Signify Health Investor Conference Presentation Deck

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Healthcare

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September 2021

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#1signifyhealth. Wells Fargo Virtual Healthcare Conference September 9, 2021 -> Homeward.#2→> Forward Looking Statements -> This presentation contains forward-looking statements. All statements other than statements of historical fact included in this presentation are forward-looking statements. These statements may be preceded by, followed by or include the words "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business, our plan to drive better patient outcomes, our 2021 Outlook, including our 2021 estimates for total GAAP revenue, total Adjusted EBITDA, in-home evaluations, program size and weighted average savings rate improvements, our ability to continue to gain traction in our Transition to Home solution, the ability of our Transition to Home solution to positively impact savings rates in both the BPCI-A program and on non-BPCI-A episodes, and our plan to utilize the proceeds from our IPO to expand our investment in value-based payment programs and in our product portfolio. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include: the COVID-19 pandemic and whether the pandemic will continue to subside in 2021; our dependence upon a limited number of key customers; our dependence on certain key government programs; our failure to maintain and grow our network of high-quality providers; our failure to continue to innovate and provide services that are useful to customers and achieve and maintain market acceptance; our limited operating history with certain of our solutions; our failure to compete effectively; the length and unpredictability of our sales cycle; failure of our existing customers to continue or renew their contracts with us; failure of service providers to meet its obligations to us; seasonality that may cause fluctuations in our sales, cash flows and results of operations; our failure to achieve or maintain profitability; our revenue not growing at the rates they historically have, or at all; our failure to successfully execute on our growth initiatives, business strategies, or operating plans, including growth in our Commercial Episodes business; our failure to successfully launch new products; our failure to diversify sources of revenues and earnings; inaccurate estimates and assumptions used to determine the size of our total addressable market; changes in accounting principles applicable to us; incorrect estimates or judgments relating to our critical accounting policies; increases in our level of indebtedness; our failure to effectively adapt to changes in the healthcare industry, including changes in the rules governing Medicare or other federal healthcare programs; our failure to adhere to complex and evolving governmental laws and regulations; our failure to comply with current and future federal and state privacy, security and data protection laws, regulations or standards; our employment of and contractual relationships with our providers subjecting us to licensing or other regulatory risks, including recharacterization of our contracted providers as employees; adverse findings from inspections, reviews, audits and investigations from health plans; inadequate investment in or maintenance of our operating platform and other information technology and business systems; our ability to develop and/or enhance information technology systems and platforms to meet our changing customer needs; higher than expected investments in our business including, but not limited to, investments in our technology and operating platform, which could reduce our profitability; security breaches or incidents, loss or misuse of data, a failure in or breach of our operational or security systems or other disruptions; disruptions in our disaster recovery systems or management continuity planning; our ability to comply with, and changes to, laws, regulations and standards relating to privacy or data protection; our ability to obtain, maintain, protect and enforce our intellectual property; our dependence on distributions from Cure TopCo, LLC, our operating subsidiary, to fund dividend payments, if any, and to pay our taxes and expenses, including payments under the Tax Receivable Agreement; the control certain equity holders have over us and our status as a controlled company; our ability to realize any benefit from our organizational structure; risks associated with acquiring other businesses including our ability to effectively integrate the operations and technologies of the acquired business; risks associated with an increase in our indebtedness; and the other risk factors described under "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which are available free of charge on the SEC's website at: www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the date of this presentation. