Lumeris' Flagship Medicare Advantage Plan, Essence Healthcare, Acquires Stanford Health Care's Medicare Advantage Plan
Lumeris today announced its industry-leading, flagship Medicare Advantage plan, Essence Healthcare, has acquired a majority stake in Stanford Health Care Advantage ("SHC Advantage"). Under the terms of the agreement, Stanford Health Care, one of the nation's leading academic medical centers, will maintain a minority ownership position in the Medicare Advantage plan. Members will maintain access to the same benefits they have today as well as the current network of plan providers, including the world-class providers of Stanford Health Care.
"SHC Advantage provides essential care to seniors in our community, and this partnership with Essence Healthcare will further strengthen our ability to deliver affordable, high quality patient care to them," said David Entwistle, President and CEO of Stanford Health Care. "Members of the plan can look forward to enhancements in their member experience that will come with the transition."
Essence Healthcare, enabled by Lumeris' groundbreaking predictive analytics, innovative care delivery processes and population health technology, has earned national recognition by performing in the top 2% of all Medicare Advantage plans over the last 10 years. That success comes via the deployment of Lumeris' proprietary Collaborative Payer/Provider Model, which aligns incentives for providers, transparently shares data insights to all stakeholders, and provides seniors with the highest quality, most affordable healthcare options.
"Lumeris is thrilled to partner with Stanford Health Care to deliver high quality service, affordable care and improved health outcomes to seniors throughout Northern California" said Mike Long (News - Alert), CEO of Lumeris. "By jointly launching Essence Healthcare, powered by Lumeris' powerful population health capabilities, in the California market, Stanford Health and Lumeris are making a forceful commitmentto deliver the best care to the rapidly growing senior population and to pioneer the next-generation of healthcare in California."
Lumeris enables health systems to successfully deliver exceptional value-based care through its market leading population health solution - the PHSO (Population Health Services Organization). The PHSO is the best solution in the market for health systems looking to manage outcomes for Medicare, Medicaid, Commercial and Individual populations. Lumeris has partnered with leading health systems to deploy its PHSO to more than 1 million patients and 7,000 physicians, managing $10B of medical spend in 15 markets around the US. By providing health systems with a comprehensive value-based care delivery model, enabled by the industry's best predictive analytics and technology-enabled workflows, Lumeris' health system partners consistently deliver more accessible, higher quality, lower cost, sustainable health outcomes. To learn more about Lumeris, please visit www.lumeris.com.
ABOUT ESSENCE HEALTHCARE
Essence Healthcare leverages Lumeris' PHSO to produce quality and financial results that rank it in the top 2% of all MA plans over the last 10 years. The PHSO allows Essence Healthcare to be truly collaborative and aligned with providers to deliver an exceptional member experience with the industry's highest physician satisfaction. Serving over 65,000 members today, Essence Healthcare is expanding rapidly into new markets in the Mid-Atlantic, Midwestern, Southern and Western regions. To learn more about Essence Healthcare, please visit www.essencehealthcare.com.
ABOUT STANFORD HEALTH CARE ADVANTAGE
Stanford Health Care Advantage is a Medicare health plan currently offered to Medicare beneficiaries residing in Alameda, San Mateo and Santa Clara County. Built on the foundation of Stanford Health Care's long-standing expertise in care delivery, Stanford Health Care Advantage brings the advanced clinical capabilities of Stanford Medicine and the coordinated health care experience that Medicare beneficiaries expect and deserve.
ABOUT STANFORD HEALTH CARE
Stanford Health Care seeks to heal humanity through science and compassion, one patient at a time, through its commitment to care, educate and discover. Stanford Health Care delivers clinical innovation across its inpatient services, specialty health centers, physician offices, virtual care offerings and health plan programs.
Stanford Health Care is part of Stanford Medicine, a leading academic health system that includes the Stanford University School of Medicine, Stanford Health Care, and Stanford Children's Health, with Lucile Packard Children's Hospital. Stanford Medicine is renowned for breakthroughs in treating cancer, heart disease, brain disorders and surgical and medical conditions. For more information, visit: www.stanfordhealthcare.org.
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