NeueHealth, Inc.

your telephone keypad. To withdraw your question, please press Start followed by 2. And with that, I'll hand over to Emily Lombardi. Please go ahead when you are ready.

Good morning, and welcome to New Health's first quarter 2024 earnings conference call. As a reminder, this call is being recorded. Leading the call today are New Health's President and CEO, Mike Mikan, and CFO, Jay Matuszak. Before we begin, we want to remind you that this call may contain forward-looking statements under US federal securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations. A description of some of the risks and uncertainties can be found in the reports that we file with the Securities and Exchange Commission. including the risk factors in our current and periodic reports we file with the SEC. Except as required by law, we undertake no obligation to revise or update any forward-looking statements or information. This call will also reference non-GAAP amounts and measures. A reconciliation of the non-GAAP to GAAP measures is available in the company's first quarter earnings release available on the company's investor relations page at investors.newhealth.com. Information presented on this call is contained in such earnings release that we issued this morning in our form 8K dated May 8, 2024, and in the related presentation, each of which may be accessed from the investor relations page of the company's website. With that, I will now turn the conference over to NewHealth Chief Executive Officer Mike Mikan.

Good morning, everyone, and thank you for joining New Health's first quarter 2024 earnings call. We are pleased to report strong first quarter results for New Health, driven by continued momentum in both our new care and new solutions business segments. In 2024, we are focused on driving long-term sustainable growth of our value-driven, consumer-centric care model as we align interests to create a better healthcare experience for all. We believe our model is built for the future of healthcare. It represents a strong alternative to traditional approaches, which rely on broad provider networks with limited care coordination and lack of focus on the consumer. Our model is grounded in the power of longstanding trusted relationships in local communities, not one time episodic encounters. This means we are focused on deeply understanding the consumers we serve. proactively managing care on an ongoing basis, and fostering strong partnerships with providers and payers to create a seamless, more coordinated care experience. Our relationship-based approach gives us confidence in our ability to take on greater risk sharing in the future as we continue to build upon our knowledge of the populations we manage and the local communities we serve. Through our differentiated model, we are serving a diverse population base, including consumers across the ACA marketplace, Medicare, and Medicaid, which is a large and growing addressable market. Our ability to drive differentiated results across product categories allows us to capture opportunities with payers and providers throughout the industry while limiting concentration risk. Our model continues to resonate with our partners the broader marketplace leading the strong consumer engagement and satisfaction for example this past year there were approximately 745 000 aca marketplace consumers in the miami-dade market and we observed approximately 40 of them this is significant and allows us to understand the unique needs of each consumer deliver better health outcomes and effectively manage the total cost of care in addition we continue to receive high consumer satisfaction scores. For instance, in our Florida market, we have an NPS score of 84, as well as a 4.8 star Google rating. Overall, our value driven consumer centric care model is attracting and retaining consumers and leading to long standing partnerships with providers and payers across the industry. In the first quarter, we delivered enterprise adjusted EBITDA of $2.5 million. This puts us in a strong position to continue to advance our care model and value-based capabilities this year. This morning, I'll provide a brief update on our new care and new solution segments. Then I'll turn it over to Jay to review our financial performance in more detail. New care delivered strong results to start the year. driving segment-adjusted EBITDA of $13.6 million for the first quarter. Starting in 2024, we expanded our operations in Central Florida to serve approximately 41,000 additional ACA marketplace consumers. We completed this expansion in a capital-efficient manner, leveraging existing relationships to expand our footprint and the consumers we serve across our owned and affiliated clinics. This expansion demonstrates the value we are driving for our payer partners and the trusted relationships we have built, especially in managing the ACA marketplace population in performance-based arrangements. We have had a strong presence in Florida for more than 20 years through our Centrum Health, Associates MD, and Premier Medical Associates clinics. And we look forward to continuing to grow our presence across the state as we bring a better healthcare experience to more local communities. We continually evaluate strategic opportunities to expand our value-based footprint, not only in Florida, but throughout the country. And we believe we have a strong pipeline in place for the remainder of 2024, 2025, and beyond. In our clinics, we are taking a holistic and comprehensive approach to care that starts with engagement. This helps us to guide our consumers to the right point of care provide personalized and tailored treatment plans, follow up on progress, and maintain ongoing trusted relationships throughout the entire healthcare journey. With a strong focus on proactive engagement, we seek to drive improved results for all consumers, no matter their need or circumstance, and deliver a healthcare experience that is affordable, convenient, and coordinated. In our new solution segment, we continue to advance our provider enablement business, including our suite of population health tools and capabilities, as well as our ACO reach business in the first quarter. As you may recall, on our fourth quarter earnings call, we announced that we secured new partnerships with provider groups that increase the lives we are serving in our provider enablement business. In the first quarter, we served approximately 109,000 consumers starting the year off on a strong note. We continue to see this business as a key driver of future growth opportunities, specifically in our new care segment, leading to new provider and payer partnerships and opportunities to serve additional consumers in diverse product categories through our own and affiliated clinics. Looking at our first quarter 2024 ACO reach results, we are performing in line with our expectations. This year, we have a carefully selected group of high-performing provider partners, and we are confident in our ability to deliver strong performance and improved margins in the program. We are working closely with our provider partners on care management and patient engagement initiatives focused on delivering consumer-centric care, preventing avoidable readmissions, optimizing site of service, and proactively identifying high-risk and rising risk beneficiaries. We will maintain tight collaboration with our provider partners as we continue to deliver high quality, personalized care to the Medicare beneficiaries we manage. I'll now hand it over to Jay to provide additional details on our first quarter financial results.