Chesapeake Independent Physician Association Expands into Virginia

Rhea-AI Summary

Collaborative Health Systems (CHS), a provider management organization under Centene (NYSE: CNC), announced its expansion into Virginia. This move allows Virginia providers to join Chesapeake Independent Physician Association (CIPA) and participate in value-based care programs. Established in Maryland since 2018, CIPA includes over 150 provider groups and operates Medicare Shared Savings Programs, Medicare Advantage plans, and commercial health plan programs. Participating in CIPA offers benefits like improved Medicare Fee-For-Service rates, financial incentives, and enhanced care coordination tools.

Positive

• Expansion into a new market (Virginia) offers growth opportunities.
• Over 150 provider groups included in CIPA since 2018.
• Participation in Medicare Shared Savings Programs and Medicare Advantage plans.
• Financial incentives and improved Medicare Fee-For-Service rates for participating providers.
• Enhanced care coordination tools and resources.
• Potential for increased practice revenue and operational efficiency.

Negative

• Operational and integration challenges in a new market.
• Initial costs and investments required for expansion.
• Potential resistance from providers unfamiliar with CIPA and its programs.

New Market Gives More Providers Opportunity to Participate in Value-Based Care Programs

TAMPA, Fla., May 28, 2024 /PRNewswire/ -- Collaborative Health Systems (CHS), a management services organization for providers and wholly owned subsidiary of Centene Corporation (NYSE: CNC), recently announced expansion into a new market, offering providers in Virginia an opportunity to join Chesapeake Independent Physician Association (CIPA) to drive greater collaboration around value-based care.

CIPA, managed by Collaborative Health Systems and operating in Maryland since 2018, includes more than 150 provider groups and two Medicare Shared Savings Programs (MSSP), Medicare Advantage (MA) plans, and several commercial health plan programs. The IPA also offers participating practices the benefits derived from belonging to a larger group, including improved Medicare Fee-For-Service rates, value-based programs offered by health plans and financial incentives.

"This is an exciting step in our business initiatives and growth efforts to align with providers who are focused on succeeding in value-based care," said Anthony Valdés, president of Collaborative Health Systems. "We look forward to welcoming new providers into our network."

Practices that participate in CIPA have a trusted partner that can offer tools and resources to coordinate care, engage with patients and provide administrative support. Other participation benefits include working alongside healthcare providers who have a vested interest in value-based care, reducing practice costs, improving operational efficiency, increasing practice revenue and achieving greater patient health outcomes.

For more information about Chesapeake Independent Physician Association, click here.

About Collaborative Health Systems (CHS)
Collaborative Health Systems (CHS) is a management services organization that partners with independent primary care physicians as they move to value-based models. Its core belief is that primary care physicians are in the best position to influence the quality and cost of healthcare. CHS provides comprehensive support for its physician partners by providing management services, risk contracting and population health capabilities, including actionable data and other tools, to deliver care coordination and closure of gaps in care. CHS provides additional services to secure and deliver favorable value-based contracts with commercial and other health plans. CHS currently manages four REACH ACOs, six MSSP ACOs, three Independent Physician Associations and a Care Transformation Organization. CHS additionally contracts with private payers to help its providers expand their participation in value-based care across lines of business such as Medicare Advantage. CHS is a wholly owned subsidiary of Centene Corporation, a leading healthcare enterprise committed to helping people live healthier lives. For more information, visit www.CollaborativeHealthSystems.com.

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SOURCE Collaborative Health Systems

FAQ

What is the recent expansion announced by Collaborative Health Systems?

Collaborative Health Systems announced the expansion of Chesapeake Independent Physician Association into Virginia.

What benefits do providers get by joining Chesapeake Independent Physician Association (CIPA)?

Providers benefit from improved Medicare Fee-For-Service rates, financial incentives, enhanced care coordination tools, and increased practice revenue.

How many provider groups are included in Chesapeake Independent Physician Association?

CIPA includes over 150 provider groups.

Since when has Chesapeake Independent Physician Association been operating?

CIPA has been operating in Maryland since 2018.

What types of programs does Chesapeake Independent Physician Association participate in?

CIPA participates in Medicare Shared Savings Programs, Medicare Advantage plans, and several commercial health plan programs.

What is the stock symbol for Centene ?

The stock symbol for Centene is CNC.