Insurtechs like Bright Health Group, Clover Health and Oscar Health set out to disrupt health insurance — but have they actually done so? Not in a positive way, several experts say.
Here is a selection of recent executive hires, promotions and layoffs occurring across the healthcare industry.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
An Oscar Health survey found that about 93% of respondents are “extremely,” “very” or “somewhat” concerned about the state of the economy. Another 44% of respondents listed the economy as their top healthcare concern.
Provider intelligence platform CertifyOS recently raised $14.5 million in Series A funding, which it will use to strengthen its automation software for clinician credentialing, licensing and enrollment. The startup also announced it has received certification as a CVO from the National Committee for Quality Assurance.
Though the Medicare Advantage-focused insurance technology startup is smaller than rivals like Clover Health in terms of membership and revenues, this latest financing round places it ahead of, or at least on par with, several larger competitors with regard to total funds raised.
Bright Health will use proceeds from its IPO to fund the expansion, which will bring its total number of markets to 141 from 99. The company will also expand its product portfolio in states where it already operates.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
With plans to sell 60 million shares of common stock, Bright Health will price its IPO between $20 and $23 per share. It will trade on the New York Stock Exchange under the symbol "BHG," according to a recent SEC filing.
Bright Health has filed preliminary paperwork for an IPO, joining its rivals in the insurance technology space in going public. Though there are few confirmed details at the moment, Bright Health is reportedly looking to raise $1 billion through the offering.
Despite recording a net loss of $87 million in Q1 2021, the insurance startup's leaders are optimistic about future growth, especially in light of the launch of +Oscar. A platform business, +Oscar generates revenue by making the company's technology stack available to providers and payers.
Insurance startups' interest in telehealth is backed by both technical expertise and a focus on consumer experience. This will provide them a leg up not only in the competitive telehealth arena but also in consolidating other digital care services.
We will highlight Build My Health's revenue practice management tools, which could help physician practices add up to $250,000 to their practices.
Insurance startup Bright Health is reportedly planning to raise up to $1 billion in an IPO that will be launched in the second quarter of 2021. The company, which provides several insurance products as well as an IT platform, could be valued at more than $10 billion, Bloomberg reported.
Alignment Healthcare, an insurtech startup, has launched its IPO and plans to price its individual shares between $17 and $19. The company offers Medicare Advantage plans and says it uses predictive analytics technology to pinpoint seniors' care needs.
A new startup has entered the highly competitive insurtech market — with $50 million in new funds. Circulo, co-founded by Olive CEO Sean Lane, is a Medicaid managed care company that plans to build a platform to improve care delivery and member experience.
Insurance startup Oscar Health plans to price its IPO between $32 and $34 per share. The New York-based startup plans to trade on the New York Stock Exchange under the ticker “OSCR.”
Oscar Health filed preliminary paperwork for an IPO on Friday. The health insurance startup is betting that its technology can give it an edge as it fights for market share with bigger competitors.