Clover Health Investor Presentation Deck
Clover's Wide Network Approach Supports High Growth And
A Large, Differentiated TAM
Medicare
Advantage
Original
Medicare
2019
14% CAGR
$530bn
$270bn
$590bn
PPO plans grew at a 13.9% (¹) '16-'21 CAGR, twice the
rate of 6.9%(¹) HMO plans grew
4% CAGR
2025E
Source for TAM data: CMS, Kaiser Family Foundation, L.E.K.
(1) CMS CPSC data from October 2016 October 2021.
(2) Note that DC only launched in April 2021.
$665bn
Conventional Approach
Driving growth via narrow network
HMOs faces headwinds going
forward
The lack of narrow networks and
traditional levers such as utilization
management make it more difficult
to enter the Original Medicare
market
Clover Approach
The Clover Assistant enables Clover to
support a wide network PPO, at lower
than HMO costs, and our revenue has
grown at a 37% '18-'20 CAGR
Technology-driven approach allows
Clover to enter any market
The Clover Assistant enables Clover to
rapidly scale across the Original
Medicare market via Direct Contracting
Within our first year of DC launch, OM
revenue went from $0 to $439mm YTD
through Q3 2021(²)
Clover is principally built on technology, not narrow networks, risk sharing arrangements, or brick
and mortar presence, which accelerates our ability to scale nationwide and gain particularly broad
access to the Medicare market, which is projected to be ~$1.25tn by 2025.
CO
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