The nation’s largest Catholic and non-profit health system has teamed up with another provider to launch a new Medicare Advantage (MA) plan.
Centene Corporation and Ascension singed a letter of intent to explore the joint venture for their respective systems and affiliates beginning in 2020.
Centene is a multi-national healthcare company that provides both government sponsored and commercial healthcare program services, focused on under-insured and uninsured populations. Ascension is a faith-based organization and the nation’s largest non-profit health system and the world’s largest Catholic health system.
"We are pleased to pursue this joint venture with Ascension to create a differentiating offering for Medicare Advantage across multiple markets," Michael Neidorff, chairman and CEO of Centene, said in a statement. "This joint venture will bring together two leaders with decades of experience across markets and creates an opportunity for scaled payer-provider collaboration. We share a commitment of serving the underserved and intend to leverage the best capabilities of both organizations to provide high quality, affordable healthcare to support the needs of low-income seniors.
The announcement comes at a time when MA enrollment continues to swell and more major health systems plan to launch their own plans. However, less than a third of executives planning to launch an MA plan feel confident their system can do it successfully, according to a recent poll.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."