Astrana Health and Elation Health Form Nationwide Partnership to Expand Sustainable Support Infrastructure for Primary Care Physicians
Astrana Health (NASDAQ: ASTH) and Elation Health have formed a strategic partnership to empower primary care providers in value-based care. The collaboration aims to scale risk-bearing entities, including accountable care organizations and clinically integrated networks. Elation will provide its EHR platform, practice transformation, and billing technology, while Astrana will deploy its value-based care platform and enablement solutions.
As a first example, Astrana will support an existing provider organization in Hawai'i, working with over 100 primary care providers serving 20,000+ primarily Medicare patients. Providers are expected to onboard into Astrana's Care Enablement platform by the end of Q3 2024. This partnership aims to integrate Elation's EHR technology with Astrana's value-based care infrastructure to enhance member experience, improve outcomes, and lower costs.
- Strategic partnership formed between Astrana Health and Elation Health to empower primary care providers in value-based care
- Collaboration aims to scale risk-bearing entities, including accountable care organizations and clinically integrated networks
- Partnership to support over 100 primary care providers serving 20,000+ primarily Medicare patients in Hawai'i
- Providers expected to onboard into Astrana's Care Enablement platform by Q3 2024
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The partnership between Astrana Health and Elation Health marks a significant development in the healthcare sector, particularly in value-based care. This collaboration is poised to positively influence how primary care providers deliver services. The key aspect to note here is the integration of Elation's EHR platform with Astrana's value-based care infrastructure. Value-based care shifts the focus from the volume of services provided to the quality of care and patient outcomes.
For retail investors, it’s essential to understand that this partnership has the potential to improve outcomes and reduce costs. The initial focus on the Hawai'i market is a strategic move, considering the unique demographic and healthcare needs of the region. If successful, this model could be replicated in other markets, potentially leading to a significant positive impact on Astrana's revenues. One critical aspect here is the use of AI-driven population health analytics, which can optimize resource allocation and identify care gaps efficiently. Investors should monitor the progress, as successful implementation could lead to broader adoption and higher revenue streams for Astrana.
It's also worth noting that the deployment in Hawai'i will involve over 100 primary care providers and 20,000 Medicare patients. This sizable initial implementation indicates a robust testing ground for the partnership's efficacy, which could provide valuable data for future scaling efforts.
This strategic partnership could act as a catalyst for Astrana Health’s market positioning. By collaborating with Elation Health, Astrana is not only broadening its service offerings but also enhancing its value proposition through technology integration. This partnership could attract more providers looking for comprehensive, technology-enabled solutions. The move to integrate EHR systems with value-based care solutions can streamline operations, making it a compelling choice for independent physicians.
From a financial perspective, this partnership holds promise for revenue growth and market expansion. By initially targeting Hawai'i, Astrana can test and refine its integration strategy in a controlled setting before expanding to other markets. This phased approach minimizes risk while providing opportunities for iterative improvements. Investors should keep an eye on how well the integration is received by providers and its impact on patient outcomes. Successful execution could lead to accelerated adoption in other regions, thus positively impacting Astrana’s market share and financial performance.
Partnership Will First Launch Value-Based Care Solution Offering to Hawai'i Provider Community
Astrana and Elation will partner to empower primary care providers in value-based care. In partnership, the organizations plan to scale risk-bearing entities, including accountable care organizations and clinically integrated networks, anchored by existing and future affiliate providers. Together, the organizations will support independent physicians with the tools to deliver coordinated, high-quality care and to successfully participate in value-based care arrangements. Specifically, for providers in these risk-bearing entities, Elation will provide its award-winning EHR platform, practice transformation, and billing technology. Meanwhile, as the exclusive care enablement partner for these risk-bearing entities, Astrana will deploy its value-based care platform and enablement solutions, including value-based contracting and credentialing, AI-driven population health analytics, its NCQA®-certified HEDIS gaps in care engine, care management and disease management platform, and other administrative services, such as billing, coding, and call center solutions.
To demonstrate its commitment to this innovative new venture, Astrana has agreed to provide its Care Enablement platform to support an existing provider organization in Hawai'i as a first example of a model that closely integrates Elation's EHR technology with Astrana's value-based care infrastructure and care management capabilities. Jointly, the two organizations will work with a group of over 100 primary care providers serving over 20,000 primarily Medicare patients in the Hawai'i market and support the group as it continues to grow while investing in high-quality, high-value, accessible primary and multi-specialty care. Astrana will serve as the group's exclusive care enablement provider, with providers anticipated to onboard into its Care Enablement platform by the end of Q3 2024.
"We look forward to a highly collaborative partnership with Astrana to support our current and future provider partners by leveraging their value-based care and enablement expertise to empower the entrepreneurial provider, enhance member experience, improve outcomes, and lower costs," said Kyna Fong, co-founder and CEO of Elation Health. "Further, we are excited to be working together with Astrana in supporting Hawai'i physicians who desire to remain independent while caring for patients across all reimbursement models, and expanding the model to other regions."
"We strongly believe that success in value-based care requires an integrated approach, composed of an EHR that is loved by primary care providers with analytics and insights delivered in the provider's workflow, and care models with care management capabilities that support a patient's whole health. In conjunction, deep integration of value-based care infrastructure with the tools that providers use on a daily basis will be key in our pursuit of the quadruple aim. We believe that our partnership with Elation, a clinician-forward company with a demonstrated track record of successfully empowering local independent primary care practices, creates this innovative, integrated approach to care delivery," added Brandon Sim, President and CEO of Astrana. "We look forward to collaborating with Elation in bringing their EHR and our Care Enablement platform to providers across the country with the joint goal of supporting the delivery of high-quality, high-value healthcare for all."
About Astrana Health
Astrana is a leading provider-centric, technology-powered healthcare company enabling providers to deliver accessible, high-quality, and high-value care to all. Leveraging its proprietary end-to-end technology solutions, Astrana operates an integrated healthcare delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver high quality care to patients in a cost-effective manner. Headquartered in
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such as statements about Astrana's operational focus and strategic growth plans and expectations regarding its ability to successfully partner with third parties. Forward-looking statements reflect current views with respect to future events and financial performance and therefore cannot be guaranteed. Such statements are based on the current expectations and certain assumptions of Astrana's management, and some or all of such expectations and assumptions may not materialize or may vary significantly from actual results. Actual results may also vary materially from forward-looking statements due to risks, uncertainties and other factors, known and unknown, including the risk factors described from time to time in Astrana's reports to the Securities and Exchange Commission ("SEC"), including without limitation the risk factors discussed in Astrana's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC and any subsequent quarterly reports on Form 10-Q.
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations
Asher Dewhurst
investors@astranahealth.com
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SOURCE Astrana Health, Inc.
FAQ
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