Five takeaways:
1. Clover reported $1.47 billion in year-end revenue and $432 million in fourth quarter revenue, marking 119 percent and 160 percent increases, respectively.
2. However, the payer saw year-end profits continue to sink. Clover reported a $136 million loss in 2020, which grew 330 percent to a $588 million loss in 2021.
3. Medical care ratios dipped slightly year over year, down to 94.5 percent for all of 2021 and 96.7 for the fourth quarter.
4. Enrollment shot up 223 percent year over year to 129,996 members. The payer’s Medicare Advantage enrollment grew 17 percent year over year to 68,120 members.
5. Moving into 2022, Clover anticipates year-end revenues to be between $3 billion and $3.4 billion. About $2 billion of the anticipated revenue will come from direct contracting, with the remainder coming from Medicare Advantage enrollment.
