Ohio-based healthcare provider the Cleveland Clinic has entered the insurance market, with the launch of a number of branded policies in partnership with New York-based insurer Oscar Health. Under the "narrow-network" system, policy-holders will only have access to services from the clinic's own doctors and hospitals. The provider will share the financial risk with Oscar Health. In an interview on CNBC's Squawk Box, CEO Mark Bertolini said that he expects the new policy model to be popular among patients who are looking for more affordable health insurance.
Ohio-based healthcare provider the Cleveland Clinic has entered the insurance market, with the launch of a number of branded policies in partnership with New York-based insurer Oscar Health. Under the "narrow-network" system, policy-holders will only have access to services from the clinic's own doctors and hospitals. The provider will share the financial risk with Oscar Health. It has also partnered with the Kentucky-based insurer Humana to offer policies with no monthly premiums to patients on Medicare and Medicaid assistance programmes.