BOSTON – (BUSINESS WIRE) – October 18, 2021–
The Boston-based Commonwealth Care Alliance® (CCA) will introduce one of the country’s most innovative models of care to hundreds of thousands of eligible people in the Midwest and Western United States, through several transactions, the acquisition of California’s Vitality Health Plan and a controlling stake in Michigan Reliance Health. The acquisitions follow CCA’s entry into Rhode Island, where CCA plans are now available for the first time, and new Medicare Advantage offerings in Massachusetts.
The entries in three new states and the additional offerings in Massachusetts mark the initial realization of CCA’s long-term growth strategy to achieve mission-driven geographic diversification. CCA is nationally recognized for its proven expertise in the coordination and delivery of complex care.
“This expansion gives us strong positions in new markets and strengthens our position in Massachusetts where we can advance our vision of transforming the nation’s healthcare for those with greatest needs,” said Chris Palmieri, President and CEO of CCA. “There is a clear demand for choice in healthcare for people who have always been offered extremely limited options, and we are excited to bring our pioneering, proven and perfected model of care to people in need for the first time. California, Michigan and Rhode Island. “
In California, CCA acquires Vitality Health Plan of California, which includes two Medicare Advantage plans primarily in Santa Clara and San Joaquin counties. In Michigan, the CCA reached a deal to acquire a controlling stake in Reliance Healthcare, including its Medicare health plan and ACO assets, as well as an organization of 600 physicians, which serves people in seven southern counties. is state. The acquisition of a majority stake in Reliance is expected to be finalized before the end of 2021.
CCA has begun the process of obtaining all necessary regulatory approvals in California and Michigan, which will become the third and fourth states served by the company. The CCA is also entering Rhode Island this year with Medicare Advantage plans designed to meet the needs of people who often live with chronic illnesses and face multiple social or medical needs.
Mission-based and person-centered, CCA is a fully integrated payer and provider with a singular focus on sustainable, evidence-based health care advancements that fill critical gaps in care and improve performance. health and well-being of people with significant needs.
CCA One Care, a Medicare-Medicaid (MMP) plan, is the fastest growing plan of its kind in Massachusetts and the country, the second MMP plan nationwide, and, for five consecutive years, has been one of the top rated MMPs in the country. in the Consumer Rating of Health Care Providers and Systems (CAHPS) survey administered by the Centers for Medicare and Medicaid Services (CMS). CCA Senior Care Options (SCO) received 5 stars – the highest rating – in the CMS Annual Quality Star Rating for 2022, and is one of the fastest growing such plans in the world. Massachusetts. Starting in 2022, CCA will complement its existing product offerings in its home state with new Medicare Advantage plans designed for people with significant needs who narrowly miss Medicaid income or asset thresholds.
With the acquisitions announced today, CCA will serve more than 62,000 people in four states. The organization is expected to report annual revenue of more than $ 2 billion for 2021 with significant cash flow and broad access to additional capital. Over the past 18 months, CCA has grown its workforce by nearly 18%, with 1,571 employees in June 2021. Demonstrating the culture of collaboration the organization has built, CCA was recently named Top Place to Work by The Boston Globe and ranked # 1 in the inaugural edition of the article titled ‘Better Workplaces: Diversity Edition’, due to the CCA’s commitment to making the workplace more diverse and more diverse. fair.
About Commonwealth Care Alliance
Commonwealth Care Alliance® (CCA) is an integrated system of care that has gained national recognition for its proven expertise in coordinating and delivering complex care with a focus on sustainable, evidence-based breakthroughs. A non-profit community payer and provider serving people with significant health needs, ACC’s uncommon care® model has been shown to be effective in addressing the social determinants of health, behavioral health and medical needs. not satisfied. Mission-based and people-centered, CCA has established itself in recent years as a national leader in innovating care for complex populations. For five consecutive years *, CCA One Care, the country’s fastest growing Medicare-Medicaid (MMP) plan, achieved the highest overall consumer experience rating; in 2020, CCA scored 93% and CMS rated CCA elder care options 5 out of 5 stars for 2022.
CCA is committed to fostering an inclusive environment, and its efforts have been recognized by The Boston Globe. In 2020, the CCA was recognized in The Boston Globe Top Places to Work rankings, and went on to be ranked first for The Boston Globe Top Places to Work: Diversity Edition, which builds on the company’s commitment to making the workplace more diverse and fairer. Learn more about CCA’s pioneering healthcare solutions and validated model of care at http://www.commonwealthcarealliance.org/ or follow CCA at Twitter and LinkedIn.
* Based on the 2016, 2017, 2018, 2019 and 2020 Consumer Assessment of Healthcare Providers and Systems (CAHPS) surveys.
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KEYWORD: MASSACHUSETTS CALIFORNIA RHODE ISLAND MICHIGAN UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: NURSING HEALTH PRACTICE MANAGEMENT OTHER HEALTH CARE GENERAL HEALTH
SOURCE: Commonwealth Care Alliance
Copyright Business Wire 2021.
PUB: 10/18/2021 2:27 PM / DISC: 10/18/2021 2:27 PM
Copyright Business Wire 2021.