Clover Health Investments, Corp. (NASDAQ: CLOV) announced that it has partnered with Kno2 and its subsidiary Counterpart Health to become the first payer live on a CMS‑aligned network and the Trusted Exchange Framework and Common Agreement (TEFCA). The collaboration enables Clover to respond in real time to patient‑directed requests for clinical and claims data using standardized FHIR (USCDI v3) formats, marking a milestone in nationwide interoperable data exchange.
The partnership leverages Counterpart Health’s bi‑directional interoperable platform, which already connects hundreds of data sources. Through Kno2’s routing, Clover can provide structured clinical and claims information to patients and providers, demonstrating the feasibility of real‑time, patient‑directed data access across the healthcare ecosystem. Clover plans to showcase the end‑to‑end response at HIMSS 2026, scheduled for March 10‑12, 2026, at Kno2’s booth (#12720).
Clover’s financial performance in the most recent reporting period underscores the company’s growth trajectory. Full‑year 2025 revenue reached $1.92 billion, up 40.3% from 2024, driven by expansion of its Medicare Advantage membership base. Q4 2025 revenue was $487.7 million, a 44.7% year‑over‑year increase, while the company posted a GAAP net loss of $85.5 million and an adjusted EBITDA of $21.7 million. These results reflect a mix of higher enrollment, pricing gains, and continued investment in technology and care delivery.
Management highlighted the strategic importance of the interoperability milestone. Jamie Reynoso, Clover’s CEO of Medicare Advantage, noted that real‑time data access “enhances member experience and supports our value‑based care model.” Andrew Toy, Clover’s CEO, emphasized the company’s confidence in its technology‑enabled approach to Medicare Advantage, while Kevin Holub, Chief Product Officer at Counterpart Health, explained that the platform’s AI‑driven insights are now available to a broader set of payers and providers.
By becoming the first payer live on a CMS‑aligned network, Clover positions itself as a leader in the emerging interoperability space, potentially opening the door for other payers to join the platform. The move expands Clover’s technology footprint beyond its Medicare Advantage plans and reinforces its identity as a technology‑enabled insurer, aligning with CMS’s broader goal of improving data exchange and patient empowerment across the healthcare system.
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