Morgan Health invests $ 50 million in Vera Whole Health
Photo: Katleho Seisa / Getty Images
Morgan Health, the new company launched by JPMorgan Chase in May, is investing $ 50 million in Vera Whole Health, a primary care company that focuses on employer-sponsored coordinated care.
This is Morgan Health’s first investment in a coordinated care model.
The company is led by Dan Mendelson, CEO of Morgan Health, reporting to Peter Scher, Vice President of JPMorgan Chase & Co. and a member of the company’s operating committee. Morgan Health is headquartered in Washington, DC
Vera is working to move from traditional fee-for-service reimbursement to a global model to align financial incentives and reimburse primary care physicians for services that improve outcomes, according to Morgan Health.
Vera currently operates a network of advanced primary care centers supported by an integrated technology platform in Arizona, Washington, California, Oregon, Idaho, Alaska, Texas, Missouri, Kansas and Nevada. She recently partnered with Central Ohio Primary Care, one of the largest independent physician-owned primary care groups in the United States.
Vera’s model centers on comprehensive healthcare led by a team of primary care physicians, nurses and health coaches supported by clinics and an integrated technology platform. Coordinated care is also expected to address health equity issues.
Employers under contract with Vera saw an average net promoter score of 90 for patients and improved health outcomes and use, Morgan Health said.
WHY IT IS IMPORTANT
The goal of improving the quality, cost and equity of employee health care was the goal of Former Haven, a company founded by JPMorgan Chase, Amazon and Berkshire Hathaway.
Haven disbanded in January, but each of the company’s founders said they would use lessons learned from Haven in individual initiatives to improve the quality of healthcare while reducing costs for employees across the board. ‘company.
Morgan Health’s investment in Vera appears to be one such initiative.
THE BIGGEST TREND
Medicare and Medicaid have successfully implemented capitation models globally, but these models have not yet been made widely available to patients covered by employer-sponsored health plans, Morgan said. Health.
Morgan Health said it will look at a number of models for improving employee health and adapt them to both JP Morgan Chase and other employers and employees across the country.
Livongo founder Glen Tullman is also looking to overhaul the employer’s self-insurance business as CEO of Transcarent, a company that creates a digital platform “overlay” on existing plans.
ON THE RECORD
“Our goal with this first investment is to build a coordinated and strong healthcare model – with exceptional primary care and new ways to help employees navigate a healthcare system that is often very disconnected,” said Mendelson of Morgan Health, who will join Vera’s board of directors. at the closing of the transaction.
“We’re a perfect fit with Morgan Health to address health disparities,” said Ryan Schmid, CEO and co-founder of Vera. “Years ago, we built an advanced model of primary care that supports all of people’s health – physical, social and mental. This unique partnership will give us not only the opportunity to transform the way health care is delivered and paid for, but also to respond to the role that the determinants of health, including racial biases, play in our system. “
Email the author: [email protected]