CLEAR and Surescripts boost healthcare identity verification

ARLINGTON, Va. & NEW YORK - Surescripts, a leading health intelligence network, and identity platform CLEAR (NYSE: YOU) have reported significant improvements in healthcare provider identity verification and access through their collaboration. The joint case study, "Surescripts and CLEAR: Enhancing Provider Access & Security," demonstrates the benefits of their partnership in the healthcare ecosystem, particularly in achieving Identity Assurance Level 2 (IAL2) compliance.

The integration of CLEAR's technology has doubled the verification success rate for healthcare providers, achieving an 80% success rate compared to 41% with the previous system. This operational success is reflected in CLEAR's impressive 63.21% gross profit margin and strong market position, with the stock currently trading at $24.55. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. This enhancement is particularly noteworthy given the stringent requirements of IAL2 compliance. Additionally, the identity verification process is now 40% faster, replacing a complex, multistep procedure with a streamlined, one-time setup that includes instant verification via a selfie.

This efficiency has also led to a 50% increase in the number of providers completing onboarding, allowing them to begin their work more quickly. The improved process not only strengthens the protection of sensitive health information but also enables providers to focus more on patient care rather than administrative tasks.

According to Frank Harvey, CEO of Surescripts, the collaboration has strengthened security measures across their network while enhancing provider onboarding rates. David Bardan, GM & Head of Healthcare at CLEAR, emphasized the balance between strong security and a positive user experience, noting that a verified IAL2 identity can be reused for future actions.

The partnership comes in response to a growing need for robust security in the face of increasing risks to sensitive patient health information. In 2024, over 156 million Americans had their healthcare records compromised, underscoring the urgency of improved security measures.

CLEAR and Surescripts will further discuss the importance of IAL2 compliance and cybersecurity at the upcoming Health Evolution Summit on April 10, 2025.

This announcement is based on a press release statement, highlighting how the partnership between CLEAR and Surescripts is advancing healthcare identity security and provider access.

In other recent news, Clear Secure Inc. reported strong fourth-quarter earnings, significantly surpassing analysts' expectations. The company achieved an earnings per share (EPS) of $0.90, which was more than triple the forecasted $0.29. Revenue for the quarter reached $206.3 million, exceeding the anticipated $202.15 million. Despite these impressive results, Clear Secure's first-quarter guidance aligns closely with expectations, prompting analysts to maintain a cautious outlook. Stifel and Loop Capital both adjusted their price targets for Clear Secure to $26, maintaining a Hold rating due to the company's robust performance but cautious future outlook.

Clear Secure's revenue increased by 21% year-over-year, with total bookings also up by the same percentage. The company plans to phase out deep discount programs, anticipating financial benefits despite potential membership losses. Analysts have noted the importance of improving customer retention rates following the company's pricing adjustments. Clear Secure's management discussed ongoing partnerships, notably with American Express, and their impact on pricing strategies, which remains a point of investor focus.

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