$Clover Health Corp(CLOV)$ A while back (roughly two months or so ago), I managed to dig through a decent amount of the provider directory that Clover Health provides (there are 10s of thousands of PCPs on those lists) on their website (they have about 8 or 9 provider directories for the geographies (states) they cover. Sorry for only posting about this now, but totally spaced it a while back after doing DD.
I spoke with roughly 30+ PCPs in Georgia, Texas, and New Jersey (mainly speaking to their assistants (who might I add know pretty much everything about what goes on in the practices, it's incredible how knowledgeable some of these people are)). I mainly asked two questions: 1) whether or not they offer coverage under Clover Health, and 2) if they were using Clover Assistant, and if it was a valuable resource to their patient diagnostics' processes?
The responses I received were ~90% positive (the other ~10% weren't taking Clover Health coverage), as in 90% of them were using it, and roughly 80% of that 90% were utilizing Clover Assistant and were saying that it was so convenient to have a system like Clover Assistant at the touch of their fingertips. They said they were running diagnostic processes efficiently, and the main thing that they were grateful for was that it was all done electronically; they also stated that the other insurance providers only use paper in the industry which causes a lot of mishaps (i.e. overcharges, lost documents, etc.). My take from the feedback is that other insurers like UNH, HUM, etc. are asleep at the wheel and are doing nothing to be innovative, as they don't need to fix what isn't broken in their view. The only inconvenient thing they spotted about Clover was that isn't connected to the overall healthcare database, but that isn't an issue anymore since that was announced this past week (i.e. FHIR).
In my opinion, the entire narrative stands, and keep in mind this DD was done two months ago, things are most likely better by now (i.e. even more PCPs are using it). Forgive me if someone has already done DD like this, but if not hopefully this is helpful as it is tangible information about what's actually happening on the ground. I do plan on assessing this in the coming days and calling back the PCPs I called and plenty more of them.
Happy investing Fellow Clovers!
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