Oscar Health aims to expand into six new markets

By Catherine Sturman
Recently raising $165mn in a new funding round, technology-driven healthcare insurer Oscar Health is set to undergo significant expansion, empowering co...

Recently raising $165mn in a new funding round, technology-driven healthcare insurer Oscar Health is set to undergo significant expansion, empowering consumers through utilising data science and technology to deliver exceptional products and solutions.

Partnering with healthcare organisations, such as the Cleveland Clinic, Humana, and AXA, the company is set to offer its insurance services in nine states and 14 markets next year, effectively doubling its present footprint. Oscar Health’s six new markets will span across Florida, Arizona and Michigan, alongside three metro areas, Ohio, Tennessee, and Texas, subject to regulatory approval.

Fast becoming one of the fastest-growing insurers in the country, Mario Schlosser, CEO and Co-Founder, Oscar Health has stated, the company will continue to drive efficient, high quality care and serve new and existing members on a national scale.

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“Each new member and interaction with the health care system offers Oscar an opportunity to refine our member apps and make better recommendations for care; to enable our population health leads and Concierge teams to drive more personalised interventions; to empower providers with easier tools that let them focus on delivering care,” Schlosser adds.

“Oscar built and owns the full insurance stack, from our claims system to our mobile apps, allowing us to constantly feed structured data back into system and fuel the member experience.”

News of the company’s expansion follows on from continual plans by the Trump Administration to look at ways to eradicate or destabilise the coverage provided by the Affordable Care Act.

Oscar Health’s membership numbers continue to rise and has grown by over 200% from 2017-2018, where over 10mn citizens have now signed up to receive continual health information, book appointments and receive clinical results.

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