NeueHealth reports Q4 and full year 2023 results

NeueHealth, Inc. reported financial results for its fourth quarter and full year ended December 31, 2023.

“We achieved significant milestones as a company this past year, completing the sale of our California Medicare Advantage business and fully focusing on where we have proven to have the greatest impact – through our care delivery and provider enablement business,” said Mike Mikan, President and CEO of NeueHealth. “Our NeueHealth business drove strong results in 2023, delivering $1.2 billion in revenue, up 55% year over year, and serving 461,000 consumers across the country. We have great confidence in this business and the value-driven, consumer-centric care model we have built, and we look forward to continuing to align the interests of providers, payors, and consumers to drive differentiated value for all in 2024.”

Key metrics

See the table at the end of this release for additional information and a reconciliation of the non-GAAP measures used in the table above. Full Year 2023 Net Loss from Continuing Operations of $(627,742) includes $(515,791) related to non-cash items. See table at the end of this release for more detail.

Financial outlook
For full year 2024, NeueHealth is providing the following guidance and commentary:

• NeueHealth’s Enterprise Revenue is expected to be approximately $1 billion
• On a segment basis, NeueCare Revenue is expected to be between $310 million and $320 million, while NeueSolutions Revenue is expected to be between $690 million and $700 million
• Enterprise Adjusted Operating Cost Ratio is expected to be between 15% and 16%
• Enterprise Adjusted EBITDA is expected to be between $15 million and $25 million in 2024

MB Bureau