Clover Assistant AI tool now available to payers, providers

Clover Health’s AI tool for clinical decision-making, Clover Assistant, will be sold as a software-as-a-service (SaaS) to payers and providers.

Under the new name Counterpart Assistant, the platform will be available to all of Clover's Medicare Advantage (MA) payers and providers to minimize healthcare costs.

“The new offering will employ a hybrid SaaS and shared-savings model, with options for full capitation,” according to a news release.

CEO Andrew Toy hinted at the strategic shift in a LinkedIn post during the Bank of America Healthcare conference. He said he's been asked if there is potential for Clover Assistant providers to use the tool for any payer, and to bring Clover Assistant to markets where Clover is without a Medicare Advantage plan.

Expanding the capabilities of Clover's AI tool would lead to a lower per-life customer acquisition cost and allow physicians to use one tool for all MA patients. It would be supported through per member per month recurring revenue models, he added.

“Because of our insurance background, we’d also be very comfortable taking value-based risk,” said Toy. “And most importantly, we’ll be improving patient health outcomes by giving as many physicians as possible access to data and AI for the purpose of managing chronic disease.”

Of members with at least one visit that used the tool, 37% are more likely to have had their blood pressure controlled, 21% are more likely to have a colorectal screening and 12% are more likely to have had a breast cancer screening, according to Clover subsidiary Counterpart Health’s website.

Last quarter, Clover Health recorded a net loss from continuing operations to $23.2 million and announced a share repurchase program of up to $20 million over the next two years.