This Heath Insurance Startup Wants To Become The Largest Healthcare Company In The US

Clover Health, a health insurance startup that provides Medicare Advantage plans to seniors in the state of New Jersey, has ambitious plans.

According to a Wall Street Journal report, Clover Health is looking to raise $120 million in funding, which would value the company at more than $1 billion. The company would earn the coveted "unicorn" title but that isn't enough, as it wants to become "the largest healthcare company in the U.S."

In fact, Clover Health is one of the few startups bold enough to not only launch a healthcare business, but do so in a highly regulated climate that requires lots of capital outlays.

Nevertheless, the company has financial backers lined up. Greenoaks Capital Management led Clover Health's $160 million financing round last year at a $820 million valuation and is expected to lead the new round.

Clover Health's Advantage

WSJ explained that Clover Health applies leading technologies to its business. Specifically, its goal is to analyze data from labs, claims and social factors to compile a list of patients that are most at risk so it can provide early care.

The company also uses advanced software to improve coordination of care and also offers customers key advantages such as zero copays to gain new members.

Moreover, Medicare Advantage plans offer individuals higher levels of government reimbursements and a clearer picture of the risk pool of members it covers.

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