At the moment, our U.S. healthcare system is fragmented, which “adversely impacts quality, cost, and outcomes. Eliminating waste from unnecessary, unsafe care is crucial for improving quality and reducing costs-and making the system financially sustainable,” says The American Journal of Managed Care (AJMC). fact, according to Canaccord Genuity analyst Richard Close, as quoted by Fierce Healthcare, “Studies have shown the value of primary care through lower healthcare spending and improved health outcomes. But there has been an underinvestment in primary care in the U.S. compared to other developed countries and there is a shortage of primary care providers.” That’s all beneficial news for primary care provider companies, such as Skylight Health Group Inc. (NASDAQ: SLHG) (TSXV: SLHG), Centene Corp. (NYSE: CNC), Humana Inc. (NYSE: HUM), Cano Health Inc. (NYSE: CANO), and Oak Street Health Inc. (NYSE: OSH).
Look at Skylight Health Group Inc. (NASDAQ: SLHG) (TSXV: SLHG) For Example
Skylight Health Group Inc., a multi-state primary care management group in the United States, today announced a joint venture (“JV”) partnership with Collaborative Health Systems (CHS), a population health management services organization and wholly owned subsidiary of Centene Corporation (NYSE: CNC), to integrate essential value-based care (VBC) services into Skylight Health’s growing enterprise of primary care practices.
The primary goal of the partnership is to establish the core necessities of a VBC program, which includes joint efforts in payor contracting, taking on risk within Medicare Advantage, and population health improvement, including data and analytics supporting care coordination and quality improvement programs. Denver, Colorado Springs, Harrisburg, and Jacksonville will be the initial markets to participate.
Among the highlights:
- Skylight Health and CHS will partner to establish a VBC contracting framework across Florida, Pennsylvania, and Colorado
- Each state’s network of practices will benefit from strategic growth and planning, in Medicare fee-for-service ACOs, and Medicare Advantage, served through both Skylight Health and CHS
- The partnership combines CHS success in improving quality outcomes and lowering healthcare costs with Skylight’s aggressive growth within independent primary care practices
Overall, the joint venture will benefit from Skylight Health’s Medicare lives served in addition to CHS’ demonstrated ability to manage downside risk. Together, the joint venture allows further entry into value-based care services as a larger contracting entity providing better clinical outcomes as well as improved patient quality scores and satisfaction. The partnership will manage all components of the competencies required to manage risk, allowing for Skylight Health to enter risk-bearing contracts with payors while also supporting Skylight’s practice growth strategy as affiliates seek larger, more robust partnerships.
“Collaborative Health Systems has been at the forefront of profitably executing on value-based care, having generated over $475 million in Medicare savings since 2012,” said Prad Sekar, CEO & Co-Founder of Skylight Health. “This partnership enables us to leverage the scale, infrastructure, and expertise of CHS, allowing us to fast-track our timeline of value-based contracts by approximately 24 months.”
“At Collaborative Health Systems, we are dedicated to improving quality outcomes and delivering cost savings with our provider partners,” said Anthony Valdés, President of Collaborative Health Systems. “We look forward to working with Skylight Health to improve quality, lower costs, and help Skylight’s physicians thrive in value-based care.”
The Company news in this release augments the previous announcement of participating as a direct contracting entity (DCE) under a license of a leading national healthcare organization in 2022; the Company intends to proceed under the arrangement in 2023 as part of CMS’ recently announced transition of the DCE program to ACO REACH.
Other related developments from around the markets include:
Centene Corp. issued a reminder that it will release its 2022 first quarter financial results at approximately 6 a.m. (Eastern Time) on Tuesday, April 26, 2022, and will host a conference call afterwards at approximately 8:30 a.m. (Eastern Time) to review the results.
Humana Inc. has started to transition Kindred at Home’s home health division to the CenterWell Home Health opens new window brand. The brand transition represents a major step in the full integration of Kindred at Home’s home health operations into Humana. Last August, Humana announced that it had completed the acquisition opens new window of Kindred at Home (KAH) to reinforce its commitment to invest in home-based clinical solutions that can improve patient outcomes, increase satisfaction for patients and providers, and create value for health plan partners.
Cano Health Inc., a leading value-based primary care provider and population health company, announced financial results for the fourth quarter and full year ended December 31, 2021. “Cano Health’s fourth quarter results reflect the continued positive momentum in the growth of our operations,” said Dr. Marlow Hernandez, Chairman and CEO of Cano Health. “We exceeded our most recent membership guidance and expanded our clinical capacity in eight states and Puerto Rico, allowing us to accelerate growth in 2022. Since founding the company over 10 years ago, I have never been more excited about what the Cano Health team is going to accomplish this year.”
Oak Street Health Inc. a network of value-based primary care centers for adults on Medicare and the only primary care provider to carry the AARP name, is now welcoming patients at the new East Mesa center at 2850 E Main Street, Ste. 106 in Mesa, Arizona. This is Oak Street Health’s second center in Arizona. The Company plans to open additional new centers throughout the greater Phoenix area and Tucson in 2022. “We are thrilled to open our East Mesa center and begin delivering an unmatched patient experience and improving health outcomes for older adults in the community,” said Dr. Patrick Vinck, Regional Medical Director at Oak Street Health. “At Oak Street Health, we are committed to providing the highest quality care to meet the individual needs of our patients and we are excited to bring our innovative healthcare model to the area.”
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