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Clover Health Reports Third Quarter 2021 Financial Results Total revenue was $ 427.2 million , up 153 % year - over - year , enabled by a wide , open network designed to serve all Medicare lives Lives under Clover Management increased 125 % year - over - year GAAP Medicare Advantage ( MA ) Medical Care Ratio ( MCR ) improved by 850 basis points compared to the prior quarter MA PPO plan focused on underserved communities and offering a wide provider network was awarded 3.5 Stars Clover provides preliminary 2022 MA guidance : Average MA Lives of 82,000 , up 20 % plus year - over - year , and MA MCR in the range of 95 % to 99 % NASHVILLE , Tenn . , November 8 , 2021 ( GLOBE NEWSWIRE ) -- Clover Health ( Nasdaq : CLOV ) ( " Clover " or the " Company " ) , a next - generation healthcare company focused on improving health outcomes for America's seniors , today reported financial results for the third quarter of 2021. Management will host a conference call today at 5:00 p.m. ET to discuss its operating results and other business highlights . " Our mission is to improve every life ; we do so by providing access to care across a wide , open network , which is supported and enabled by our technology platform , the Clover Assistant . We serve a broader variety of communities than is typical in MA - approximately 66 % of our members live in communities in the top half of the area deprivation index and approximately 49 % of our members who self - identify are minorities - and we are proud that we have been identified as a high - performing MA plan based on a prototype of the Health Equity Summary Score , " said Clover Health CEO Vivek Garipalli . " Clover's wide network and the Clover Assistant platform helped drive record growth , which was complemented by a significant decrease in MCR . We are also pleased that our wide network PPO , designed so that one day we can provide care to everyone in the Medicare market , was recently upgraded to 3.5 stars . As we look forward to 2022 , we believe our solid execution will lead to continued rapid growth of Lives under Clover Management and lower MCR through enhanced operational efficiencies and improved clinical care . " Andrew Toy , President and CTO of Clover Health added , " As the Clover Assistant evolves , we believe it will continue to drive better outcomes for all constituents - physicians , patients and the government . To this point , in the third quarter , MA members with a PCP live on Clover Assistant had an MCR that was more than 1,000 basis points lower than members who did not . Further , our internal data suggests that the longer a PCP uses the Clover Assistant for care management , the lower the MCR of their patients . This is evident in our data year - over - year over the past several years . " Management Commentary on Financial Highlights " Clover continues to scale with a current annual revenue run rate of $ 1.7 billion . We expect our strong growth to continue , " said Clover's Interim CFO Mark Herbers . " At the same time , Clover is making significant strides in its planning towards achieving profitability , and we expect to see tangible progress towards that goal in 2022 by focusing on leveraging the synergies of our physician - centric approach across multiple business lines , driving operational efficiencies with partners and vendors , and by automating more of our processes . " 1