received national recognition for its population health programs and work environment.
Evolent Health, a leading health care solutions provider, announced that CEO Seth Blackley and CFO John Johnson will participate in 1x1 meetings at the 32nd Annual Piper Sandler Healthcare Conference on December 2, 2020. Meetings can be arranged through Piper Sandler. Evolent focuses on improving health care affordability and delivery with a range of services, including total cost of care management. The company has received national recognition for its innovative approach and workplace environment.
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