Agilon Health Inc ( (AGL) ) has released its Q3 earnings. Here is a breakdown of the information Agilon Health Inc presented to its investors.
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Agilon Health Inc., a key player in the healthcare sector, partners with physicians to implement a value-based Total Care Model aimed at improving healthcare delivery for senior patients. The company recently released its third-quarter 2024 earnings report, highlighting significant revenue growth and membership expansion despite facing challenges in medical expenses and risk adjustments. Agilon Health reported a 28% increase in revenue, reaching $1.45 billion, and a substantial 37% growth in Medicare Advantage membership to 525,000. However, the company faced a net loss of $118 million, largely due to increased medical expenses and adjustments related to risk factors. The strategic decision to exit two unprofitable partnerships and other payor contracts is aimed at countering the challenging Medicare Advantage environment and strengthening the company’s financial standing. Looking forward, Agilon Health is focused on aligning its operations to improve its financial trajectory into 2025, while continuing to support its network of physician partners in delivering quality healthcare.
