Aledade — an independent primary care network focused on value-based care — struck a 10-year partnership with insurer Humana. Under the collaboration, Humana’s Medicare Advantage members will receive primary care from Aledade physicians using value-based arrangements.
According to the terms of the deal, the initial purchase price of about $250 million will be paid in cash and Signify stock. The Dallas-based company will also make additional contingent payments totaling up to $50 million based on Caravan's future performance.
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The two companies had been negotiating a six-year value-based contract prior to the start of the pandemic. Allina and BCBS of Minnesota expect the agreement will affect roughly 130,000 patients.
The idea behind the new company - dubbed Castell - is to use Intermountain's resources and learnings from its own efforts to shift to value-based care to help other providers on that journey.
Dubbed the CMS Primary Cares Initiative, the program aims to reduce administrative burden for providers, while incentivizing clinicians to spend more time with patients and focus on preventive care.