Clover Health Investments Corp (CLOV) shares soared in after-hours trading on Tuesday, following the announcement of a multi-year agreement between its subsidiary, Counterpart Health, and The Iowa Clinic.
This strategic partnership will see Counterpart Health provide its cloud-based software platform, Counterpart Assistant, to clinicians serving The Iowa Clinic’s Medicare Advantage and Medicare Shared Savings Program patients. The platform is designed to seamlessly integrate into physicians’ workflows, offering AI-powered support for improved patient care.
Counterpart Assistant will also be made available to The Iowa Clinic’s integrated network partners across the Midwest, further expanding its reach. The agreement will see Counterpart Health receive a per-member, per-month fee, as well as potential incentive payments based on achieving specific care management goals.
Andrew Toy, CEO of Clover Health, expressed his enthusiasm about the partnership, stating that Counterpart Assistant was developed in one of the most challenging healthcare markets in the nation. He highlighted The Iowa Clinic’s commitment to innovative, value-based care solutions, emphasizing the platform’s ability to deliver significant clinical value to the clinic’s hundreds of physicians and their Medicare patients.
With over 1,000 physicians already using Counterpart Assistant in their daily workflows, the platform’s potential for positive impact is evident. This deal represents a significant step forward for Clover Health, demonstrating its commitment to providing cutting-edge healthcare solutions and solidifying its position in the evolving landscape of value-based care. The positive market reaction to the news, with CLOV shares surging by over 21%, further underscores the potential of this partnership to drive future growth and success for the company.
