Oscar Health, Inc. (NYSE: OSCR) recently witnessed a notable upswing in its stock value during pre-market trading, where its share price rose by 1.60% to reach $5.07, following a 1.97% dip to $4.99 during the regular trading session. While this surge occurred without any immediate news catalyst, the company’s upcoming developments are expected to shed more light on its performance.
Oscar Health (OSCR) made a significant announcement regarding its strategic expansion plans for 2024. This marks the eleventh consecutive year that Oscar has been a prominent player in the ACA marketplace. Their expansion efforts aim to extend their innovative and member-centric healthcare plans to an additional 165 counties, thereby improving access to high-quality and affordable healthcare for a wider consumer base.
Starting in 2024, Oscar Health is poised to establish a presence in 18 states, spanning 512 counties. This ambitious expansion drive is designed to enhance healthcare accessibility, particularly in underserved and rural markets, leveraging Oscar’s consumer-focused technology platform.
Oscar is introducing novel approaches to cater to its increasingly diverse and expanding member population. These innovative measures include tailored plan designs, with a strong emphasis on guiding and engaging members dealing with chronic illnesses. Additionally, Oscar is enhancing its offerings for Spanish-speaking members, aiming to provide inclusive and culturally sensitive healthcare options.
Oscar Health offers the “Breathe Easy” plan, catering to COPD and asthma sufferers with benefits like specialized medical visits, rehabilitation, oxygen services, and financial incentives for checkups. Their “Diabetes Care” plan supports diabetic members with low-cost services, including $0 primary care visits and unlimited testing supplies, resulting in improved health metrics.
Oscar is expanding its Hispanic and Latino membership base through the “HolaOscar” program, providing culturally authentic experiences and access to Spanish-speaking healthcare providers. This program, with a net promoter score of 72, significantly surpasses the industry average and offers access to the “Diabetes Care” and “Breathe Easy” plans in select states.
Oscar Health’s strategic initiatives reflect its commitment to innovation, inclusivity, and accessibility in the healthcare sector, with a focus on improving the well-being of its diverse member base.
