Provides value to its customers in the following ways :
Extensive medical coverage to its members , including prescription and vision coverage , gym memberships , primary care coverage , collaborating with a range of healthcare providers and medical service companies ;
Utilising data and analytics technology to assess the needs and concerns of each individual client , in order to provide a tailored and accurate service ;
Its affordability , with the Company offering affordable medical coverage plans , spanning low - cost basic plans to more expensive , but cost - effective , Premier and Prestige plans that provide a greater degree of coverage .
Clover Health generates revenue through the provision of health insurance and healthcare services to customers under US Government’s federal Medicare Advantage program .
The Company derives revenue in two principal streams :
- Revenue derived through the payment of premiums by the government under the Medicare Advantage program ;
- Revenue derived from health coverage subscriptions .
Clover Health offers insurance plans at three different levels .
This includes a basic plan that does not incur a monthly cost , as well a more extensive plans at the Premium and Prestige level , which cost around $ 40 and $ 178 per month respectively .
The Center for Medicare and Medicaid ( CMS ) - introduced direct contracts as a new type of payment model .
The move to direct contracts was intended to encourage health / insurance providers to move from a pay - for - service model to a value-based model .
In other words , to focus on your health and the results of rather expensive treatments .
The goal of a direct contract CMS is to transfer more control to healthcare providers .
It is hoped that health / insurance providers will invest more in technology as incentives are aimed at improving health outcomes .
In this case , Clover Health already has an advantage over its competitors with its data - driven and AI -powered Clover Assistant software .
Clover Assistant is a key differentiator for the company .
Traditional approaches to healthcare are constrained by factors such as outdated technologies and large capital requirements .
After launching Clover Health's direct contracting business , the company added 65,000 new members in eight states .
Clover Health's home - based primary care program has been designed to improve the management of medically challenging cases .
This is especially useful for debilitated or bedridden elderly people with limited mobility .
Clover Health's home - based primary care program was able to reduce hospital admissions by 17 % and medical costs by an average of $ 325 per participant per month .
Clover Health believes that it will be able to expand its direct contract business to 200,000 beneficiaries in the near future .
By the end of 2021 , the company plans to reach between 70,000 and 100,000 beneficiaries .
This should mean an additional $ 20 million to $ 30 million in revenue for the company .
For 2020 , revenue :
1 St quarter - $ 166 million .
4 Th quarter - $ 166 million .
Revenue for 2021 based on the results for the 1 st quarter - $ 200 million .
The next date for receiving the profit report is august 11.08.2021 .
At the moment , the price per share is $ 8.09 .
Submitted August 02, 2021 at 01:56AM by Character-Book-4143 https://ift.tt/3rM0AE5
