Oscar Health Inc Stock Price, News & Analysis

Oscar Health, Inc. (NYSE: OSCR) is scheduled to release its Q1 2022 financial results post-market on May 10, 2022. A conference call will follow at 5:00 PM ET to discuss the results, accessible via phone or webcast. Oscar, established in 2012, is a tech-driven health insurance company serving over one million members as of January 2022. The company focuses on accessibility and affordability in healthcare, offering various insurance plans, including Individual, Family, Small Group, and Medicare Advantage plans.

Oscar Health (NYSE: OSCR) will host a virtual investor day on March 25, 2022, at 9:00 AM ET. Management will discuss the company's 2021 performance, vision, strategic plans, and guidance for fiscal 2022. Oscar, established in 2012, leverages a technology platform to provide insurance services, serving over one million members as of January 2022. For further details, investors can access the investor relations website for more information on this event.

Oscar Health, Inc. (NYSE: OSCR) announced that Co-Founder & CEO Mario Schlosser will present at the Cowen 42nd Annual Health Care Conference on March 9, 2022, at approximately 9:50 AM ET via a virtual webcast. This event will highlight Oscar's innovative approach to health insurance, focusing on technology and member service. As of January 2022, Oscar has earned the trust of over one million members. The event will be archived on Oscar's investor relations website.

Oscar Health reported robust growth in its financial results for the year ending December 31, 2021. Membership surged to 598,169, marking a 49% year-over-year increase. Direct and assumed premiums reached $3.44 billion, a 50% rise, while earned premiums skyrocketed by 302% to $1.83 billion. Despite a net loss of $571 million, an increase of $165 million YoY, the company reaffirmed its 2022 outlook, projecting premiums between $6.1 and $6.4 billion, reflecting an over 80% increase. The company's focus on efficiency and improvement in administrative costs indicates a strategic approach to profitability by 2023.

Oscar Health (NYSE: OSCR) and Centrum Health announced a collaboration to enhance healthcare access for Oscar's Individual & Family plan members in Miami-Dade County. Members can utilize various Centrum Health Clinics across multiple locations in Miami and Hialeah. Oscar's innovative care model is aimed at connecting members with high-quality providers, while Centrum Health employs evidence-based guidelines to improve healthcare affordability and quality. Oscar currently serves approximately 594,000 members, showcasing its commitment to a member-first philosophy.

Oscar Health projects substantial growth for 2022, estimating premiums between $6.1 billion and $6.4 billion, a year-over-year increase of over 80%. The company reports over one million members and a $305 million capital raise to bolster its balance sheet. Despite the growth, Oscar expects an Adjusted EBITDA loss of $380 million to $480 million. The new Adjusted Administrative Expense Ratio aims to provide clearer profitability insights as the company continues to focus on enhancing member experience across key markets.

Oscar Health, Inc. (NYSE: OSCR) has launched an enhanced Cost Estimator Tool designed to improve healthcare spending transparency for its members. This upgraded tool provides real-time, personalized cost estimates based on individual plan details rather than general averages.

With increasing concerns about affordability, over half of Oscar members favor knowing medical costs upfront. The tool is now available on mobile and has been translated into Spanish, ensuring broader accessibility. Oscar continues to prioritize member experience through its full-stack technology platform.

Oscar Health recently reported a data incident involving the personal information of select members due to a mailing error from a vendor between 10/28/2021 and 11/16/2021. Information potentially disclosed includes names, Oscar ID numbers, claim numbers, and provider details, but excludes Social Security numbers or financial data. Oscar promptly began an investigation and has taken corrective actions. Affected members are being notified. The company remains committed to safeguarding personal information.

Oscar Health announced the appointment of Ranmali Bopitiya as the new Chief Legal Officer, effective January 31, 2022. Bopitiya, who has two decades of experience in healthcare, will join Oscar's leadership team and report to CEO Mario Schlosser. She previously served as Chief Legal Officer at Everside Health and has held significant roles at Kaiser Permanente and Stanford Health Care. Her expertise aims to enhance Oscar's mission of improving access to high-quality, affordable healthcare.