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Bright Health ceases MA operations in Florida in latest business cut
Listen to the write-up 4 min This audio is vehicle-created. Please let us know if you have responses. Dive Brief: Less than a thirty day period right after absolutely exiting the Affordable Treatment Act exchanges and slashing its Medicare Edge footprint to just Florida and California, Shiny Overall health Team has declared it’s also ending MA operations in Florida. As a final result, the insurtech will only work MA plans in California setting up in 2023, CFO Cathy Smith explained to investors on a third-quarter earnings call Wednesday. Implementing restructuring options to a extra focused enterprise design ought to outcome in Bright’s MA and NeueHealth firms staying nicely positioned for…
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Inside Magellan’s New Senior-Focused Behavioral Health Partnership
Magellan Healthcare, the behavioral and specialty wellness care phase of managed care group Magellan Wellness (Nasdaq: MGLN), has rolled out a new software aimed at serving to seniors address social determinants of well being. In buy to provide these solutions, Magellan Health care has teamed up with digital senior assistant and guidance instrument DOUS. New York-dependent DUOS was established in 2020. In April, it shut a $15 million Series A funding spherical. As aspect of the software, members are paired with a private assistant, or “Duo,” to enable them coordinate sources and uncover help. “It’s exceptional in the way that it delivers alongside one another destigmatized help for social determinants…
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Sabra Health Care Eyeing More Addiction Treatment Partnerships
Sabra Wellness Treatment REIT Inc. (Nasdaq: SBRA) is seeking to increase its operator partnerships in behavioral wellness, particularly in the dependancy cure space. Leaders of the Irvine, California-based genuine estate financial investment trust (REIT) said on a Tuesday third-quarter earnings phone that behavioral well being was a major expenditure sector for Sabra, proper driving senior housing. “We continue to meet with new operators and discover organization relationships within the dependancy restoration sector, as nicely as other places of behavioral wellbeing, the place we see financial investment opportunities,” Talya Nevo-Hacohen, Sabra Wellness Treatment main expenditure officer, explained on the connect with. Sabra Health and fitness Care’s portfolio largely is made up…
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Discovery Health Services brings ‘onsite whole-solution health and wellness’ to local workplaces
Enterprise Highlight: On the lookout to make the office a wellness house, Discovery Health Expert services specializes in assisting La Jolla-area organizations raise personnel wellbeing and properly-being. To study a lot more about the apply, the La Jolla Mild posed the next inquiries to Main Executive Jeffrey Sternberg. Q. When did your small business start off? Who started it? What is its mission? A. We have been initially launched in 2002 as a division of Pacifica Wellness and Health-related. A previous partner [Selby Stultz] and I ended up founders. Our mission is to improve profitability and productiveness of our company customers by improving the overall health, properly-staying and place of…
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Behavioral Health Players Likely to Place Bets on Smaller Deals, Outpatient Businesses in 2023
The present-day financial local climate may well mean less mega bargains in behavioral health following calendar year. But investors will probable continue to have a wholesome hunger for smaller sized transactions, business insiders imagine. “I consider that purchasers will get more selective, but I assume the desire is nevertheless [there],” Kevin Taggart, managing lover at Mertz Taggart, explained in the course of Behavioral Well being Business’ Spend. “We even now see a incredible amount of demand each time we acquire a enterprise to marketplace, so I assume that equation even now keeps them at the very least flat. I really do not assume they are likely to go up.” Founded…
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What Cigna’s Evernorth Plans Mean for Behavioral Health
Cigna Corp. (NYSE: CI) will double down on Evernorth as component of its development prepare. Evernorth is the overall health treatment services division of the Bloomfield, Connecticut-centered insurance provider. Through Evernorth and its coverage approach small business, Cigna is extra and extra relevant in the behavioral health place. Cigna has much more than doubled Evernorth’s behavioral health and fitness network — element of a growing development by payers to prioritize such attempts. Evernorth sales opportunities Cigna’s divisions monetarily. It made up 68{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} of Cigna’s pre-tax cash flow and 79{8ba6a1175a1c659bbdaa9a04b06717769bcea92c0fdf198d429188ebbca09471} of its income in the third quarter, according to money filings. Especially, Cigna intends to deepen Evernorth’s digital abilities. Evernorth services…
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