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SEGMENTS AND GEOGRAPHIC INFORMATION
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
SEGMENTS AND GEOGRAPHIC INFORMATION SEGMENTS AND GEOGRAPHIC INFORMATION
Factors used to determine our reportable segments include the nature of operating activities, economic characteristics, existence of separate senior management teams and the type of information used by the Company’s chief operating decision maker (“CODM”) to evaluate its results of operations. We have identified three operating segments based on our primary product and service offerings: Bright HealthCare – Commercial, Medicare Advantage and NeueHealth.

We have historically aggregated our Bright HealthCare – Commercial and Medicare Advantage operating segments into a single Bright HealthCare reportable segment. In the three months ended September 30, 2022, we determined it was no longer appropriate to aggregate our Bright HealthCare – Commercial and Medicare Advantage operating segments, as the planned exit
of the Commercial business for the 2023 plan year results in a significant difference in our long-term revenue and cash flow projections for the operating segments.

Our three reportable segments are Bright HealthCare – Commercial, Medicare Advantage and NeueHealth. The following is a description of the types of products and services from which our three reportable segments derive their revenues:

Bright HealthCare – Commercial: Our Commercial healthcare financing and distribution business focused on commercial plans delivers simple, personal, and affordable solutions to integrate the consumer into Bright Health’s alignment model. Bright HealthCare – Commercial serves approximately 1.0 million individuals through commercial health plan offerings across 16 states as of September 30, 2022.

Medicare Advantage: Our Medicare Advantage healthcare financing and distribution business focused on serving aging and underserved populations with unmet clinical needs through a Fully-Aligned Care Model. As of September 30, 2022, Medicare Advantage includes MA products in 6 states, which serve over 125,000 lives and generally focus on higher risk, special needs, or other traditionally underserved populations.

NeueHealth: Our healthcare enablement and technology business, NeueHealth, aims to significantly reduce the friction and current lack of coordination between payors by delivering on our Fully-Aligned Care Model with multiple payors. NeueHealth delivers virtual and in-person clinical care through its approximately 75 owned primary care clinics within an integrated care delivery system. Through these risk-bearing clinics and our affiliated network of care providers, NeueHealth maintains over 571,000 unique patient relationships as of September 30, 2022, approximately 520,000 of which are served through value-based arrangements, across multiple payors. NeueHealth receives network rental fees from Bright HealthCare for the delivery of NeueHealth’s Care Partner and network services. In addition, NeueHealth contracts directly with Bright HealthCare to provide care through its managed and affiliated clinics. Other NeueHealth customers include external payors, third party administrators, affiliated providers and direct-to-government programs.

The Company’s accounting policies for reportable segment operations are consistent with those described in Note 2, Summary of Significant Accounting Policies, in our 2021 Form 10-K. Transactions between reportable segments principally consist of care management and local care delivery provided by NeueHealth to Bright HealthCare. We utilize operating income (loss) before income taxes as the profitability metric for our reportable segments.

The following tables present the reportable segment financial information for the three and nine months ended September 30, 2022 and 2021 (in thousands):
Three Months Ended September 30, 2022Bright HealthCare - CommercialMedicare AdvantageNeueHealthCorporate & EliminationsConsolidated
Premium revenue$976,530 $408,939 $77,542 $— $1,463,011 
Direct contracting revenue— — 145,433 — 145,433 
Service revenue38 — 12,079 — 12,117 
Investment income6,849 36 4,846 — 11,731 
Total unaffiliated revenue983,417 408,975 239,900 — 1,632,292 
Affiliated revenue— — 262,129 (262,129)— 
Total segment revenue983,417 408,975 502,029 (262,129)1,632,292 
Operating income (loss)(79,289)(71,276)(37,547)(64,583)(252,695)
Goodwill impairment$4,148 $70,017 $— $— $74,165 
Intangible assets impairment— — 42,611 — 42,611 
Depreciation and amortization— 4,416 6,913 2,575 13,904 
Three Months Ended September 30, 2021Bright HealthCare - CommercialMedicare AdvantageNeueHealthCorporate & EliminationsConsolidated
Premium revenue$625,987 $368,599 $25,647 $— $1,020,233 
Direct contracting revenue— — — — — 
Service revenue(61)— 11,140 — 11,079 
Investment income1,058 29 46,258 — 47,345 
Total unaffiliated revenue626,984 368,628 83,045 — 1,078,657 
Affiliated revenue— 139,759 (139,759)— 
Total segment revenue626,984 368,628 222,804 (139,759)1,078,657 
Operating income (loss)(228,648)(30,989)11,312 (47,956)(296,281)
Depreciation and amortization$145 $3,781 $9,563 $716 $14,205 
Nine Months Ended September 30, 2022Bright HealthCare - CommercialMedicare AdvantageNeueHealthCorporate & EliminationsConsolidated
Premium revenue$3,084,958 $1,258,846 $236,986 $— $4,580,790 
Direct contracting revenue— — 465,435 — 465,435 
Service revenue108 — 37,282 — 37,390 
Investment income13,103 83 (52,306)— (39,120)
Total unaffiliated revenue3,098,169 1,258,929 687,397 — 5,044,495 
Affiliated revenue— — 857,716 (857,716)— 
Total segment revenue3,098,169 1,258,929 1,545,113 (857,716)5,044,495 
Operating income (loss)(260,483)(109,893)(105,981)(201,405)(677,762)
Goodwill impairment$4,148 $70,017 $— $— $74,165 
Intangible assets impairment6,720 — 42,611 — 49,331 
Depreciation and amortization145 13,291 20,572 6,165 40,173 
Nine Months Ended September 30, 2021Bright HealthCare - CommercialMedicare AdvantageNeueHealthCorporate & EliminationsConsolidated
Premium revenue$1,930,896 $929,374 $62,680 $— $2,922,950 
Direct contracting revenue— — — — — 
Service revenue29 — 31,573 — 31,602 
Investment income3,386 105 109,012 — 112,503 
Total unaffiliated revenue1,934,311 929,479 203,265 — 3,067,055 
Affiliated revenue— — 182,392 (182,392)— 
Total segment revenue1,934,311 929,479 385,657 (182,392)3,067,055 
Operating income (loss)(214,039)(105,351)74,111 (132,880)(378,159)
Depreciation and amortization$290 $9,903 $14,362 $1,426 $25,981 
As a percentage of our total consolidated revenue, premium revenues and Direct Contracting revenues from CMS were 34% and 34% for the three months ended September 30, 2022 and 2021, respectively. For the nine months ended September 30, 2022 and 2021 premium revenues and Direct Contracting revenues from CMS were 34% and 30%, respectively. The revenues from CMS are included in premium revenue of our Bright HealthCare – Commercial and Medicare Advantage segments and
Direct Contracting revenue of our NeueHealth segment. For all periods presented, all of our long-lived assets were located in the United States, and all revenues were earned in the United States. We do not include asset information by reportable segment in the reporting provided to the CODM.