The former CEO of Aetna shares how he plans to turn around the struggling health insurer Oscar
Oscar faced a big setback in its effort to sell its technology
But the company has proved him wrong. It's enrolled more than 1 million members, and it's on the brink of profitability, he said. Oscar previously said that itin its insurance business this year and turn a profit across its entire business in 2024. Oscar's revenue was $4 billion in 2022, up from $1.8 billion the year before.
At the annual ViVE conference on Monday, March 27, Health First Chief Information Officer William Walders said during a panel discussion that a failed partnership between its health plan and widely known digital tool led to a"nine-figure loss" — at least $100 million — for Health First.
"Health First had a lot of its own idiosyncratic sort of processes and procedures, and the company wasn't prepared to make that level of change in support of that customer. So it didn't work out well," he said, adding that the technology is performing as it should for Oscar's own members.
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