STAT February 5, 2024
Devoted Health has been one of the most prominent health insurance and provider startups of the past decade — founded and overseen by several alumni of former President Barack Obama’s administration.
But it has not turned a profit after five years of selling Medicare Advantage plans to older adults, according to a STAT analysis of Devoted’s financial filings. And Devoted isn’t sharing many details about its progress, either.
Health insurance companies take a while to reach profitability because they need to enroll a...
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