Oscar Health Inc Stock Price, News & Analysis

Oscar Health, Inc. (NYSE: OSCR) has renewed and expanded its digital services agreement with Ciox Health, a Datavant company. Under this new arrangement, Oscar will utilize the Datavant Switchboard through Ciox to enhance clinical data access, improving turnaround time and reducing provider burden. The expanded agreement is projected to yield a 25% reduction in total spending for Oscar. Scott Blackley, Chief Transformation Officer at Oscar, expressed that Ciox is aligned with their objectives, driving significant cost savings. Ciox's Executive Vice President, Bill Horn, highlighted this partnership as a key to advancing digital healthcare data exchange, benefiting Oscar's members and financial performance.

Oscar Health, Inc. (NYSE: OSCR) will announce its first quarter 2023 financial results on May 9, 2023, after market close. A conference call will follow at 5:00 PM ET to discuss these results. Investors can join the call by dialing (877) 400-4403 with Conference ID 6577079. A webcast will also be available. Oscar Health, founded in 2012 and based in New York City, offers a technology-based health insurance platform serving over one million members. Its mission is to provide accessible and affordable healthcare.

Oscar Health (NYSE: OSCR) recently announced the approval of significant employment inducement awards for its new CEO, Mark T. Bertolini, totaling 10,320,000 Class A shares. This includes 2,866,666 restricted stock units vesting annually over three years and 7,453,334 performance-based RSUs. To mitigate dilution, founders Mario Schlosser and Joshua Kushner agreed to cancel their founders' equity awards. Additionally, the Board approved inducement awards for 19 new employees totaling 246,113 Class A shares with vesting terms based on continued employment. Oscar Health remains committed to its mission of affordable healthcare through innovation.

Oscar Health, Inc. (NYSE: OSCR) announced the appointment of Mark Bertolini as CEO, effective April 3, 2023. Co-Founder Mario Schlosser transitions to President of Technology, focusing on Oscar's tech platform. Bertolini, previously at Aetna, brings extensive healthcare leadership experience. The company reaffirmed its 2023 guidance and is set to release its Q1 earnings on May 9, 2023. The leadership change aims to enhance growth and profitability, with an emphasis on integrating technology in healthcare.

Oscar Health (NYSE: OSCR) has appointed Dr. Sean Martin, MD, as its new Chief Medical Officer, effective immediately. Dr. Martin, who joined Oscar in 2016, has significant experience in clinical leadership across various functions including affordability and population health. His focus will be on enhancing the quality of care and outcomes for Oscar’s members. His prior roles include Chief Medical Officer at Seremedi and CEO at Medifr. Oscar Health aims to provide accessible healthcare through a technology-driven platform, serving over one million members as of December 31, 2022.

Oscar Health, Inc. (NYSE: OSCR) has renewed its Pharmacy Benefit Manager agreement with CVS Caremark, aiming to enhance cost efficiency for its members. The new agreement, effective from 2023 and extending through 2026, focuses on continued access to CVS Caremark's pharmacy network while allowing Oscar to shape formulary design. Scott Blackley, Chief Transformation Officer, highlighted that CVS Caremark's offer aligns with Oscar's strategic goals of lower costs and enhanced service. This partnership, ongoing since 2012, aims to optimize Oscar's tech-enabled business model and improve member healthcare experience.

Oscar Health, Inc. (NYSE: OSCR) announced that Co-Founder & CEO Mario Schlosser and CFO Sid Sankaran will present at the Cowen 43rd Annual Health Care Conference on March 6, 2023 at 10:30 AM ET. The presentation will be accessible via a virtual webcast, with the link available in the announcement. Following the event, the archived call will be accessible on Oscar's investor relations website. Oscar Health is known for its technology-driven health insurance platform and commitment to enhancing member experiences.

Oscar Health, Inc. (NYSE: OSCR) announced on February 6, 2023, the approval of inducement restricted stock unit awards for 12 new non-executive employees, totaling 832,126 Class A shares. These awards are designed to attract talent under the 2022 Employment Inducement Award Plan and typically vest over one to three years, contingent on continued employment. Oscar Health, founded in 2012, focuses on providing health insurance through a technology-driven platform. The company aims to enhance healthcare accessibility and affordability, having gained over one million members as of December 31, 2022.