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OSCR - Clover Health: Strategic Refocus After Learning From Previous Missteps
Oscar Health Inc. Class A
2023-05-15 04:15:56 ET
Summary
CLOV's revenue decline was expected as management embraced a strategic decision to axe unprofitable accounts.
Despite the revenue decline, CLOV saw margins in both Medicare Advantage and Accountable Care Organization segments increase.
The decision to offload unprofitable accounts will allow CLOV to focus on its core business and pursue a more measured but possibly more profitable growth.
Concerns over the scalability of Clover Assistant persist.