Gohealth, Inc. Stock Price, News & Analysis

GoHealth (NASDAQ: GOCO) is preparing for the Annual Enrollment Period (AEP) with enhanced technology and training aimed at improving member retention and addressing social determinants of health (SDOH). In the previous year, GoHealth assisted over 2 million individuals and helped 80% of customers find savings. Key initiatives include Member Care Assessments to identify healthcare gaps and strategic partnerships with GoodRx and Aunt Bertha, which focus on prescription savings and connecting members with community resources. A new bilingual TeleCare team has been deployed to better serve the Latinx community.

GoHealth (NASDAQ: GOCO) has partnered with Aunt Bertha to tackle social determinants of health (SDOH) impacting its members. SDOH are factors like limited access to food and transportation that affect well-being. Through Member Care Assessments (MCAs), GoHealth identified key issues, including 63% of members using food stamps and 65% reporting feelings of loneliness or anxiety. The partnership aims to connect members with community resources, enhancing GoHealth's Encompass offerings for Medicare beneficiaries. This initiative reflects GoHealth's commitment to improving healthcare accessibility.

GoHealth, Inc. (NASDAQ: GOCO) reported strong financial results for Q2 and YTD 2021, with net revenue reaching $196.9 million, a 55% increase year-over-year. Year-to-date net revenue totaled $401.1 million, up 50%. Medicare—Internal revenue surged 84% to $160.4 million in Q2. Despite these gains, the company posted a net loss of $39.2 million compared to $22.9 million last year. Adjusted EBITDA fell 47% to $14.3 million. The outlook for 2021 has been tightened with projected net revenue of $1.2 billion to $1.3 billion.

GoHealth, Inc. (NASDAQ: GOCO) and GoodRx, Inc. (NASDAQ: GDRX) have formed an exclusive partnership to integrate GoHealth's Medicare enrollment solutions within the GoodRx platform. This collaboration aims to assist millions of GoodRx users, many of whom are Medicare recipients, in exploring Medicare coverage options. The agreement enhances GoHealth's offerings with GoodRx's prescription discounts, potentially saving users up to 80% on medications at over 70,000 pharmacies. This partnership reflects both companies' commitment to improving healthcare access and affordability for customers.

GoHealth, Inc. (GOCO) will release its Q2 2021 financial results on August 11, 2021, at 4:00 p.m. (ET). Following the release, a conference call will occur at 5:00 p.m. (ET) to discuss the results. Interested parties can join via a dial-in number or an audio webcast on GoHealth's Investor Relations website. GoHealth focuses on improving healthcare access through technology and data science, having enrolled millions in health insurance plans since inception.

GoHealth's Annual State of Medicare 2021 report reveals insights into older Americans' healthcare challenges post-COVID-19. Despite signs of recovery, 24% of older adults nearing Medicare eligibility struggle with financial burdens, often choosing between medical and household expenses. The survey of 2,000 individuals highlights that 22% of seniors cannot pay healthcare costs. Notably, virtual doctor visits saw a decline in interest, dropping from 49% in 2020 to 36% in 2021. The report underscores the necessity for insurance companies to address the ongoing financial concerns of Medicare beneficiaries.

GoHealth, Inc. (NASDAQ: GOCO) announced the refinancing of $296 million in its outstanding term loan, resulting in a reduced interest rate of 4% and annual borrowing cost savings exceeding $7 million. The amended credit facility also lowers the borrowing costs of its $200 million revolver. CFO Travis Matthiesen expressed optimism about the company's growth in the Medicare marketplace, emphasizing strong access to financing to support growth initiatives during the Annual Enrollment Period.

GoHealth (NASDAQ: GOCO) has been recognized in Crain's Chicago Business 2021 Fast 50 Feature as the 18th fastest-growing company in the Chicago area, based on revenue growth from 2015 to 2020. This achievement highlights GoHealth's commitment to enhancing customer experience, as stated by CEO Clint Jones. In 2020, GoHealth expanded into several new markets including Phoenix, Tampa, Dallas, and Columbus, while also enhancing its virtual sales capabilities in Nashville, Atlanta, and St. Louis. Eligible companies must have generated at least $15 million in revenue in 2020 to be considered.

GoHealth, a leader in health insurance marketplaces and Medicare-focused digital health, is set to participate in the virtual World Health Care Congress (WHCC21) from June 8-10, 2021. This marks their first attendance at the event. Ben Miller, Senior Vice President, will moderate a panel on improving care management for the aging population, featuring GoHealth's Chief Medical Officer, Paul Hain, M.D. The discussion will focus on strategies to reduce social and behavioral risks, enhance patient care, and address social determinants of health. The event expects over 1,500 attendees from across the healthcare sector.