Anthem on Wednesday mentioned it’ll purchase residence well being advantages supervisor myNEXUS, marking the payer’s entrance into the supplier enterprise aimed toward reducing healthcare prices and creating higher outcomes for its 2.3 million Medicare Benefit members.
The Indianapolis-based insurer, which operates Blue Cross and Blue Defend plans in 14 states, pays an undisclosed sum to purchase the Brentwood, Tenn.-based administration firm. The seven-year-old startup automates residence go to authorizations and affords analytics companies to insurers, employs a workers of greater than 250 clinicians and boasts a nationwide community of at-home suppliers and nursing companies. The startup mentioned it at the moment gives residence care help to 1.7 million Medicare Benefit members throughout 20 states. myNEXUS has to date raised $31.7 million in funding, in line with Crunchbase.
“Offering well timed take care of members of their properties permits for each wonderful customized care in addition to the consolation of being in most popular environments,” