Insurer GlobalHealth is teaming up with Evolent Health, a provider of integrated value-based care platforms, to launch and build out Medicare Advantage health plans.
The joint venture will offer MA plans under the True Health brand to high-performing providers that are prepared to take delegated risk for MA populations.
WHY THIS MATTERS
The deal is designed to help Oklahoma City-based GlobalHealth continue to grow in its home state while also tapping Evolent's network of providers to expand into new geographic markets. It enables Evolent to participate in the growing MA market--particularly in areas where providers lack access to new payer "value" models.
This move follows closely on the heels of similar activity. Earlier this month, for example, Stanford Health Care partnered with Lumeris, which develops technology for value-based reimbursement, to help the academic medical center expand its Medicare Advantage plan in Northern California.
Medicare Advantage is an increasingly important component of insurers' business model as the U.S. healthcare system faces the "Silver Tsunami" of aging Americans. Starting in 2030, older people will outnumber children for the first time in history, according to the U.S. Census Bureau. MA plans are popular among aging baby boomers, and a survey from last June revealed that 27 percent of major U.S. health system executives intend to launch a Medicare Advantage plan in the next four years.
ON THE RECORD
"With GlobalHealth and Evolent's infrastructure and expertise, provider organizations can now access a full suite of administrative and clinical capabilities as well as a financial partner in launching and scaling locally-based plans," said Evolent Chief Executive Officer Frank Williams. "True Health will serve a segment of providers that are seeking a clinically-driven, aligned model for launching and operating MA plans."
Mark Klimek is an independent writer and editor with 20 years' experience covering financial issues, healthcare and more.
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