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Oscar Health, Inc. (symbol: OSCR) is a modern health insurance company dedicated to humanizing healthcare through technology, design, and data. The company offers a variety of health insurance plans tailored for individuals, families, and employees, aiming to provide a seamless healthcare experience. In addition to traditional health insurance, Oscar Health provides a range of services including virtual care, doctor support, appointment scheduling, and more. Notably, the company is also involved in the Medicare Advantage program, offering plans to adults aged 65 and older who are eligible for traditional Medicare but prefer private market plan coverage.
Recent Achievements and Projects
Oscar Health has been at the forefront of integrating advanced technology into healthcare, simplifying the user experience and making healthcare more accessible. The company has recently focused on expanding its virtual care services, allowing members to access medical professionals remotely. This innovation ensures that Oscar Health can provide continuous and efficient care, especially in times of increased demand for remote services.
Financial Condition and Partnerships
Backed by a renowned set of investors and advisors, Oscar Health has shown a robust financial standing. The company continues to invest in technology and expand its offerings, consistently looking for ways to improve and innovate. Collaborations with healthcare providers, technology firms, and other strategic partners have been pivotal in supporting its growth and enhancing service delivery.
Significance in the Industry
Oscar Health stands out in the healthcare industry for its commitment to improving the consumer experience. By focusing on user-centric design and data-driven solutions, the company addresses the frustrations many users face in the traditional healthcare system. This mission-driven approach has positioned Oscar Health as a disruptive force in the industry, dedicated to making healthcare more efficient, personalized, and accessible.
Oscar Health (NYSE: OSCR), a leading healthcare technology company, has announced its participation in three upcoming healthcare conferences in September 2024:
- 2024 Wells Fargo Healthcare Conference: CFO Scott Blackley to speak on September 4 at 12:45 p.m. ET
- Morgan Stanley 22nd Annual Global Healthcare Conference: CEO Mark Bertolini to speak on September 5 at 1:50 p.m. ET
- Baird 2024 Global Healthcare Conference: CFO Scott Blackley to speak on September 11 at 2:35 p.m. ET
All presentations will be available via live webcast on Oscar's investor relations website, with replays accessible for 90 days after each event. This series of presentations provides an opportunity for Oscar Health to offer business updates and insights to investors and industry professionals.
Oscar Health (NYSE: OSCR) reported strong Q2 2024 results, with total revenue of $2.2 billion, up 46% year-over-year. The company saw improvements in key metrics:
- Medical Loss Ratio improved 90 bps to 79.0%
- SG&A Expense Ratio improved 260 bps to 19.6%
- Net income of $56.2 million, or $0.20 EPS, a $71.7 million improvement
- Adjusted EBITDA of $104.1 million, a $68.6 million improvement
Based on strong performance, Oscar raised its full-year 2024 outlook:
- Revenue projected at $9.0-$9.1 billion
- Adjusted EBITDA projected at $160-$210 million
- Lower SG&A Expense Ratio of 19.75-20.25%
- Slightly higher Medical Loss Ratio of 80.5-81.5%
Oscar Health, Inc. (NYSE: OSCR), a prominent healthcare technology company, is set to release its financial results for the second quarter of 2024 on Wednesday, August 7, 2024, before the market opens. Management will hold a conference call to discuss the results starting at 8:00 AM (ET). The live call can be accessed by dialing (888) 596-4244 using Conference ID 776-8132, and a webcast will be available. The call will also be archived on Oscar’s investor relations website for 90 days following the event.
Oscar Health, a healthcare technology company, will participate in the BofA Securities 2024 Global Health Care Conference. Chief Financial Officer, Scott Blackley, will present a business update on May 15, 2024. Interested parties can listen to the webcast on Oscar's investor relations website.
Oscar Health, Inc. announced its financial results for the first quarter of 2024, reporting total revenue of $2.1 billion, a 46% increase year-over-year. The company achieved positive net income of $177.4 million, with diluted earnings per share of $0.62. Key metrics like Medical Loss Ratio and SG&A Expense Ratio showed significant improvements. Adjusted EBITDA improved by $168.2 million year-over-year. The company reaffirmed its full-year 2024 outlook across all metrics.
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