Bright Health is always working to innovate healthcare systems and evolve as a company, and that sometimes lands us in the news. Stay connected to what we're doing across the country with press releases, news articles, and interviews.
Maricopa and Pima county residents will have more choices of Affordable Care Act health-insurance plans for 2019, though fewer federal dollars will be available to help people enroll in them.
Bright Health partners with one health system or network per market to develop insurance plans. In Maricopa County that partnership will be with the Arizona Care Network, providing members access to Abrazo Community Health Network, Dignity Health, Maricopa Medical Center, and Phoenix Children’s Care Network.
“Phoenix Children’s is thrilled to partner with Bright Health and we’re so excited there is another ACA Marketplace offering in our region," said Renee Clarke, executive director of managed care at Phoenix Children's. "The Bright Health contract allows our health system to again offer in-network care to families purchasing insurance products from the Health Insurance Exchange."
Phoenix Children's was not in-network for this year's Maricopa County Ambetter plans, Clarke said.
"We are excited patients can now receive in-network covered care at Phoenix Children’s facilities and from Phoenix Children’s medical providers through Bright Health," she said.
In Pima County, Bright Health is collaborating with the Carondelet Health Network.
Bright Health's partnership model is not about narrow networks, but rather making health care simpler and more personal, said Katrina Cope, who is Bright Health's Arizona market lead. Bright Health plans to do a lot of community outreach about 2019 plans, and that outreach will include educating the consumers about health insurance, she said.
Bright Health officials say their model eliminates the friction that often exists between providers and insurers.
Bright Health, a Minneapolis-based health insurance startup, is Minnesota’s most valuable venture capital-backed startup, according to new data from Pitchbook. Bright Health was most recently valued at $400M. Last summer, the company closed its Series B round at $160M – likely the largest VC raise in Minnesota history. Bright Health, founded in 2015, aims to help users access affordable health insurance plans by partnering with health systems across the country.
Founded in 2017, the Massachusetts-based Devoted Health is among a small crop of venture-backed startups such as Clover and Bright Health, targeting the growing aging population. Total Medicare spending is expected to grow from $583 billion in 2018 to $1.3 trillion in 2028, according to the Kaiser Family Foundation. The reasons are an aging population, the growth of Medicare enrollment due to baby boomer generation reaching the age of eligibility and increase in health care costs, according to the foundation.
Town Hall Ventures, a firm led by former Centers for Medicare & Medicaid Services Administrator Andy Slavitt, has closed its first fund at $115 million.
Town Hall also announced new investments in Landmark Health LLC, providing home-based care to high-acuity Medicare, Medicaid, and dual-eligible populations; Bright Health Inc., a technology-enabled health insurance plan that is built in partnership with leading health systems.