Babylon Extends Reach of U.S. Medicare Market, Caring for 19,000 More Medicare Beneficiaries through Participation in the NeueHealth Physicians Plus ACO, LLC DCE

Rhea-AI Summary

Babylon (NYSE: BBLN) has joined the Physicians Plus ACO, LLC Direct Contracting Entity, enhancing its care for over 30,000 Medicare beneficiaries. Effective January 1, 2022, this initiative adds 19,000 California Medicare beneficiaries to its services, promoting value-based care. By collaborating with Meritage Medical Network, Babylon shifts Medicare care from fee-for-service to a more proactive, preventative model. CEO Ali Parsa highlights this as a significant step in making quality healthcare more accessible, as the company focuses on digital-first healthcare solutions.

Positive

• Increased access to healthcare for an additional 19,000 Medicare beneficiaries.
• Participation in the DCE supports the transition to a value-based care model.
• Focus on underserved communities aligns with healthcare improvement goals.

Negative

• None.

The statements contained in this document are solely those of the authors and do not necessarily reflect the views or policies of CMS. The authors assume responsibility for the accuracy and completeness of the information contained in this document.

PALO ALTO, Calif.--(BUSINESS WIRE)-- Babylon (NYSE: BBLN) today announced that the company is now participating in the Physicians Plus ACO, LLC Direct Contracting Entity (“DCE”) as part of the Center for Medicare Services Global Professional Direct Contracting Model (GPDC). The Babylon providers participating in the DCE care for 30,000 Medicare beneficiaries (effective Jan 1, 2022). Through participation in the DCE, Babylon providers are caring for an additional 19,000 California Medicare beneficiaries who will have access to Babylon’s digital-first healthcare services.

Under the GPDC Model, health care providers are encouraged to improve the care offered to those on Medicare, especially those in underserved communities. Babylon is pursuing this mission working alongside Meritage Medical Network – a California Independent Physician Association (IPA) that Babylon has invested in – to move their in-network Medicare beneficiaries from a reactive, fee-for-service approach to the more accessible and preventative value-based model of care.

As a result of participating in the DCE, Babylon providers have the opportunity to utilize value based care solutions. Babylon providers can also leverage Babylon value based care solutions when it comes to improving care for those on Medicare plans.

“As a company, we have been heavily focused on providing better healthcare for Medicare populations that we serve,” said Ali Parsa, Founder & CEO of Babylon. “By partnering with Bright Health Group and our incredible IPA, we can now say that we’re responsible for over 30,000 Medicare lives, which means we're one step closer to making quality healthcare more accessible for all.”

Babylon developed its value based care solutions in response to a current healthcare system that focuses on reactive care to sickness and crisis. As opposed to costly sick care, Babylon provides access to high quality, end-to-end healthcare when sick or well, from any device, at no extra cost. While empowering patients with proactive care services and a dedicated Personal Care Team to help take control of their health, Babylon also helps providers achieve significant savings, better patient outcomes, and streamlined operations.

About Babylon

Babylon is one of the world’s fastest growing digital healthcare companies whose mission is to make high-quality healthcare accessible and affordable for every person on Earth.

Babylon is re-engineering how people engage with their care at every step of the healthcare continuum. By flipping the model from reactive sick care to proactive healthcare through the devices people already own, it offers millions of people globally ongoing, always-on care. Babylon has already shown that in environments as diverse as the developed UK or developing Rwanda, urban New York or rural Missouri, for people of all ages, it is possible to achieve its mission by leveraging its highly scalable, digital-first platform combined with high quality, virtual clinical operations to provide integrated, personalized healthcare.

Founded in 2013, Babylon’s technology and clinical services is supporting a global patient network across 15 countries, with 15 languages available. And through a combination of its value-based care model, Babylon 360, and its work in primary care through NHS GP at Hand, Babylon has over 440k global managed care members in Q1 2022. In 2021, Babylon helped a patient every 6 seconds, with approximately 5.2 million consultations and AI interactions. Importantly, this was achieved with more than a 95% user retention rate and 5 star rating from circa 90% of our users. Babylon is already working with governments, health providers, employers and insurers across the globe to provide them with a new infrastructure that any partner can use to deliver high-quality healthcare with lower costs and better outcomes. For more information, please visit www.babylonhealth.com.

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Media

Adam Davison

press@babylonhealth.com



Investors

investors@babylonhealth.com

Source: Babylon

FAQ

What is Babylon's recent announcement regarding Medicare beneficiaries?

Babylon announced its participation in the Physicians Plus ACO Direct Contracting Entity, expanding care to over 30,000 Medicare beneficiaries, including 19,000 new beneficiaries in California.

How does Babylon aim to improve healthcare for Medicare populations?

Babylon is transitioning Medicare beneficiaries from a fee-for-service model to a preventative, value-based care model through partnerships and digital healthcare solutions.

When did Babylon's participation in the DCE become effective?

Babylon's participation in the DCE became effective on January 1, 2022.

What role does Meritage Medical Network play in Babylon's strategy?

Meritage Medical Network is a California Independent Physician Association that collaborates with Babylon to enhance the care for Medicare beneficiaries.

What is the significance of Babylon's focus on underserved communities?

By focusing on underserved communities, Babylon aims to improve healthcare access and outcomes for populations that typically receive less effective care.