NEW YORK, April 9, 2020 /PRNewswire/ -- Centivo today launched its new self-funded health plan solution, which is built to save 15 percent or more compared to traditional health plans and is easy to use for the employer and the employee. The solution provides plan options for employees, including low-cost, primary care-based models to help them navigate the health care system and guide patients to the right specialists and facilities. Centivo does this by using advanced analytics to build cost-effective networks directly with high-quality health systems and independent practice partners. The solution will initially be available in three markets — Metro New York, Orlando, and Jacksonville — with additional markets to be added over the course of the year. Centivo also partners with employers and their advisors to implement custom local network solutions in other markets.
"Rising health care costs are an ever-increasing burden for employers, and so far, the answer to addressing them has simply been to shift more and more of the cost to employees with high-deductible health plans," said Centivo CEO Ashok Subramanian. "Centivo delivers an entirely new approach to employer-sponsored health plans that eliminates the deductible, gives members a dedicated primary care team to navigate their care, and verifiably lowers costs for employers and employees by partnering closely with high-performing health systems in local markets. We're thrilled to be launching Centivo in Metro New York, Orlando, and Jacksonville to bring lower-cost, easy-to-use health care to the modern American workforce and their families."
With Centivo, employers are able to implement a single health plan administrator that provides a range of network and benefit options to best meet the needs of their diverse workforce. In order to most effectively lower costs, employees have an option in which they coordinate their care through their selected primary care team in exchange for free primary care and simple, predictable copays for all other care, meaning employees have fewer out-of-pocket expenses and save hundreds of dollars per year. In the launch markets, anchor health systems and independent practice partners will work with Centivo to deliver care to members. These health systems and practice partners include: Mount Sinai Health System and ProHealth in New York, Orlando Health in Orlando, and others. Employees can choose the unique Centivo plan with Centivo's proprietary network or a more traditional health plan option accessing a Cigna national network*, all administered by Centivo.
Centivo's entry into New York and Florida follows a successful pilot program in 2019. Early results from that program found emergency room visits decreased 30 percent, routine primary care visits increased 23 percent, and preventive care visits increased 64 percent, compared to the previous year without Centivo.
"Orlando Health is one of the most cost effective, high quality health care providers in the nation," said Michael Stubee, assistant vice president of managed care for Orlando Health. "So, when we were offered the opportunity to be part of a plan that works closely with employers to align incentives with providers and deliver better health care, we knew we found a partner in Centivo that recognizes our strengths and shares our vision."
An alternative to traditional insurance carriers or third-party administrators, Centivo offers the technology, network, claims processing, customer support, and population health management to fully administer an employer's health benefits. The Centivo member experience is supported by concierge phone support and the Centivo app and portal, which helps members choose a primary care physician, easily manage their referrals, and view claim details and a personalized history of care.
To learn more about Centivo, please visit: www.centivo.com
Centivo is a new type of health plan solution that's built to save 15 percent or more compared to traditional insurance carriers and is easy to use for employers and employees. Centivo's mission is to bring lower cost, higher quality health care to the millions of people in the United States who struggle to pay their health care bills. Centivo uses advanced analytics to build high-quality, cost-effective networks directly with health systems and independent practice partners, and then empowers primary care teams to serve as the center of the health care experience. Members coordinate their care through their selected primary care team in exchange for free primary care and simple, predictable copays for all other care. An alternative to traditional insurance carriers or third-party administrators, Centivo offers the technology, network, claims processing, customer support, and population health management to fully administer an employer's health benefits. Headquartered in New York City, Centivo is backed by Bain Capital Ventures, Maverick Ventures, Bessemer Venture Partners, Ingleside Investors, Rand Capital, Grand Central Tech Ventures, and Oxeon Investments.
*Centivo accesses three Cigna networks: the Cigna Open Access Plus (OAP) network for Shared Administration, the Cigna PPO network for Shared Administration, and the Cigna LocalPlus® network. The Cigna OAP, PPO and LocalPlus networks refer to the health care providers (doctors, hospitals, specialists) contracted as part of each network. Centivo is an independent company and not an affiliate of Cigna. Any Cigna products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company. The Cigna name and other Cigna marks are owned by Cigna Intellectual Property, Inc.
For more information on Centivo, contact:
Simon Brown, [email protected]