Evolent Care Partners Signs Two New Physician Groups and Expands Total Cost of Care Management Partnership with Commercial Payer

Rhea-AI Summary

Evolent Health (NYSE: EVH) reported 40% growth in the population served by its Evolent Care Partners network compared to 2020. Key drivers include new partnerships, regional expansion in Texas, and growth with existing partners. The network now consists of ~500 primary care physicians, a 30% increase from last year, managing approximately 90,000 lives under Medicare Advantage and Commercial plans, equating to about $900M in premium equivalent. The company emphasizes its innovative technology and clinical programs that improve care coordination and cost management, even during the pandemic.

Positive

• 40% growth in population served compared to 2020.
• 30% increase in primary care physicians to ~500.
• Management of ~90,000 lives equating to ~$900M in premium equivalents.

Negative

• None.

WASHINGTON, Feb. 25, 2021 /PRNewswire/ -- Evolent Health, Inc. (NYSE: EVH), a health care company that delivers proven clinical and administrative solutions to payers and providers, today announced 40% growth from 2020 in the population served by its Evolent Care Partners network. This growth has been driven by 1) new partnerships, including the two regional physician groups in large MSAs announced today, 2) regional footprint expansion including recent expansion in Texas with Blue Cross Blue Shield of Texas, and 3) same-store growth with our existing partners.

Evolent Care Partners, Evolent's primary care-centric offering, empowers providers by supplying them with the resources needed to participate and succeed within two-sided performance-based contracts. With the addition of new partners beginning January 1, 2021—including previously announced Physicians Accountable Care of Utah (PACU) and Tar River Health Alliance, as well as today's announcement of two new physician groups—Evolent Care Partners' 2021 network will consist of approximately 500 primary care physicians. This represents 30% growth in participating primary care physicians from 2020.

Evolent Care Partners also establishes payer partnerships in which it manages total cost of care for its partners' Medicare Advantage and Commercial populations. Evolent Care Partners recently expanded regionally with Blue Cross Blue Shield of Texas for its Commercial population. With the addition of the expanded payer and provider partnerships, Evolent Care Partners now manages approximately 90,000 Traditional Medicare and Commercial lives, which represents 40% growth from 2020 and approximately $900M of premium equivalent under management.

"We are excited to see the continued, accelerated growth of our total cost of care management solution, Evolent Care Partners," said Evolent Health Chief Executive Officer and Co-Founder Seth Blackley. "Evolent Care Partners drives clinical quality and financial performance for providers and payers through our proven, proprietary population health technology and clinical programs, as well as our substantive experience working with Medicare and commercial populations across the U.S."

"With Evolent Care Partners, we found a true partner who shares our commitment to empowering physicians to provide the best possible coordinated care," said Kevin Porter, CEO of Ogden Clinic, a member of PACU. "Our physicians will benefit from a growing network and access to population health tools and proven care coordination resources—allowing them to spend less time on administrative tasks and more time with patients. We look forward to partnering together as the health care landscape continues to evolve over the coming years."

The continued market expansion is a reflection of Evolent Care Partner's proven track record of success in enabling providers to drive cost savings and deliver superior quality care. In the second half of 2020, Evolent Care Partners and its network of physicians completed more than 40,000 interventions to improve the quality, continuity, and coordination of care for its patients despite disruptions to traditional office-based primary care caused by the COVID-19 pandemic. Evolent Care Partners enables this level of performance through its approach to population health; this includes Evolent's proprietary technology platform, Identifi^SM and clinical programs which target patients with chronic conditions. Primary care physicians in Evolent Care Partners' network leverage the Identifi platform to identify and prioritize targeted interventions and potential high-impact opportunities across their panel. In addition, Evolent Care Partners also aligns incentives to help ensure that independent physician organizations are rewarded for the value they generate and can thrive in value-based care.  

About Evolent Health
Evolent Health (NYSE: EVH) delivers proven clinical and administrative solutions that improve whole-person health while making health care simpler and more affordable. Our solutions encompass total cost of care management, specialty care management, and administrative simplification. Evolent serves a national base of leading payers and providers, is the first company to receive the National Committee for Quality Assurance's Population Health Program Accreditation, and is consistently recognized as a top place to work in health care nationally. Learn more about how Evolent is changing the way health care is delivered by visiting evolenthealth.com.

Contacts:

Chelsea Griffin
Investor Relations
919.817.8045
cgriffin@evolenthealth.com

Dan Paladino
Media Relations
571.306.3470
dpaladino@evolenthealth.com

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SOURCE Evolent Health

FAQ

What is the latest news about Evolent Health (EVH) as of February 2021?

Evolent Health announced a 40% growth in its Evolent Care Partners network population served, driven by new partnerships and regional expansion.

How many primary care physicians are in Evolent Care Partners network?

The Evolent Care Partners network consists of approximately 500 primary care physicians, reflecting a 30% growth from 2020.

What are the financial metrics associated with Evolent Care Partners?

Evolent Care Partners is managing about 90,000 Traditional Medicare and Commercial lives, representing around $900 million in premium equivalent.

What is Evolent Health's strategy for managing costs in healthcare?

Evolent Health utilizes its proprietary technology platform and clinical programs to enhance quality and coordination of care, especially during the pandemic.