P3 Health Partners NASDAQ PIIII<\/p>\n<\/div>\n
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P3 Health Partners Inc. (\u201cP3\u201d) to Make September Presentations at Two Major Industry Conferences, Strong Second Quarter Performance for NASDAQ Listed : PIII<\/i><\/p>\n
P3 Health Partners, Inc (NASDAQ:PIII)<\/p>\n
\u2014 Dr. Sherif Abdou, CEO of PIII.<\/p>\n<\/div>\n
HENDERSON, NEVADA, UNITED STATES, September 6, 2023\/EINPresswire.com<\/a>\/ — P3 Health Partners Inc. (\u201cP3\u201d) to Make September Presentations at Two Major Industry Conferences, Strong Second Quarter Performance for NASDAQ Listed Healthcare Company Focused on Helping Patients and Providers (NASDAQ: PIII)<\/a><\/p>\n Health Management Network of Over 2,600 Affiliated Primary Care Providers Across the USA. <\/p>\n Currently Serving Over 100,000 Patients in 18 Counties Across Five States.<\/p>\n PIII Care Team Creates an Enhanced Patient Experience by Navigating, Coordinating and Integrating Care within the Healthcare System. <\/p>\n September Presentations at Wells Fargo Healthcare Conference in Boston, MA and Lake Street Best Ideas Growth Conference in New York, NY. <\/p>\n Second Quarter Financial Results Showed Improvement Across All Key Metrics.<\/p>\n Capitated Revenue of $325.6 Million, an Increase of 21.9% Compared to $267.1 Million in Q2 of the Prior Year. <\/p>\n Adjusted EBITDA of $0.2 Million, Compared to an Adjusted EBITDA Loss of $28.7 Million in the Q2 of the Prior Year. <\/p>\n Gross Profit of $26.8 Million, an Improvement of $24.8 Million Compared to $2.0 Million in the Q2 of the Prior Year. <\/p>\n P3 Health Partners Inc. (NASDAQ: PIII)<\/a> is a leading population health management company committed to transforming healthcare by improving the lives of both patients and providers. Founded and led by physicians, PIII has an expansive network of more than 2,600 affiliated primary care providers across the country. PIII local teams of health care professionals manage the care of thousands of patients in 18 counties across five states. <\/p>\n PIII supports primary care providers with value-based care coordination and administrative services that improve patient outcomes and lower costs. Through partnerships with these local providers, the PIII care team creates an enhanced patient experience by navigating, coordinating, and integrating the patient\u2019s care within the healthcare system. <\/p>\n PIII has announced that it will participate at the upcoming Wells Fargo Healthcare Conference in Boston, Massachusetts. PIII Management will give a presentation on Thursday, September 7th, 2023, at 4:30 PM Eastern Time. A webcast of the live event will be available on the PIII Investor Relations website at ir.p3hp.org. A replay will be available shortly after the live event.<\/p>\n PIII will also participate in the Lake Street Best Ideas Growth Conference in New York, New York on Thursday, September 14th, 2023.<\/p>\n PIII Announces Second-Quarter 2023 Results<\/p>\n On August 7th PIII announced its financial results for the second quarter ended June 30, 2023.<\/p>\n \u201cThe results for the second quarter of 2023 show the power and trajectory of the P3 model. I\u2019m delighted to say we had solid improvement across all key metrics. The strength we have seen in 2023 has given us the stability and momentum to drive our next phase of success in 2024, and beyond,\u201d said Dr. Sherif Abdou, CEO of PIII.<\/p>\n \u201cWe experienced approximately 1% medical cost trend for the quarter. That is a reflection of the effectiveness of P3\u2019s model and the increasing maturity of the membership on P3\u2019s platform. The value we deliver and demand for P3\u2019s model is rooted in our ability to bend the cost curve for our patients, providers, and payor clients,\u201d said Bill Bettermann, COO of P3.<\/p>\n Q2 Financial Results<\/p>\n Capitated revenue was $325.6 million, an increase of 21.9% compared to $267.1 million in the second quarter of the prior year<\/p>\n Net loss was $27.6 million, compared to a net loss of $903.1 million in the second quarter of the prior year. The second quarter of 2022 was negatively impacted by a goodwill impairment charge of $851.5 million<\/p>\n Net loss PMPM was $88 compared to a net loss PMPM of $2,995 the second quarter of the prior year<\/p>\n Adjusted EBITDA(1) was $0.2 million, compared to an Adjusted EBITDA loss of $28.7 million in the second quarter of the prior year<\/p>\n Adjusted EBITDA PMPM(1) was roughly break even, compared to an Adjusted EBITDA loss PMPM of $95 in the second quarter of the prior year<\/p>\n Gross profit was $26.8 million, an improvement of $24.8 million compared to $2.0 million in the second quarter of the prior year<\/p>\n Gross profit PMPM was $86, an improvement of $79 compared to $7 in the prior year<\/p>\n Medical margin(1) was $50.5 million, an increase of 132.1% compared to $21.8 million in the second quarter of the prior year<\/p>\n Medical margin PMPM(1) was $161, an increase of 123.2% compared to a medical margin PMPM of $72 in the prior year<\/p>\n First-Half 2023 Financial Results<\/p>\n Capitated revenue was $624.3 million, an increase of 16.3% compared to $536.8 million in the first half of the prior year<\/p>\n Net loss was $80.0 million, compared to a net loss of $963.9 million in the first half of the prior year. The first half of 2022 was negatively impacted by a goodwill impairment charge of $851.5 million<\/p>\n Net loss PMPM was $129 compared to a net loss PMPM of $1,613 in the first half of the prior year<\/p>\n Adjusted EBITDA(1) loss was $18.9 million, compared to an Adjusted EBITDA loss of $47.6 million in the first half of the prior year<\/p>\n Adjusted EBITDA PMPM(1) loss was $30, compared to an Adjusted EBITDA loss of $80 PMPM in the first half of the prior year<\/p>\n Gross profit was $43.3 million, an improvement of 345% compared to $9.7 million in the first half of the prior year<\/p>\n Gross profit PMPM was $70, an increase of 329% compared to $16 in the first half of the prior year<\/p>\n Medical margin(1) was $89.7 million, an increase of 92.6% compared to $46.6 million in the first half of the prior year<\/p>\n Medical margin PMPM(1) was $145, an increase of 85.9% compared to a medical margin PMPM of $78 in the prior year <\/p>\n PIII management also conducted a conference call on August 7th. An archived recording of the webcast will be available on the Investor page of the PIII website for a period of 90 days following the conference call at this link: ir.p3hp.org.<\/p>\n For more detailed explanations of the above financial results review the PIII company filings at: https:\/\/www.otcmarkets.com\/stock\/PIII\/disclosure<\/a><\/p>\n For more information on $PIII visit www.p3hp.org<\/a> and follow PIII on @p3healthpartners and Facebook.com\/p3healthpartners.<\/p>\n DISCLAIMER: CAP\/FrontPageStocks\/CorporateAds.com (CA) is a third-party publisher and news dissemination service provider. CAP\/FPS\/CA is NOT affiliated in any manner with any company mentioned herein. CAP\/FPS\/CA is a news dissemination solutions provider and is NOT a registered broker\/dealer\/analyst\/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. <\/p>\n CAP\/FPS\/CA\u2019s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release or opinion of the writer. CAP\/FPS\/ CA is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. CAP\/FPS\/CA has been compensated $500 by a third party for dissemination of this article.<\/p>\n SOURCE: CorporateAds.com<\/p>\n Dr. Sherif Abdou, CEO P3 Health Partner NASDAQ: PIII<\/p>\n \n
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