Fierce Healthcare March 13, 2024
Insurtech Clover Health execs are reiterating their path to profitability is headed in the right direction.
The Medicare Advantage company posted an adjusted EBITDA loss of $19.1 million in the fourth quarter and a full-year loss of $44.7 million last year, marking a significant improvement over 2022. The company recorded an adjusted EBITDA of $80 million for the fourth quarter and a full-year loss of $290.4 million during 2022.
But Clover Health executives touted the company’s improved medical cost ratio (MCR) of 81.2% for 2024, during its fourth-quarter and full-year earnings call on Tuesday. The company also issued guidance indicating MCR would be between 79% and 83%. It also expects adjusted EBITDA profit up to $20 million and revenue to...
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