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New York payer Oscar faring better in 2017, losses down $22.7M: 5 things to know

New York insurer Oscar has a more positive outlook after narrowing its losses this year, according to Bloomberg.

Here are five things to know:

1. During the first three months of 2017, Oscar's losses totaled $25.8 million. This figure is down from $48.5 million losses during the same period of 2016.

2. Oscar increased its premiums for 2017 following major 2016 losses. The payer also limited its network of New York physicians and hospitals to control costs.

3. Despite the gains this year, Oscar's membership decreased to 90,171 enrollees as of March 31. This time last year, membership was at 106,000 people.

4. Oscar exited New Jersey and some Texas markets this year, which may slow the payer's growth.

5. New York is the payer's largest revenue driver, bringing in $38,632,556 this year.

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