Evolent Health, Inc.
evolent.comWhat Do They Do?
Provides care-management services for complex conditions and health plan administration to health plans and other payers, supporting physicians and other healthcare providers.
10-K for FY2025, filed Feb 25, 2026Evolent is a market leader in connecting care for people with complex conditions like cancer, cardiovascular disease, and musculoskeletal…View ↗
The foundation for our specialty care management services solution was our acquisition in 2018 of New Century Health, a national leader in…View ↗
Our comprehensive health plan administration services help regional and national payers and providers assemble the infrastructure required…View ↗
How Do They Make Money?
Most partners pay a monthly fee based on the number of members managed, sometimes as a share of premiums; some payments depend on service results or shared savings, and some services are billed per case.
10-K for FY2025, filed Feb 25, 2026
$1.9B
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10-K for FY2025, filed Feb 25, 2026
$1.9B ↗
Who Are Their Customers?
Health plans and other payers, health systems, and providers contract with Evolent for care-management and administrative services. Its sales team works with partner leaders and subject-matter experts to identify additional services.
10-K for FY2025, filed Feb 25, 2026With experience across Medicare, Medicaid and commercial markets, our depth and variety of expertise allows us to serve a variety of…View ↗
We market and sell our services to payers and providers throughout the United States. Our sales team works closely with our leadership team…View ↗
Our contracts governing the relationships with our partners include key terms which may include the period of performance, revenue rates…View ↗
Do Revenues Turn Into Profits?
No. It lost $534.5M in FY2025.
10-K for FY2025, filed Feb 25, 2026
How Are They Changing?
Growing. Revenue grew 2.1x in 4 years, from $908M in FY2021 to $1.9B in FY2025, about 20% a year.
Physician total-cost-of-care offering
The earlier business description included Evolent Care Partners, which offered physicians access to the company's payer contracting vehicles and operating model. The company later sold Evolent Care Partners.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 25, 2026Our total cost of care management solution enables providers to manage populations they may be accountable for under value-based contracts…View ↗
During the third quarter, the Company entered into a Stock Purchase Agreement (the “ECP Purchase Agreement”) pursuant to which the Company…View ↗
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