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Business Summary: Clover Health Investments, Corp. is a physician enablement company. The Company is focused on seniors who have historically lacked access to affordable healthcare. It offers a software platform, Clover Assistant, which is designed to aggregate patient data from across the health ecosystem to support clinical decision-making and improve health outcomes. The Company operates under two segments: Insurance and Non-Insurance. Through its Insurance segment, it provides Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO) plans to Medicare Advantage (MA) members in several states. The Company's Non-Insurance segment consists of operations in connection with its participation in the Direct Contracting program. The Company’s subsidiaries include Clover Health Labs, LLC, Medical Service Professionals of NJ LLC, Clover HMO of New Jersey Inc., Clover Health Holdings, Inc. and Clover Health Partners, LLC.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2023, Clover Health Investments Corp revenues decreased 42% to $2.03B. Net loss decreased 37% to $213.4M. Revenues reflect Non Insurance segment decrease of 67% to $778.4M, Corporate/Other segment decrease of 20% to $59.6M. Lower net loss reflects Net medical claims incurred decrease of 49% to $1.78B (expense), Salaries and benefits decrease of 8% to $257.2M (expense).