WASHINGTON, April 4, 2016 /PRNewswire/ -- Trusted Health Plan, an NCQA (National Committee for Quality Assurance) accredited Washington, DC Medicaid Managed Care Organization, whose CEO, Tommy Duncan has been on a fast track to implementing industry cost containment strategies has now positioned itself for further growth.
Today, Duncan announced the addition of three new investors: Thomas (Tom) Scully, the former Head of the Centers for Medicare and Medicaid Services ("CMS") and the former President and CEO of the Federation of American Hospitals. Tom is also a General Partner at Welsh, Carson, Anderson & Stowe ("WCAS"), one of the nation's largest healthcare investors with over $20 billion under management. As a part of Trusted's ownership and executive leadership team, Tom will serve as the Chairman of Trusted's Board of Directors. Trusted further strengthened its team with the addition of Morgan Noble Healthcare Partners ("Morgan Noble"), a Washington, D.C. based principal investment firm focused on keeping patients healthy by investing in and working closely with healthcare service and healthcare IT companies. Like Tom Scully, Morgan Noble's Managing Partner, Robert Haft, will bring his considerable healthcare experience and expertise, having been the former CEO of Vitamins.com, Phar-Mor Drugs ($1.5 billion drug retail chain) and Dart Group ($1 billion healthcare company), to Trusted's Board, as a Director. Finally, Juggernaut Capital Partners ("JCP"), a Maryland based investment firm with over $600 million of capital under management, has also joined Trusted.
"I am pleased to welcome Tom Scully, Morgan Noble, and Juggernaut Capital Partners," said Tommy Duncan, CEO. "They will provide valuable insight and leadership as we continue to build our position as a Medicaid Managed Care organization who delivers quality services, extraordinary results and healthy outcomes."
"When Trusted began operations in the District in July 2013, serving approximately 30,000 Medicaid recipients, it was a startup health plan competing with much larger national and regional companies," said Thomas Duncan, Trusted's CEO. "Now, Trusted is an NCQA (National Committee for Quality Assurance) accredited, and growing organization. To further its position in the Medicaid Managed Care industry and to continuously improve the health of its valued members, Trusted recently added new investors that bring significant experience and financial resources."
About Trusted Health Plan
Trusted has a unique approach to achieving its mission of substantially improving the health outcomes of its members by deploying case managers and outreach staff into the communities we serve, and operating Health & Wellness Outreach Centers in those neighborhoods. Our members can visit us any time. This strategy is differentiated and leads to better outcomes.
In 2016, Trusted is focused on reducing low acuity non-emergent emergency room visits, avoidable inpatient admissions, and 30-day readmissions; Trusted's new owners are committed to and excited about working with Trusted's management team to meet its objectives.
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Contact: Gwen Thomas
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SOURCE Trusted Health Plan