Bright Health Group, Inc. (NYSE:BHG) Q4 2022 Earnings Call Transcript

Mike Mikan: We expect a pretty comparable — we performed well in the first year in conjunction with our partners, our alliance physician partners, but as well in our own clinics. So — and we believe that next year, in 2023, we’ll perform equal to that. So, we’re — and we think around the 98% loss ratio or so is our expectation for 2020 — it was for 2022 actuals and we believe it’s the expectation for 2023.

Nathan Rich: Okay. Great. And for the operating expense improvement in that bridge, both on the Consumer Care front as well as corporate, I think, Cathy, you mentioned that those ranges reflect actions that have already been taken. I just wanted to confirm that just in terms of the level of visibility that we have in terms of realization of those savings as the year plays out.

Cathy Smith: Yes. So, as I said, exactly that. We noted in October and then subsequently in January that we’ve taken a significant amount of actions to structure the business for the go-forward business. And so, the vast majority of those actions have been taken. So, what you’re seeing is the run rate impact of that coming into this year.

Mike Mikan: And we’re seeing the run rate through — on a year-to-date basis, we’re seeing that come through.

Cathy Smith: Yes.

Nathan Rich: Great. Thank you.

Mike Mikan: Thank you.

Operator: Thank you. We have no further questions for today. So that concludes today’s conference call. Thank you all for joining. You may now disconnect your lines.