Healthcare Innovation December 6, 2023
Physician enablement company says it has ‘not seen a clear line to profitability in this business’
Publicly traded physician enablement company Clover Health (NASDAQ: CLOV) says it will exit the ACO REACH program at the end of the 2023 performance year, citing a lack of profitability.
ACO REACH is an advanced alternate payment model (APM) for physicians in value-based arrangements that requires assuming financial risk for Medicare beneficiaries while committing to advancing health equity, stakeholder feedback and participant experience. To better support care delivery and coordination for patients in underserved communities, each model participant must design and implement a comprehensive health equity plan that identifies its underserved communities and establishes initiatives to measurably reduce health disparities within their beneficiary...