The Iowa Clinic Partners with Counterpart Health for AI-Powered Healthcare Solutions

The Iowa Clinic Signs Multi-Year Agreement with Counterpart Health to Deploy Proven AI Technology to Hundreds of Providers Across the Midwest - Clover Health Investments (NASDAQ:CLOV)

FRANKLIN, Tenn., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Today, Counterpart Health, Inc. ("Counterpart"), a leading AI-powered physician enablement platform, announced a multi-year agreement with The Iowa Clinic, P.C., one of the most highly regarded multispecialty healthcare groups in the United States. This deal positions The Iowa Clinic as one of Counterpart's anchor customers in the Midwest, as Counterpart drives a broader strategic expansion across the country. Counterpart is a subsidiary of Clover Health Investments, Corp. CLOV ("Clover Health"). Founded in 1994, The Iowa Clinic is a benchmark for excellence in American healthcare, recognized as one of America's Top 100 Healthcare Providers by Becker's Hospital Review and a recipient of multiple Press Ganey Guardian of Excellence Awards for patient satisfaction. As the largest physician-owned multispecialty group in its community, with over 250 providers across more than 40 specialties, The Iowa Clinic is celebrated for its pioneering physician-governed, patient-centered model. It also has been recognized for its leadership in patient safety by the Leapfrog Group and quality care by the NCQA. The clinic is a frequent collaborator in national research and an early adopter of advanced diagnostic technologies, with its physicians regularly featured in Castle Connolly's list of America's Top Doctors. Renowned for its clinical expertise and commitment to innovation, The Iowa Clinic consistently delivers world-class, patient-centered care. Under the terms of the agreement, clinicians serving The Iowa Clinic's Medicare Advantage and Medicare Shared Savings Program patients will use Counterpart Assistant, Counterpart Health's cutting-edge cloud-based software platform. Additionally, the platform will be made available to The Iowa Clinic's clinically integrated network partners throughout the Midwest. Counterpart will receive a per-member, per-month fee, as well as potential incentive payments contingent on achieving certain care management goals. "Counterpart Assistant was engineered in one of the most challenging healthcare markets in the nation, attracting leading payors and provider groups dedicated to addressing the complex needs of patients in challenging markets," said Andrew Toy, CEO of Clover Health. "The Iowa Clinic stands at the forefront of innovative, value-based care solutions, and we are confident our technology will deliver substantial clinical value to the hundreds of physicians within this distinguished provider group, as well as their Medicare patients." "We take great pride in being a leader in the adoption of innovative medical technologies and treatments, always with the aim of elevating the quality of care our patients receive," said Ben Vallier, CEO of The Iowa Clinic, P.C. "Counterpart's ability to harness clinical data to drive improved outcomes, combined with its intuitive design that understands the needs of practicing clinicians, stood out among other potential solutions, and makes it a perfect fit for our organization. We are very optimistic about the immediate and long-term clinical and financial value it will bring to our providers and patients alike." Built on technology originally developed by Clover Health, Counterpart Assistant is an AI-enabled solution designed to seamlessly integrate into physicians' workflows, supporting earlier diagnosis and management of chronic diseases, and is currently used by over a thousand physicians as part of their daily workflow to enhance patient care. By leveraging real-time insights from more than a hundred data sources and utilizing over one hundred machine learning models, providers using Counterpart Assistant can identify, diagnose, and treat some of the most costly chronic diseases earlier. For example, Clover Health has seen over a 1,000 basis point medical cost ratio (MCR) differential between returning members of its Medicare Advantage plans whose primary care physicians (PCP) use Counterpart Assistant versus those members whose PCPs do not. As Counterpart's largest customer, the success of Clover Health's PPO-focused Medicare Advantage plans stand as a powerful testament to the value the technology can bring to plans and providers managing Medicare risk. For companies interested in learning more about how Counterpart can reduce the total cost of care in value-based care models through advanced chronic disease management, visit www.counterparthealth.com. About Counterpart Health Counterpart Health, a subsidiary of Clover Health Investments, Corp., or Clover Health, is a leading AI powered physician enablement platform. Counterpart Health's flagship software platform, Counterpart Assistant, was incubated by Clover Health as Clover Assistant and has helped improve plan performance and clinical outcomes for Medicare members through proprietary AI technology. Counterpart Health extends the benefits of the data-driven technology platform outside of Clover Health's Medicare Advantage plan to a wider audience, to enable enhanced patient outcomes and reduced healthcare costs nationwide. Clover Health has published data demonstrating the technology's impact on Medication Adherence, as well as the earlier identification and management of Diabetes and Chronic Kidney Disease. About The Iowa Clinic, P.C. Formed in 1994, The Iowa Clinic is the largest independent, physician-owned multi-specialty group in the Des Moines community with more than 250 physicians and healthcare providers practicing in 40-plus specialties. The organization's primary location is a 170,000 square-foot state-of-the-art medical facility located in West Des Moines. The Iowa Clinic has eight additional clinic sites throughout the Des Moines metropolitan area, as well as numerous outreach clinics in rural areas. The organization serves a population of 1.1 million patients averaging 450,000 visits per year. For additional information, visit iowaclinic.com. Press Contact: Andrew Still-Baxter [email protected] Investor Relations Contact: Ryan Schmidt [email protected] Market News and Data brought to you by Benzinga APIs

Clover Health stock rallies 22% post-market on Iowa Clinic deal (NASDAQ:CLOV)

Clover Health Investments (NASDAQ:CLOV) stock jumped 22% in post-market trading on news that subsidiary Counterpart Health had signed a multi-year agreement with healthcare provider group The Iowa Clinic. Counterpart said the deal will position The Iowa Clinic as one of its anchor customers in the Midwest as part of its broader strategy to expand nationwide. Under the agreement, clinicians serving The Iowa Clinic's Medicare Advantage and Medicare Shared Savings Program patients will be given access to Counterpart's AI-enabled cloud-based software platform, Counterpart Assistant. In return, Counterpart will receive a per-member, per-month fee plus potential incentive payments contingent on reaching certain care management goals, according to a statement. More on Clover Health Clover Health: A Profitable Future Ahead Fueled By AI And Star Rating Success Clover Health Investments, Corp. (CLOV) Q2 2024 Earnings Call Transcript Clover Health Investments, Corp. 2024 Q2 - Results - Earnings Call Presentation Clover Health hits 52-week high after $1M insider purchase Clover Health boosts 2024 insurance revenue outlook, lowers medical cost ratio range