RANCHO CUCAMONGA, Calif., March 30, 2016 /PRNewswire-USNewswire/ -- Inland Empire Health Plan (IEHP), with the approval of its Governing Board, has created the $30 million Provider Capital Fund, an innovative program to fund renovation, expansions and new construction of medical facilities to help improve access and quality of care for more than 1.14 million IEHP members.
The new Provider Capital Fund complements and enhances IEHP's existing Network Expansion Fund program, launched in 2014, to help bring 130 new medical providers to the Inland Empire.
"The Network Expansion Fund program has already been successful, adding 95 newly hired medical providers in the Inland Empire," said IEHP Chief Executive Officer Dr. Bradley Gilbert. "However, meeting our members' access needs, given the geography of the Inland Empire, remains a challenge. Because of its large population and its more than 22,000 square miles, the Inland Empire clearly needs additional clinical space."
To address this need, IEHP's Provider Capital Fund will offer funding to eligible entities for:
- Construction of new clinic facilities
- Renovation or expansion of existing facilities
- Initial first-year lease costs for new clinic sites and expansion of existing clinics
- Other innovative developments that increase physical capacity for clinical work spaces
IEHP will form a committee to review applicants and conduct oversight of the PCF program. Funding will be on first come, first approved basis and will be rewarded in installments over the life of the project.
Potential funding levels for eligible entities in the Inland Empire are:
- New Facility: 50% of the cost of new clinical facility construction up to $2 million within reasonable cost per square foot limits;
- Existing Space: 50% of the cost of renovation, remodel, or addition to existing space that adds new clinical capacity up to $1 million within reasonable cost per square foot limits;
- New Lease: 50% of lease costs, including tenant improvements for the first year of newly leased space up to $500,000, within reasonable cost per square foot limits.
"The Provider Capital Fund is an investment in the Inland Empire," said IEHP Chief Network Officer Kurt Hubler. "It's another innovative program from IEHP to help increase the medical resources we need to provide better access to quality care for our growing membership, especially those in the rural and underserved areas of our community."
IEHP, Inland Empire Health Plan, is a not-for-profit Medi-Cal and Medicare health plan located in Rancho Cucamonga, California. With a network of over 4,000 providers and more than 1,800 employees, IEHP serves more than 1.14 million residents in Riverside and San Bernardino counties who are enrolled in Medi-Cal, Cal MediConnect Plan (Medicare), or the Healthy Kids Program. Through a dynamic partnership with providers, award-winning service and innovative products, IEHP is fully committed to providing members with quality, accessible and wellness based healthcare services. www.iehp.org.
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SOURCE Inland Empire Health Plan (IEHP)