While this may not seem like much compared to UnitedHealth Group, which is valued at $114 billion, or Aetna, which is valued at $37.75 billion according to Wired, Oscar Health is a less than two-year-old startup that provides insurance only in New York and New Jersey so far. What is more, a $1.5 billion valuation means Oscar has more than tripled its valuation since last January, according to Insurance & Financial Advisor Web News.
CEO and co-founder Mario Schlosser said Oscar now generates approximately $200 million in annual revenue, according to the report. Oscar plans to bring its brand of design-conscious, tech-enhanced insurance to other cities with the funding raised in this round.
Oscar aims to offer patients a unique kind of health insurance that includes telehealth services, fitness trackers, free checkups and improved user experience.
More articles on payer issues:
Neighborhood Health Plan will stay with Partners HealthCare
UnitedHealth posts $1.4B profit for Q1
Anthem makes ‘unheard of’ offer to hospitals
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
