Astrana Health, Inc. Files 2023 Annual Report on Form 10-K

Ticker: ASTH · Form: 10-K · Filed: Feb 29, 2024 · CIK: 1083446

Astrana Health, INC. 10-K Filing Summary
FieldDetail
CompanyAstrana Health, INC. (ASTH)
Form Type10-K
Filed DateFeb 29, 2024
Risk Level
Pages14
Reading Time17 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: Astrana Health, 10-K, Annual Report, Financials, SEC Filing

TL;DR

<b>Astrana Health, Inc. has filed its annual report for the fiscal year ending December 31, 2023.</b>

AI Summary

Astrana Health, Inc. (ASTH) filed a Annual Report (10-K) with the SEC on February 29, 2024. Astrana Health, Inc. (formerly Apollo Medical Holdings, Inc.) filed its 2023 Form 10-K on February 29, 2024. The company's fiscal year ends on December 31st. Astrana Health is incorporated in Delaware. The company's principal business address is in Alhambra, California. The filing covers the fiscal year ending December 31, 2023.

Why It Matters

For investors and stakeholders tracking Astrana Health, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Astrana Health's financial performance, operational activities, and risk factors for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks and opportunities.

Risk Assessment

Risk Level: — Astrana Health, Inc. shows moderate risk based on this filing. The risk level is assessed as low because the filing is a standard annual report (10-K) and does not contain immediate, significant negative disclosures. However, a full risk assessment would require detailed analysis of the report's content.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K filing to understand Astrana Health's performance and outlook.

Key Numbers

Key Players & Entities

FAQ

When did Astrana Health, Inc. file this 10-K?

Astrana Health, Inc. filed this Annual Report (10-K) with the SEC on February 29, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Astrana Health, Inc. (ASTH).

Where can I read the original 10-K filing from Astrana Health, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Astrana Health, Inc..

What are the key takeaways from Astrana Health, Inc.'s 10-K?

Astrana Health, Inc. filed this 10-K on February 29, 2024. Key takeaways: Astrana Health, Inc. (formerly Apollo Medical Holdings, Inc.) filed its 2023 Form 10-K on February 29, 2024.. The company's fiscal year ends on December 31st.. Astrana Health is incorporated in Delaware..

Is Astrana Health, Inc. a risky investment based on this filing?

Based on this 10-K, Astrana Health, Inc. presents a moderate-risk profile. The risk level is assessed as low because the filing is a standard annual report (10-K) and does not contain immediate, significant negative disclosures. However, a full risk assessment would require detailed analysis of the report's content.

What should investors do after reading Astrana Health, Inc.'s 10-K?

Review the detailed financial statements and risk factors within the 10-K filing to understand Astrana Health's performance and outlook. The overall sentiment from this filing is neutral.

How does Astrana Health, Inc. compare to its industry peers?

Astrana Health operates within the healthcare services sector, likely focusing on managed care, physician services, or related healthcare management.

Are there regulatory concerns for Astrana Health, Inc.?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and operations.

Industry Context

Astrana Health operates within the healthcare services sector, likely focusing on managed care, physician services, or related healthcare management.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business, financial condition, and operations.

What Investors Should Do

  1. Analyze the company's revenue streams and growth trends for fiscal year 2023.
  2. Examine any disclosed risk factors that could impact future performance.
  3. Review management's discussion and analysis (MD&A) for insights into strategic initiatives and outlook.

Year-Over-Year Comparison

This is the initial 10-K filing for Astrana Health, Inc. under its current name and structure for the fiscal year 2023. Previous filings were under the name Apollo Medical Holdings, Inc.

Filing Stats: 4,306 words · 17 min read · ~14 pages · Grade level 17.8 · Accepted 2024-02-29 16:50:50

Key Financial Figures

Filing Documents

Business

Business 6 ITEM 1A

Risk Factors

Risk Factors 22 ITEM 1B Unresolved Staff Comments 47 I TEM 1C C yber security 47 ITEM 2

Properties

Properties 48 ITEM 3

Legal Proceedings

Legal Proceedings 48 ITEM 4 Mine Safety Disclosures 48 PART II 49 ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 49 ITEM 6 [Reserved] 51 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 51 ITEM 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 72 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 73 ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 135 ITEM 9A

Controls and Procedures

Controls and Procedures 135 ITEM 9B Other Information 138 ITEM 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 138 PART III 139 ITEM 10 Directors, Executive Officers and Corporate Governance 139 ITEM 11

Executive Compensation

Executive Compensation 139 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 139 ITEM 13 Certain Relationships and Related Transactions, and Director Independence 139 ITEM 14 Principal Accounting Fees and Services 139 PART IV 140 ITEM 15 Exhibits and Financial Statement Schedules 140 ITEM 16 Form 10-K Summary 147 2 Glossary The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below: AAMG All-American Medical Group ACO REACH ACO Realizing Equity, Access, and Community Health AHMC AHMC Healthcare Inc. AHM Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.) AIPBP All-Inclusive Population-Based Payments APAACO APA ACO, Inc. APC Allied Physicians of California, a Professional Medical Corporation APC-LSMA APC-LSMA Designated Shareholder Medical Corporation Astrana Medical Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation) Astrana Care Partners Medical Astrana Care Partners Medical Corporation (f/k/a AP - AMH 2 Medical Corporation) CAIPA MSO CAIPA MSO, LLC CMS Centers for Medicare & Medicaid Services DMHC California Department of Managed Health Care DMG Diagnostic Medical Group of Southern California GPDC Global and Professional Direct Contracting HSMSO Health Source MSO Inc., a California corporation IPA Independent Practice Association Jade Jade Health Care Medical Group, Inc. LMA LaSalle Medical Associates NGACO Next Generation Accountable Care Organization PMIOC Pacific Medical Imaging and Oncology Center, Inc. Sun Labs Sun Clinical Labs VIE Variable Interest Entity 3 INTRODUCTORY NOTE Unless the context dictates otherwise, references in this Annual Report on Form 10-K to the "Company," "we," "us," "our," and similar words are references to Astrana Health, Inc., a Delaware corporation ("Astrana"), and its consolidated subsidiaries and affiliated entities, as appropriate, including its con

Business

Item 1. Business Overview On February 26, 2024, Apollo Medical Holdings, Inc. rebranded as Astrana Health, Inc. Astrana is a leading provider-centric, technology-powered, risk-bearing healthcare company. Leveraging its proprietary end-to-end technology solutions, Astrana operates an integrated healthcare delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver accessible, high-quality care to patients in a cost-effective manner. We, together with our affiliated physician groups and consolidated entities, provide coordinated outcomes-based medical care serving patients in California, Nevada, and Texas, the majority of whom are covered by private or public insurance provided through Medicare, Medicaid, and health maintenance organizations ("HMOs"), with a small portion of our revenue coming from non-insured patients. We provide care coordination services to each major constituent of the healthcare delivery system, including patients, families, primary care physicians, specialists, acute care hospitals, alternative sites of inpatient care, physician groups, and health plans. Our physician network consists of primary care physicians, specialist physicians, physician and specialist extenders, and hospitalists. Astrana's common stock is listed on The Nasdaq Stock Market LLC ("Nasdaq") and trades under the symbol "ASTH". Led by a management team with several decades of experience, we have built a company and culture that is focused on physicians providing high-quality medical care, population health management, and care coordination for patients. Through our integrated health network, with more than 10,000 contracted physicians, we are responsible for coordinating value-based care for approximately 0.9 million patients as of December 31, 2023. As a result, we believe we are well-positioned to take advantage of the shift in the U.S. healthcare industry toward providing value-based and results-o

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