UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Jurisdict ...

Company Overview - Apollo Medical Holdings, Inc. coordinates care for approximately 1.3 million patients as of December 31, 2022, through a network of over 11,000 contracted healthcare providers[28]. - The company operates under the Global and Professional Direct Contracting Model (GPDC Model) and has transitioned to the ACO REACH Model as of January 1, 2023[27]. - ApolloMed's management service organizations (MSOs) provide administrative support to affiliated physician groups, enhancing operational efficiency[26]. - Following the 2017 merger with NMM, ApolloMed has positioned itself as a significant player in the healthcare delivery segment, leveraging NMM's assets and revenues[24]. - ApolloMed's common stock is listed on the NASDAQ Capital Market under the symbol "AMEH"[26]. Revenue Model - Revenue streams include capitation payments from CMS, risk pool settlements, management fees, and fee-for-service reimbursements, indicating a diversified revenue model[25]. - ApolloMed's financial performance is influenced by the capitation model, where fixed payments are received from health plans in exchange for healthcare service delivery[32]. - The company has diversified its service offerings, reducing business risk and increasing revenue opportunities across a horizontally integrated care network[81]. - The company received $48.8 million and $21.8 million in risk pool savings related to the 2021 and 2020 performance years, respectively[77]. - For the years ended December 31, 2022, 2021, and 2020, four payors accounted for 59.0%, 49.6%, and 53.4% of total net revenue, respectively[79]. Healthcare Trends - U.S. healthcare expenditures are projected to grow at an average annual rate of 5.1% from 2021 to 2030, reaching approximately $6.8 trillion by 2030[43]. - Medicare spending increased by 8.4% to $900.8 billion in 2021, while Medicaid spending rose by 9.2% to $734.0 billion[43]. - The healthcare share of U.S. GDP is expected to remain consistent at 19.6% by 2030, down from 19.7% in 2020[43]. - The healthcare industry is shifting towards value-based payment models, with an increasing number of Americans covered by capitated payment programs[46]. Strategic Focus - The company emphasizes a value-based healthcare approach, focusing on patient satisfaction and cost efficiency in its service delivery[23]. - ApolloMed's strategic focus includes expanding its integrated healthcare models to enhance care coordination and improve patient outcomes[25]. - The integrated medical systems are positioned to leverage scale and expertise to improve care quality and lower costs[51]. - Population health management is a central trend within healthcare delivery, aiming to improve health outcomes while lowering costs[56]. Regulatory Compliance - The company is subject to corporate practice of medicine laws in California, which restrict non-physician ownership in medical practices[30]. - Regulatory compliance is critical, as violations of healthcare laws could have a material adverse effect on the company's business and financial condition[94]. - The company must navigate complex anti-kickback statutes, which prohibit remuneration for patient referrals, with violations leading to severe penalties[103]. - Compliance with HIPAA regulations is critical, as violations may result in civil and criminal penalties, including fines and mandatory notifications[116]. Competition - The company faces significant competition from larger healthcare management companies and provider networks, which have greater financial and personnel resources[88]. - In the greater Los Angeles area, competitors include Regal Medical Group, Lakeside Medical Group, and Optum, which are part of larger healthcare networks[89]. - The company faces competition in the creation and management of Accountable Care Organizations (ACOs) from larger groups like Privia Health and Aledade[90]. Employee Engagement - As of December 31, 2022, ApolloMed had 1,362 employees, with no labor union membership and no work stoppages reported[128]. - The company emphasizes employee engagement and retention through ongoing surveys and programs aimed at enhancing satisfaction and productivity[129]. Management and Expertise - The management team has extensive experience in managing healthcare organizations, providing a strong foundation for future growth[82]. - The company has developed expertise in population health management, resulting in improved Risk Adjustment Factor (RAF) scores and higher payments from health plans[87]. - The healthcare management programs have led to improved quality metrics in both inpatient and outpatient settings, enhancing patient satisfaction and CMS scores[87].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 for the transition period from ___ to ___ . Commission file number: 001-37392 (Exact name of registrant as specified in its charter) | Delawar | | --- | (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___. Commission File No. 001-37392 Apollo Medical Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4472349 (State or Other Jurisdiction (I.R.S. Employer Wa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 for the transition period from ___ to ___ . Commission file number: 001-37392 Apollo Medical Holdings, Inc. (Mark One) (Exact name of registrant as specified in its charter) | Delawar | | --- | (State or o ...