Apollo Medical Holdings, Inc. (NASDAQ:AMEH) Q4 2022 Earnings Call Transcript

Jack Senft: And then one last quick question that I have. So when it comes to payer concentration, we saw a solid increase in Medicare in 2022 compared to that of 2021, jumped from like about 40% to 55%. And then kind of as a result, looks like Medicaid also dropped as well. Longer term, do you guys have any expectations on where payer mix shakes out, assuming more Medicare lives provides just that much more incremental revenue? So just kind of curious if you have any longer-term expectations when it comes to this and kind of where payer mix eventually will shake out.

Chan Basho: I can go.

Brandon Sim: Yes.

Chan Basho: I do see payer mix very much flattening out. And with redetermination, it could also be the continued growth of the Medicaid and commercial segments.

Brandon Sim: Yes. I think Medicaid may dip slightly as a result of redetermination, as Chan mentioned. We don’t anticipate Medicare or commercial to continue going forever. As we mentioned earlier, we are proud to serve all Americans regardless of insurance status, and that’s a core part of our model and our commitment to serve our communities. So there will be a plateauing at some point. But probably for this year, I would expect probably a greater percentage of Medicare similar to the increase you saw last year, Jack.

Jack Senft: Again, congrats on the strong year.

Chan Basho: Thank you.

Brandon Sim: Thanks so much.

Operator: We have reached the end of our question-and-answer session. I would like to turn the conference back over to management for closing comments.

Brandon Sim: Yes. Thank you. Thank you all for your time today. We are always open to dialogue with investors and welcome visitors to our offices in Alhambra, should any of you be in the Los Angeles area. Please feel free to reach out to us or our Investor Relations firm, The Equity Group, with any additional questions you may ask. We look forward to speaking to you all again on our next quarterly call or before. Thank you.

Operator: Thank you. This does conclude today’s conference. You may disconnect your lines at this time, and thank you for your participation.