WellCare of New York Increasingly Moves to Value-Based Reimbursement Agreements to Align Provider Payments with Health Outcomes

NEW YORK and TAMPA, Fla., June 13, 2016 /PRNewswire/ -- To improve health outcomes for its members, WellCare of New York, a subsidiary of WellCare Health Plans, Inc. (NYSE:WCG), is increasingly moving toward value-based reimbursement agreements to align provider payments with quality, efficiency and patient-engagement results.

WellCare of New York recently signed value-based care agreements with six large providers serving New York state: Corinthian Medical IPA, Bronx United IPA, Coalition of Asian-American IPA, Eastern Chinese American Physicians IPA, Community Healthcare Network, and Children's Medical Group.

With these new agreements, more than one-third of WellCare of New York's provider network now operates under agreements that incentivize positive health outcomes.

"Value-based care agreements provide financial incentives for providers who have a record of delivering the high-quality care that our members need to get and stay healthy," said John J. Burke, president of WellCare of New York. "These types of agreements place the focus on health outcomes, preventive services and patient satisfaction."

Under these value-based reimbursement agreements, WellCare offers incentive payments to providers for quality-based improvements in certain Healthcare Effectiveness Data and Information Set (HEDIS^®) measures, a tool used by more than 90 percent of America's health plans to measure performance on important dimensions of care and service, and for obtaining a certain Star Rating level, a system created by Centers for Medicare & Medicaid Services (CMS) that measures and scores providers' performance on several categories, including quality of care and customer service.

"The Coalition of Asian-American IPA (CAIPA) is excited to enter into value-based contracting with WellCare," said Yin Tung, the company's director of contract and quality. "Value-based care is here and, with a strong partner such as WellCare, CAIPA is confident that we will be able to provide better and more timely care at a lower cost to the Asian American community we serve together."

"With the New York Medicaid landscape rapidly shifting toward value-based purchasing, we're excited to partner with WellCare on implementing this value-based purchasing arrangement," said David Gross, general counsel for Community Healthcare Network. "Collaborating with WellCare on this initiative, and working together to deliver high-quality care in an efficient manner, positions us for success in the evolving New York Medicaid marketplace."

As of March 31, 2016, WellCare serves approximately 118,000 Medicaid members, 41,000 Medicare Advantage members, 55,000 Medicare Prescription Drug Plan members and 7,000 Managed Long Term Care members in New York.

About WellCare Health Plans, Inc.
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses exclusively on providing government-sponsored managed care services, primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, to families, children, seniors and individuals with complex medical needs. The Company serves approximately 3.7 million members nationwide as of March 31, 2016. For more information about WellCare, please visit the Company's website at www.wellcare.com or view the company's videos at https://www.youtube.com/user/WellCareHealthPlan.  

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SOURCE WellCare Health Plans, Inc.

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