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws. This presentation contains certain financial measures not presented in accordance with generally accepted accounting principles in the United State ("GAAP"), including Adjusted EBITDA, which is used by management in making operating decisions, allocating financial resources, and internal planning and forecasting and for business strategy purposes. Adjusted EBITDA is not a measure of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing our financial results. Therefore, this measure should not be considered in isolation or as an alternative to GAAP measures. Our presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies. Management believes that such measures are commonly reported by issuers and widely used by investors as indicators of a company's operating performance. There are other non-GAAP financial measures which should be considered only as a supplement to, and not as a superior measure to, financial measures prepared in accordance with GAAP. Please refer to the Appendix of this document for a reconciliation of Adjusted EBITDA to the most directly comparable financial measure prepared in accordance with GAAP. This presentation includes market and industry data and forecasts that we have derived from independent consultant reports, publicly available information, various industry publications, other published industry sources, and our internal data and estimates. Independent consultant reports, industry publications, and other published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. The inclusion of market estimations, rankings, and industry data in this presentation is based upon such reports, publications, and other sources and our internal data and estimates and our understanding of industry conditions. Although we believe that such information is reliable, we have not had this information verified by any independent sources. You are cautioned not to give undue weight to such estimates. All trademarks, service marks, and trade names appearing in this presentation are the property of their respective holders. signifyhealth. IN#3-> ● ● ● signifyhealth. National leader in value-based care Human-centered approach addresses individuals' total clinical, social and behavioral needs Proven results through cost and quality improvements, better consumer and provider experience Premiere customer base of payors and providers with significant opportunities to cross- sell and expand Large and growing markets • Driving health care signifyhealth - > Homeward. Our mission Transform how care is paid for and delivered so that people can enjoy more healthy, happy days at home Signify Platform Our vision To build a healthier place for us all to live and age in 3#4--> "Homeward": what it means for Signify Helping individuals stay healthy & independent at home Home & Community Services DO www In-home evaluation services signifyhealth. 1.4M Activating the home as a key part of the care continuum in-home evaluations (¹) 7 Diagnostic & preventative services Healthy days at home Clinical & social care coordination Manage individuals in an episode and drive recovery home Episodes of Care Services Episodes of care services $5.2 B ~15% episodes program size (¹) more discharges home (2) Fueling double-digit growth with strong margins and cash flow 1) For the year ended 2020. 2) Results represent At Risk episodes in BPCI Advanced initiated during 2020Q3 compared to the historical performance of similar episodes. Performance period statistics are based on BPCI Advanced claims provided by CMS in February 2021 VALUE-BASED CARE PLATFORM DRIVING OUTCOMES 2 Post-acute mgmt. services >10% reduced readmissions (2) 4#5-> Business synergies enable Transition to Home services === + === Episodes of Care Management Acute Care signifyhealth. Inpatient Rehab Facility 10000 Skilled Nursing Facility 100 Home & Community Services Bx Holistic care management reduces readmission ~600 clinical & social care coordinators -200 community-based organizations PCP/Specialist follow up 9,000+ clinician network Readmissions cost Medicare ~$17 billion annually 5#6The Signify platform combines analytics, networks, and --> technology to power and create value-based arrangements * signifyhealth Data Capture & Analytical Insights Networks Driving Holistic Care Technology- Enabled Actions 1) As of, or for the year ended 12/31/2020 signifyhealth. Algorithms powering insights on >35M members in our data chassis (1) Decision support pathways >9,000 physicians & nurses deployable to all 50 states 200m community-based organizations Network Enablement Smart applications Device hub Logistics & routing Savings opportunity analyses Consumer Engagement Segmentation Outreach Coordination ...... 