Clover Health reposted this
Here at Clover Health, we just announced our 2023 results and 2024 guidance. I want to take a minute to call out the incredible progress we’ve made as a business since going public just a few short years ago. We’ve gone from an MCR of 106% in 2021, to 91.8% in 2022, to what we announced today, 81.2% for 2023. Furthermore, we continue to be confident that our business plan will take us to full year 2024 positive Adjusted EBITDA profitability — another major milestone in the progress of the company. While we are a company that most often focuses on the future, it’s helpful in these moments to recognize how hard work and focus can pay off. During 2023, our team stayed focused on our core mission of improving every life, and has put us well on the path to being able to do so as a sustainable public company. I could not be more proud of every member of the team, from our nurses, physicians, and MAs who provide quality care to member in their homes; to our operations team who work tirelessly to keep the health plan running; to our technology team, which has relentlessly focused on making Clover Assistant a key tool for Clover and its providers to ensure the best possible care for every member. Undoubtedly, challenges will arise in the future, as they do in any business. That said, I do hope that these excellent results in 2023, particularly in light of the difficulties faced by others in our industry, gives members, brokers, employees, and shareholders — both current and future — evidence-based confirmation that we’ve assembled a team and a business that can thrive and succeed. In the meantime, we will continue to keep our heads down, focused on the future, and let our numbers do the talking. ---- For more information on Adjusted EBITDA, a non-GAAP financial measure, please see our March 12, 2024 Earnings Release and Appendix A). https://lnkd.in/eYyvH6Nq ----
Well executed, Andrew! Keep the momentum going strong!
Congratulations Clover Team! Nothing worthwhile comes easy. This system of care step change is no small feat. Your laser focused hedgehog concept strategy is on full display and the numbers are starting to get attention. It is obvious that people are getting better care and have better health outcomes when their physicians have the support of Clover Assistant. I hope that one day in the not too distant future that everyone benefits from physicians empowered by Clover Assistant. For all the right reasons, Clover Health is stealthmode on their way to be the best in the world.
That's impressive progress indeed! Hope to see you and the team succeed...
I read this and you all are making great progress on the unit economics. Congratulations to you and the team!
We believe in you and the team!
Congratulations Andrew and team!! Great progress! Thank you for your partnership!
Nah, sorry Clover, but your future is not 4-leaf. Medicare Advantage money is the low hanging fruit of healthcare dollars, motivating investors to pour Billions into healthcare’s many failed startups, all chasing the profits off the backs of tax dollars. No real innovation there. Could our independent family practice clinic lose $hundreds of millions every year, still pay our staff high salaries… yet stay in business…?
Now fix the stock price! 😩😩😩
Vice President of Sales at Wider Circle
4moWow. Incredible progress! Congratulations!