Aetna and Banner Health appoint CEO of joint venture
Aetna partners with Banner Health to create Banner-Aetna, a health plan company focussing on enhancing quality, affordability and the patient experience.
The partnership is expected to combine Banner’s care management services and high-quality facilities, providers and delivery system with Aetna’s health plan expertise, analytics and health information technology.
Together, they hope to provide health coverage to employers and their employees in Maricopa and Pinal counties with plans for future statewide expansion.
According to Banner’s press release, this partnership builds on the success of Aetna and Banner’s five-year accountable care organization (ACO) relationship and strengthens the companies’ shared commitment to reward value over volume of care for the delivery of better outcomes and lower healthcare costs.
The new health plan will focus on the consumer experience by combining fully-integrated care teams, health insurance and administrative services, with a goal of eliminating redundancies in care as well as administrative hassles, the press release added.
Savings achieved by streamlining care and services will be passed on to consumers and employers through lower premiums.
“We are committed to finding new ways to deliver more efficient and effective care for our members in Arizona and across the country,” said Gary Loveman, Aetna’s executive vice president and president of Consumer Health and Services.
New commercial products for fully insured and self-insured customers in Maricopa and Pinal counties will be available beginning January 1, 2017.
Aetna members who are currently part of the Aetna Whole Health Network ACO plans will have the opportunity to transition into plans offered through the new partnership.
Tom Grote, president of Aetna’s Arizona market, said: “Through the Aetna Whole Health-Banner Health Network ACO partnership, we have achieved a shared total savings of more than $9.9 million to date for members and customers in Arizona.
“By taking this next step with Banner, we will be able to reinvent the consumer health care experience while delivering more affordability to our customers and plan sponsors in Maricopa and Pinal counties.”
Aetna, Banner Health, US, Healthcare, Risk management, Patient care, Data analytics, Accountable care organisation, Insurance, Technology, IT, Gary Loveman