Clover Health Rockets after Wednesday Tumble

Clover Health Investments (NASDAQ:CLOV) rose Thursday, after tumbling around 24% on Wednesday. Part of the impetus of this strength came from links with Upward Health.

Upward Health, a leading in-home medical and behavioral primary care provider, today announced a new Preferred Provider relationship with Clover to serve patients with complex medical, behavioral, and social challenges through Clover’s in-home primary care program, Clover Home Care.

The effort was launched shortly after Clover was identified as a participant in CMS’ new Direct Contracting initiative, which is designed to improve health-care quality and contain costs for beneficiaries with Original Medicare.

As Clover scales Clover Home Care through Direct Contracting, the company has contracted with Upward Health to provide integrated home-based medical and behavioral care for aligned beneficiaries with complex needs in the States of New York, Pennsylvania, Georgia, and Texas.

Said Chief Scientific Officer Dr. Kumar Dharmarajan, "We believe Upward Health delivers a truly holistic, integrated home-based model combining medical, behavioral and social support for high risk beneficiaries.

"Clover is focused on reducing costs through improved health outcomes, and scaling home-based care for our most vulnerable beneficiaries through CMS’ Direct Contracting model is a key component of our strategy."

Clover Health is a next-generation insurance company dedicated to achieving health equity for all Americans. While our mission is to improve every life, we particularly focus on seniors who have historically lacked access to affordable high quality healthcare.

CLOV shares climbed 79 cents, or 4.7%, to $17.71.