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Clover Health | 10-Q: Q3 2024 Earnings Report

Clover Health | 10-Q: Q3 2024 Earnings Report

Clover Health | 10-Q:2024财年三季报
美股SEC公告 ·  2024/11/08 21:14

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Clover Health reported strong Q3 2024 financial results with total revenue increasing 8.2% to $331 million, driven by a 7.1% rise in premiums earned to $322.6 million. The company significantly narrowed its net loss to $9.2 million from $41.5 million in Q3 2023, while maintaining a stable medical care ratio of 78.0%.The company demonstrated improved operational efficiency with a 9.2% reduction in salaries and benefits to $55.0 million and a 14.2% decrease in general and administrative expenses to $35.2 million. Other income grew 75.2% to $8.4 million, benefiting from higher interest rates. The Insurance segment served 81,110 Medicare Advantage members across five states.Notable developments include CMS increasing Clover's PPO Medicare Advantage plans rating to 4 Stars for 2025, which will enable a 5% quality bonus increase in benchmark rates for 2026. The company also launched Counterpart Health, a new SaaS solution to extend its AI-powered care management platform to external Medicare Advantage payors and providers.
Clover Health reported strong Q3 2024 financial results with total revenue increasing 8.2% to $331 million, driven by a 7.1% rise in premiums earned to $322.6 million. The company significantly narrowed its net loss to $9.2 million from $41.5 million in Q3 2023, while maintaining a stable medical care ratio of 78.0%.The company demonstrated improved operational efficiency with a 9.2% reduction in salaries and benefits to $55.0 million and a 14.2% decrease in general and administrative expenses to $35.2 million. Other income grew 75.2% to $8.4 million, benefiting from higher interest rates. The Insurance segment served 81,110 Medicare Advantage members across five states.Notable developments include CMS increasing Clover's PPO Medicare Advantage plans rating to 4 Stars for 2025, which will enable a 5% quality bonus increase in benchmark rates for 2026. The company also launched Counterpart Health, a new SaaS solution to extend its AI-powered care management platform to external Medicare Advantage payors and providers.
Clover Health在2024年第三季度报告了强劲的财务业绩,总营业收入增长了8.2%,达到了33100万,主要得益于保费收入增长了7.1%,达到了32260万。公司显著缩小了净亏损,从2023年第三季度的4150万降至920万,同时保持了稳定的医疗保健比率为78.0%。公司展现了提高的运营效率,薪资和福利下降了9.2%,降至5500万,管理费用下降了14.2%,降至3520万。其他收入增长了75.2%,达到了840万,受益于更高的利率期货。保险部门在五个州服务了81,110名医疗保险优先计划成员。值得注意的发展包括CMS将Clover的PPO医疗保险优先计划评级提高到2025年的4星,这将使得2026年的基准费率质量奖金增加5%。公司还推出了Counterpart Health,这是一种新的SaaS-云计算解决方案,旨在将其基于人工智能的护理管理平台扩展到外部医疗保险优先支付者和提供者。
Clover Health在2024年第三季度报告了强劲的财务业绩,总营业收入增长了8.2%,达到了33100万,主要得益于保费收入增长了7.1%,达到了32260万。公司显著缩小了净亏损,从2023年第三季度的4150万降至920万,同时保持了稳定的医疗保健比率为78.0%。公司展现了提高的运营效率,薪资和福利下降了9.2%,降至5500万,管理费用下降了14.2%,降至3520万。其他收入增长了75.2%,达到了840万,受益于更高的利率期货。保险部门在五个州服务了81,110名医疗保险优先计划成员。值得注意的发展包括CMS将Clover的PPO医疗保险优先计划评级提高到2025年的4星,这将使得2026年的基准费率质量奖金增加5%。公司还推出了Counterpart Health,这是一种新的SaaS-云计算解决方案,旨在将其基于人工智能的护理管理平台扩展到外部医疗保险优先支付者和提供者。
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