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BrightSpring Health Services reported $288 million in home health revenue for the third quarter of 2026, up 50% from a year earlier, with acquisitions accounting for much of the increase. The company is also expanding virtual and in-home primary care and was selected for a Medicare ACO program scheduled to begin in January 2027.
BrightSpring Health Services reported $288 million in home health revenue for the third quarter of 2026, a 50% year-over-year increase, while executives described plans to expand virtual and in-home primary care. Much of the revenue growth came from acquired home health and hospice branches; the company is also looking to connect primary care with its other services and pursue more value-based care opportunities.
The results were discussed on BrightSpring’s Oct. 30 earnings call. The Louisville, Kentucky-based provider said home health revenue rose 50% compared with the same quarter in 2025. Acquired Amedisys and LHC Group assets contributed $76 million to company revenue, and the overall home health increase was largely driven by those acquisitions. Excluding the acquired branches, home health revenue grew 12% year over year.
BrightSpring’s home health census increased approximately 58% year over year in the quarter, CEO Jon Rousseau said. He attributed that growth to the acquired branches, new locations, business development and expanded preferred relationships with Medicare Advantage plans. The census increase is a measure of patients served, not a separate revenue figure.
Rousseau said BrightSpring is expanding its virtual primary care offering, including care for higher-risk, rural and homebound patients. The company’s approach includes in-home care for people with complex health needs, chronic conditions or limited mobility. BrightSpring reported total third-quarter revenue of $4.21 billion, up 24.6% from a year earlier; the company said pharmacy solutions accounted for most of its total revenue.
Primary Care Extends Home Health Partnerships
BrightSpring is presenting primary care as a way to connect its home health, pharmacy and other services, while building relationships with Medicare Advantage plans, hospitals and accountable care organizations. The strategy could give the company additional opportunities to coordinate care for patients who have difficulty traveling to clinics, particularly after a hospital or nursing-home discharge. Those are company aims, not proof that the model has already produced broader savings or improved outcomes.
Executives also linked primary care to potential growth in value-based care, where payment can depend on care quality, outcomes or total costs rather than only the volume of services. BrightSpring said it sees opportunities to combine medication management and virtual primary care with home health. The financial results show substantial growth, but the reported 50% increase was heavily shaped by acquisitions; the 12% figure excluding the acquired branches gives a different view of existing operations.
The company’s participation in a new Medicare ACO program may provide another route to connect services and receive value-based payments. BrightSpring said it expects the model to have meaningful economics later, but the potential financial effect is not yet reported as realized revenue.
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Acquisitions Reshaped Home Health Growth
BrightSpring provides home health, personal care, hospice, infusion and other services across all 50 states. The company said it works with about 500,000 customers, clients and patients. Its primary care offering targets people with complex health issues, chronic conditions or limited mobility, using in-home care and virtual visits.
The home health revenue comparison reflects a major change in the size of BrightSpring’s operations. Near the end of 2025, the company completed acquisitions involving Amedisys and LHC Group assets. BrightSpring acquired 107 home health and hospice assets from UnitedHealth Group and Amedisys in a deal valued at nearly $239 million, according to the source report. The acquired operations contributed $76 million of company revenue in the quarter, helping explain why reported growth exceeded the 12% increase excluding those branches.
Other third-quarter figures also reflected growth across the business. Chief Financial Officer Jennifer Phipps said provider services generated $79 million in EBITDA, up 30% year over year, and up 16% excluding the acquired Amedisys and LHC Group units. EBITDA is a measure of operating performance before interest, taxes, depreciation and amortization; it is not the same as net income.
“We see our model of primary care in the community and inpatient residences as key to driving more integrated and coordinated care across our service lines, better care transitions, optimal outcomes and growth from value-based care models and new payer opportunities.”
— Jon Rousseau, BrightSpring CEO, on the Oct. 30 earnings call
Financial Returns Remain Unreported
BrightSpring has not reported how much revenue or profit its primary care expansion has generated, or how many patients currently receive those services. Rousseau cited reduced hospitalization rates as an advantage of the program, but the earnings-call material does not provide a rate, comparison period or supporting figures to quantify that claim.
The company’s anticipated returns from the LEAD Medicare program also remain prospective. Rousseau said BrightSpring was selected for the program and expects impactful economics from it by 2028, but the call did not specify the expected dollar amount or explain the assumptions behind that outlook. The reported growth figures do not establish how much future performance will come from new services rather than acquisitions, new locations or existing operations.
BrightSpring said it began implementing technology solutions, including AI-related tools, during the third quarter and plans to continue in the fourth quarter. It has not yet reported measured returns on that investment. The company’s selected status for LEAD is attributed to Rousseau’s remarks on the call; further details about its participation and financial terms were not provided in the source material.
LEAD Program Starts in January
BrightSpring said its participation in the Long-term Enhanced ACO Design (LEAD) Medicare program is scheduled to begin in January 2027. Rousseau said the company could see impactful economics from the program by 2028. Future earnings updates should clarify whether that opportunity translates into measurable results and how it interacts with the company’s primary care and home health services.
The company also expects to continue deploying technology solutions in the fourth quarter after starting implementation in Q3, according to Phipps. BrightSpring has said it expects opportunities for return on investment, but has not yet disclosed measured savings or returns. Its next financial reports may provide more information on implementation, operating performance and the contribution of acquired branches.
Key Questions
How much did BrightSpring’s home health revenue grow?
BrightSpring reported $288 million in home health revenue for Q3 2026, up 50% year over year. Excluding acquired Amedisys and LHC Group branches, revenue grew 12% year over year.
How much did the acquisitions contribute?
The acquired Amedisys and LHC Group assets contributed $76 million of company revenue in the quarter. BrightSpring said acquisitions were a major driver of home health growth.
What is BrightSpring planning in primary care?
The company is expanding virtual and in-home primary care, with a focus on higher-risk, rural and homebound patients. It aims to connect those services with home health, medication management and other parts of its business.
When does BrightSpring’s LEAD ACO participation begin?
BrightSpring CEO Jon Rousseau said the Medicare LEAD program is scheduled to begin in January 2027. He said the company could see impactful economics by 2028, but did not give a specific financial estimate.
Has BrightSpring reported returns from its technology investments?
No measured return was provided in the source report. CFO Jennifer Phipps said implementation began in Q3 and would continue in Q4, with the company expecting opportunities for return on investment.
Source: homehealthcarenews.com
