Workweek January 9, 2024
agilon’s no-good, very bad start to 2024
agilon kicked off the year in the worst possible way for the Medicare-focused enablement firm, announcing a huge cut to its expected financial results. Meanwhile, it also announced the retiring of its CFO on the same day. Goes without saying, but announcing a CFO transition the same day your company slashes your projected earnings is a recipe for disaster, as noted by the utter destruction of shareholder value, down 30% on the day:
As it turns out, agilon – a ~$5B enterprise (well, now $3.2B) – was flying blind for much of 2023 with lagging claims data and a poor analytics infrastructure:
- ‘During 2023, agilon health experienced an increase in medical expenses...
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