Canopy Health chose Conifer Health Solutions to provide financial risk management and population health services for the network’s management of risk-based agreements and covered lives.
This agreement reflects an expansion of services by Conifer Health after it assisted Canopy Health in obtaining a restricted Knox-Keene license earlier this year from the California Department of Managed Health Care.
The license allows Canopy Health to contract directly with health plans to develop insurance products. By taking on full-risk contracts with select health plans, Canopy Health is now able to specify savings arrangements, quality and care management standards, and exercise more accountability for the patient population.
Canopy Health’s pursuit of full-risk contracts comes at a time when growth of risk-based care organizations is expected for nearly every region in California.
“Healthcare reform and consumer expectations have led to unprecedented changes in the payer and provider landscape in California, resulting in a shift to deliver higher quality of care and service under new payment models,” said Joel Criste, chief executive officer of Canopy Health.
“Conifer Health’s extensive experience in managing regional, risk-bearing organizations with multiple independent hospital and physician associations gives us confidence that we will achieve our vision to provide consumers with the right care, in the most appropriate setting and at an affordable cost.”
Plans call for Conifer Health to support all the financial and administrative services for the Canopy Health network, as well as assist in management oversight of the network operations.
“Providers continue to experience significant challenges achieving the right balance between appropriate care delivery and effective cost management. Conifer Health’s two decades of expertise helps accountable care organizations like Canopy Health improve quality, boost efficiency and mitigate risk. We are honored that Canopy Health has chosen us to help build a competitive network that provides an affordable and personalized healthcare experience,” said Megan North, president of value-based care for Conifer Health.
Canopy Health, US, Conifer Health, Insurance, Healthcare, Risk management, M&A