Bright Health brings its groundbreaking Health Plan Care Partner Model to 13 new markets for 2020
MINNEAPOLIS, July 24, 2019 /PRNewswire/ — Today, Bright Health announced it will begin offering its innovative Health Plan Care Partner Model in 13 new markets across seven states in 2020 plus expanded product offerings in every existing market. This market expansion brings Bright Health Plan’s footprint to a total of 22 markets in 12 states, building on its sizable growth last year when it added products in Arizona, New York, Ohio and Tennessee. All product offerings are subject to final regulatory approvals.
“In just four years, we’ve grown from serving consumers in our pilot market of Colorado to serving tens of thousands of members across six states. This substantial growth shows that consumers are hungry for a new healthcare model that is simple, personal and more affordable,” said Bright Health CEO Bob Sheehy. “We’ve been able to meet this demand because our Health Plan Care Partner Model allows us to scale quickly and effectively, and our significant expansion in 2020 is further validation of that.”
The Health Plan Care Partner Model features proprietary care networks available to Bright Health Plan members in each of its markets. Bright Health Plan develops these personalized Care Partner networks based on several criteria including comprehensive care across specialties, geographic reach, quality of care and operational efficiency. By working hand-in-hand with physicians in local communities, Bright Health Plan is able to proactively engage with members, including those with high-risk or chronic conditions, to improve health outcomes through in-network care. For members, this translates into a more personalized and affordable patient experience, including:
- Fully coordinated care
- Lower out-of-pocket costs1
- Fewer readmissions2 and emergency room visits3
- A reduction in duplicate testing4
- Referral-free specialist visits
Investors also continue to see promise in Bright Health’s trajectory. During last year’s open enrollment period, Bright Health closed a $200M Series C financing round, bringing total funding raised to $440M.
Said Sheehy, “With decades of experience under our belts, we knew it would take a radical change to fix healthcare, and we’ve found that many consumers, investors and health systems agree. Bright Health is leading the charge in the formation of truly collaborative relationships with our Care Partner networks to track savings, share data and rein in costs, all while personalizing the patient experience. We’ve had phenomenal success in our first four years and our 2020 expansion proves that we are able to deliver a much-needed product to an underserved population.”