Anthem completes acquisition of MMM Holdings from InnovaCare Wellbeing

Photo: Martin Barraud/Getty Visuals Overall health insurance provider Anthem has formally completed its acquisition of…

Photo: Martin Barraud/Getty Visuals

Overall health insurance provider Anthem has formally completed its acquisition of Puerto Rico-based MMM Holdings and its Medicare Gain strategy MMM Health care, as well as its affiliated organizations and Medicaid prepare. 

Anthem obtained MMM from InnovaCare Wellbeing, an built-in, worth-based mostly payer and service provider assistance corporation.

Fiscal conditions of the transaction have been not disclosed.

What’s THE Impact?

MMM is the ninth-largest MA prepare in the nation and Puerto Rico’s second-greatest Medicaid strategy, boasting extra than 275,000 MA users and over 314,000 Medicaid customers. It represents the greatest MA plan in Puerto Rico and will allow Anthem to extend its industry presence on the island.

Representatives from the organizations explained by means of statement that Anthem and MMM are strategically aligned, particularly as it pertains to full-particular person wellbeing, with MMM’s provider community and wholly-owned independent medical professional associations Castellana Doctors Companies and general public health administration.

With each other, MMM’s community includes more than a dozen places of work and much more than 10,000 health care providers across the island.

MMM holds the only 4.5-Star MA agreement in Puerto Rico from the Facilities for Medicare and Medicaid Providers

THE More substantial Trend

Insurers are accomplishing well in the Medicare Benefit sector, and people also like the plans that arrive with additional added benefits to initial Medicare. A Medicare Gain analyze revealed in December discovered that far more customers selected MA plans for 2021 thanks to the plans’ supplemental positive aspects, including people for telehealth and COVID-19.

ON THE Report

“We are delighted to full the acquisition of MMM and get the job done with our new colleagues to provide Medicare and Medicaid-eligible folks and consumers in Puerto Rico,” mentioned Anthem president and CEO Gail K. Boudreaux. “With our eyesight to be an revolutionary, beneficial and inclusive health care partner we stay fully commited to boosting their health care encounter by supplying products and services that generate higher value and fulfill their numerous demands.”

“We are pleased to officially bring MMM into the Anthem relatives mainly because we share a commitment to becoming a life span husband or wife in overall health to the persons we provide,” claimed Felicia Norwood, EVP and president, Governing administration Small business Division for Anthem. “Our total-particular person solution to wellbeing, which consists of addressing the social motorists of well being, offers Medicare and Medicaid-qualified people entry to the providers and treatment they need to improve their health and fitness and wellbeing.”
 

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