3,000 (¹) value-based provider sites >600(¹) clinical & social care coordinators Episodes of Care Programs Optimization Pricing & payment. Sharing in risk Prevention of adverse events Holistic condition management Aligned payment incentives Healthy days at home 6#7-> Our platform creates a flywheel effect driving improvement and growth within value-based programs. ■ ■ ■ I I Extensive capture beyond traditional data sets into the home and community Real-time data from providers, payors, and CMS Reduce unnecessary facility time More healthy days at home Better consumer experience Shared program savings signifyhealth. Appropriate payment for risk assumed 1 Capture Data Improve Outcomes 4 2 Generate Insights Deliver Actions 3 ■ ■ Risk stratification and predictive modeling Targeted consumer engagement Site-of-care optimization Incentive alignment Access and coordination across care continuum: ambulatory, acute, post-acute and the home Holistic care model: clinical, social, and behavioral 7#8Extending our leading platform into novel value-based arrangements. →> and growing participation by new healthcare constituents. Program Enablement Long-standing experience as a leading enablement platform for programs driving value-based payment innovation Supporting value-based programs In-Home Evaluations, Clinical & Social Care Coordination signifyhealth. Partnering in value-based programs Health plans in Medicare Advantage and Managed Medicaid Humana. aetna CENTENE OPTUM™™ Corporation CAMBIA OAK STREET HEALTH RETIEN EVEN IN Episode Bundled Payments Program Creation Leveraging our established infrastructure to launch novel program arrangements in commercial market Designing value-based programs Health system and provider group partner network in BPCI and BPCI-A Ascension UHS Advent Health Geisinger Beaumont Trinity Health Intermountain Healthcare Expanded Program Innovation in Commercial Market Novel commercial episode programs for payors & employers, covering procedural and chronic conditions 16 STATE OF JUSTINES CONTROLLER CAMBIA HEALTH SOLUTIONS superior healthplan 8#9-> Client case study: how Signify's integrated solutions drive outcomes in value-based episode programs 2018 2019 2020 signifyhealth. partnered with Signify In-Home Evaluations (IHE) Tenured relationship as top strategic growth partner ● In-Home Diagnostic Services Add-on of peripheral artery disease (PAD) & ancillary testing ● CAMBIA HEALTH COLUTIONE IHE+ ● ● Deepening our engagement in the home with social care coordination Commercial Episodes Expanded partnership to launch novel episode-based arrangements, now live with providers in the region Harriet (illustrative patient journey) Health plan's Medicare Advantage member 71 yrs with complex comorbid illness; needs hip surgery from a recent fall Comprehensive understanding of Harriet and her conditions via IHE and device hub Assess and coordinate holistic care for Harriet to recover and stay healthy at home Engage Harriet and perform actions to prevent an adverse acute event Pre-Acute Transition to Home ‒‒‒‒‒I ASC Prevent costly inpatient rehab or skilled nursing facility stay in post acute by transitioning her home Acute Prevent inpatient admission and divert Harriet to a lower cost ambulatory surgical center for her procedure IRF / SNF 9#10-> Leading nationwide scale with ability to send clinicians into every county and state across the U.S. Networks >9,000 (¹) mobile providers 200 (¹) community sites. 500 (1) health systems & provider groups 2,400 (¹) post acute facilities >600 (1) engagement, social & clinical care coordinators Actions signifyhealth. 1.4M (1) in-home evaluations ~1M (2) cumulative episodes managed -390K (1) members assisted with SDOH services 1) Full year 2020 2) As of the nine months ended 9/30/2020 Data & Insights ~50M (1) episode data transactions per month ~100M (1) map API calls routing providers to homes >35M (1) members in our database Hospitals & Provider Groups Community Sites Home Health Agencies Mobile Clinicians. Skilled Nursing Facilities 10#11Compelling growth path and strong financial performance signifyhealth. 11#12--> Our addressable market is supported by strong tailwinds Enrollment in Addressable Programs Value-Based Spend Signify Estimated IHE's Conducted In 2020 79 million (1) Members Enrolled in Medicare Advantage and Medicaid Managed Care signifyhealth 1.4 Million $400 billion (²) Spend Under Value-based Care in Government and Private / Commercial Lines of Business 1) Reflects 2020 Medicare Advantage enrollment per CMS and 2018 Medicaid Managed care enrollment per Medicaid.gov 2) Health Care Payment Learning & Action Network 2018 Alternative Payment Model (APM) Report -$142 billion (²) Spend Under Value-based Care Alternative Payment Models with Downside Risk $5.2 billion Signify Episode Spend Under Management in 2020 60-70% of healthcare payments expected to be tied to value- based care by 2025 12#13->Compelling revenue model (illustrative examples) Helping individuals stay healthy & independent at home Home & Community Services Based on per member evaluated (or other preventative action performed) Often performed during evaluation signifyhealth. # of evaluations # of diagnostic add-on services completed # of biopharma assessments # of IHE+ (social care coordination) engaged X X X X per per per Healthy days at home per M HCS revenue Manage individuals in an episode and drive recovery home Episodes of Care Services Based on generation of cost savings with partners 2.0% To provider 2.0% To Signify 8.5% 3.0% Gross savings rate To payor 1.5% Admin fee to