Instacart Ties Up With Adonis For Health Plan Billing: Retail Sentiment Lags

Shares of Instacart (CART) rose more than 1% in after-hours trading on Tuesday after the company entered a partnership with Adonis, a revenue cycle management provider, to streamline billing for its health nutrition programs, but retail sentiment remained subdued.

Through this partnership, Instacart will streamline its billing operations and have access to an “intelligent” revenue cycle technology to work with health plans helping communities and individuals gain access to healthy foods, according to a statement.

Instacart will be able to use Adonis to submit claims for certain health programs across the country as part of Medicaid Section 1115 waivers and ‘In Lieu of Services’ (ILOS) provisions, added the statement.

"Through Instacart Health, we want to make it easier for health plans to offer food as a covered benefit, ensuring more people can access the nutritious foods they need to support their health," said Sarah Mastrocco, VP and general manager of health at Instacart.

“By investing in our health infrastructure, we're not only simplifying the process for health plans – we're seamlessly supporting all customers on their personalized health journeys."

Sentiment on Stocktwits ended Tuesday in the ‘neutral’ zone compared to ‘bearish’ a week ago. Message volume was in the ‘extremely low’ zone.

CART sentiment meter and message volume on March 17.

One watcher noted a 200 simple moving average for the stock.

Separately, Instacart has made tech investments such as “Smart Shop” using generative AI and machine learning to create a “more personalized grocery shopping experience, along with the launch of AI-powered health tags, which provide detailed and transparent nutritional information.

Instacart stock is down 3% year-to-date.

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