P3 Health Partners Inc
ir.p3hp.orgWhat Do They Do?
Provides health plans with care management for Medicare Advantage members, delivered through community physicians, care teams and clinics.
10-K for FY2024, filed Mar 26, 2026As fellow healthcare professionals, we understand the challenges physicians face when providing VBC. We have leveraged that expertise to…View ↗
In MA, the Centers for Medicare & Medicaid Services (“CMS”) pays health plans a monthly sum per member to manage all health expenses of a…View ↗
Collaborative and supportive partnerships. As members of our team are former physicians, we have a deep understanding of the way in which…View ↗
How Do They Make Money?
-
10-K for FY2024, filed Mar 26, 2026
FY2024 revenue by product or service ↗
$1.5B
-
10-K for FY2024, filed Mar 26, 2026
$1.5B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Capitated Revenue
|
98%
FY2021: 99%
|
Capitated Revenue, FY2024
$1.4B Sources
|
|
Health Care Clinical Fees Insurance Revenue
|
0.2%
FY2021: 0.6%
|
Health Care Clinical Fees Insurance Revenue, FY2024
$3.1M Sources
|
|
Health Care Coordination Management Fees
|
0.7%
FY2021: 0.8%
|
Health Care Coordination Management Fees, FY2024
$10.8M Sources
|
|
Health Care Incentive Fees
|
1.1%
FY2021: <0.1%
|
Health Care Incentive Fees, FY2024
$16.2M Sources
|
Who Are Their Customers?
Health plans contract directly with P3 to manage Medicare Advantage members; P3 also contracts directly with local physician groups and independent physicians to join its care network.
10-K for FY2024, filed Mar 26, 2026
Do Revenues Turn Into Profits?
No. It lost $147.9M in FY2024.
10-K for FY2024, filed Mar 26, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
$7.4MView ↗
- ▲ Now profitable
- vs −$20.4M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
Adds accountable care organization services
The earlier report says its platform focused exclusively on Medicare Advantage; the latest adds management and administrative services for accountable care organizations, including provider management, data analytics and financial support.
10-K for FY2021, filed Oct 21, 2022 10-K for FY2024, filed Mar 26, 2026In Medicare Advantage, the Centers for Medicare & Medicaid Services (“CMS”) pays health plans a monthly sum per member to manage all health…View ↗
Who Do They Compete With?
Competes with Aledade, Astrana Health, and agilon health
10-K for FY2024, filed Mar 26, 2026The healthcare industry is highly competitive and fragmented. Our primary competition remains the status quo, FFS environment that much of…View ↗
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