Signify Į % Savings Spend under rate management Episode revenue 13#14Deep and diversified anchor customer base with attractive --> growth levers Payors Health systems & provider groups signifyhealth. New entrants Humana. OPTUM™ aetna Anthem. HIGHMARK. CAMBIA HEALTH SOLUTIONS OAK STREET Oscar HEALTH BAPTIST HEALTH EmblemHealth Corporation SENTARA" Advent Health √ UHS Geisinger Trinity Health Pharma Ill Bristol Myers Squibb & NOVARTIS Priority Health Regence MEMORIA Ascension of Tennessee ST. JOSEPH Regional Medical Center parexel juno THERAPEUTICS WellCare Independence HCSC ORLANDO HEALTH Sinai Health System Intermountain Healthcare OF Employers CONN STATE C Beaumont ERNETO Blue Cross Blue Shield Blue Care Network of Michigan FRANS TUL COMPTROLLER Multiple levers for growth Headroom to deepen wallet share Ability to improve program performance X Cross-sell of new services and VBC programs New customers 14#15->The "network effect" as we stack value-based programs As we recruit and "light up" provider participants for one payor's program... Engagement of more individuals each year in the home unlocks access... Payor 1 "Anchor" Payor 2 1) As of 12/31/2020 Signify Platform signifyhealth Activated provider network nodes: - Ambulatory facilities Acute facilities Post acute sites Community organizations OR Performance benefits CA WA NV new programs "stacked" in the same region benefit from network nodes already activated in our platform UT AZ MT WY NM CO a ● >9,000 (¹) MDs & NPs mobilized nationwide Speed to value 1.4M (1) unique in- home visits in 2020 Ba Solda laa Canula de Zaragoce Marylan Maryland Improved efficiencies District of ... to cross-sell and stack new programs and preventative services, while more optimally utilizing network resources Rhode Island 15#16-> Attractive financial model, growth, and profitability $502 signifyhealth. 2019 Revenue (¹) ($ in millions) CAGR: 23% (3) $611 2020 $745-765E 2021 Guidance (4) Adj. EBITDA (1,2) ($ in millions) $93 2019 CAGR: 31%(3) $125 2020 1) Remedy acquisition completed on 1/15/2019 2) We define Adjusted EBITDA as net income (loss) before interest expense, income tax expense, depreciation and amortization and certain items of income and expense, including asset impairment, other (income) expense, net transactions-related expenses, equity-based compensation, remeasurement of contingent consideration, loss on extinguishment of debt, management fees and non-recurring expenses. See slide titled "Reconciliation from GAAP net loss to Adjusted EBITDA" for a reconciliation of Adjusted EBITDA to net loss and the calculation of Adjusted EBITDA Margin 3) Reflects mid-point of 2021 guidance range 4) Guidance as of August 11, 2021 $155-165E 2021 Guidance (4) 16#17--> Six-month results through June 30, 2021 Revenue ($ in millions) signifyhealth. $262 6 mos 2020 + 50% $393 6 mos 2021 Adj. EBITDA (¹) ($ in millions) $57 6 mos 2020 +56% 1) We define Adjusted EBITDA as net income (loss) before interest expense, income tax expense, depreciation and amortization and certain items of income and expense, including asset impairment, other (income) expense, net transactions-related expenses, equity-based compensation, remeasurement of contingent consideration, customer equity appreciation rights, SEU expense, loss on extinguishment of debt, and non-recurring expenses. See slide titled "Reconciliation from GAAP net loss to Adjusted EBITDA" for a reconciliation of Adjusted EBITDA to net loss and the calculation of Adjusted EBITDA Margin $89 6 mos 2021 17#18● ● ● signifyhealth. National leader in value-based care Human-centered approach addresses individuals' total clinical, social and behavioral needs Proven results through cost and quality improvements, better consumer and provider experience Premiere customer base of payors and providers with significant opportunities to cross-sell and expand Large and growing markets. Driving healthcare signifyhealth Homeward. IPO: February 11, 2021 NYSE: SGFY signifyhealth. SGFY LISTED NYSE *******#19Appendix signifyhealth. 19 —#20Reconciliation from GAAP Net Loss to Adjusted EBITDA $ in millions Net loss Interest expense Loss on extinguishment of debt Income tax (benefit) expense Depreciation and amortization Other expense (income), net Asset impairment Year Ended December 31 signifyhealth. 2020 (14.5) 22.2 0.9 62.3 9.0 0.8 12.1 12.4 15.2 4.5 124.9 20191 20.5% (28.5) 21.2 0.1 66.0 (1.6) 6.4 4.5 22.4 2.8 93.3 6 Months Ended June 30 18.6% 2021 Equity-based compensation Customer equity appreciation rights Transaction-related expenses SEU expense Other (2) Adjusted EBITDA Adjusted EBITDA Margin 1) Remedy acquisition completed on 1/15/2019. 2) Other includes remeasurement of contingent consideration, non-recurring expenses, including those associated with one-time costs related to the COVID-19 pandemic, the closure of certain facilities, the sale of certain assets and the early termination of certain contracts. (51.8) 13.3 5.0 (10.1) 34.0 71.0 5.8 9.8 6.6 1.8 3.5 89.0 2020 22.7% (1.9) 11.1 ! 0.3 30.2 0.6 1 7.8 2.6 4.0 1 2.5 57.1 21.8% 20

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