«Breaking News» Insider Q&A: Oscar CEO on insurers and patient health

If you're unhappy with how health care works, you could just start an insurance company.

That's essentially what Mario Schlosser did in 2012 after he grew frustrated navigating the system when his wife delivered their first child.

Six years after Schlosser, a data scientist, co-founded Oscar Health, his New York-based insurer covers about 250,000 people, many in big markets like New York and California.

Oscar has grown by emphasizing online tools and apps and taking some unique approaches to coverage. It assigns each customer to a six person "concierge team" that aims to quickly answer questions or find available doctors, among other tasks.

The 40-year-old Schlosser, Oscar's CEO, spoke recently with The Associated Press. The conversation has been edited for clarity and length.

Q: What was the biggest need you saw in a market already packed with insurers?

This undated photo provided by Oscar Health shows Mario Schlosser, CEO of the health insurer Oscar. Six years after Schlosser, a data scientist, co-founded Oscar Health, his New York-based insurer covers about 250,000 people, many in big markets like New York and California. Oscar has grown by emphasizing online tools and apps and taking some unique approaches to coverage. (Oscar Health via AP)

A: Nobody is really accountable for truly helping navigate health care and make it less complex and less costly. And I thought that the insurance company should play a major role in that because ultimately the insurance company is responsible for your end-to-end care.

Q: How does that team improve health?

A: Connecting the dots better, making sure you stay up to date with how you best manage your health. They can see if you are filling (a prescription), and they will reach out to you if you are not. They will try to make sure you can get access to the drugs that you need. If we are helpful in the background ... we think it's going to help your long-term health.

Q: Oscar's coverage uses narrow networks of doctors and other providers in part to keep costs down. What would you tell a customer who gets cancer and finds that the most experienced doctor for her condition isn't in your network?

A: We have a number of concierge teams that are dealing only with members who have the most complex conditions. Those teams are directly assigned to making sure that you've got what you need. That can include pulling in providers who we did not work with in the past.

Q: Enrollment for the Affordable Care Act's insurance exchanges starts Nov. 1. What have you learned about making that business viable?

A: Every provider in the market, every insurance company basically faces members voting with their feet as to whether they like the service at the price. That creates very powerful pressures on all of health care to be more innovative, be more nimble, more member-focused.

Q: Oscar raised $165 million earlier this year from private investors, and you are growing. Is a public offering of your stock on the horizon?

A: Nothing planned right now.

To be continued

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Main photo article If you’re unhappy with how health care works, you could just start an insurance company.
That’s essentially what Mario Schlosser did in 2012 after he grew frustrated navigating the system when his wife delivered their first child.
Six years after Schlosser, a data scientist,...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

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