Healthcare Finance News November 11, 2022
There’s unpredictability in the new program, and Clover is aiming to lower its medical cost ratio, says President Andrew Toy.
Insurtech company Clover Health is scaling back its participation in the federal government’s Accountable Care Organization Realizing Equity, Access and Community Health program.
“We have decided to significantly decrease the total number of participating physicians,” said President Andrew Toy during the company’s third-quarter earnings call this week.
The move is being done in part to improve the company’s medical cost ratio, which for the third quarter was 104.2% in the non-insurance segment. Also, there’s still unpredictability in the new model, according to Toy. ACO REACH is not yet a statutory program, so its rules can change and its rates could...
Today's Sponsors
Today's Sponsor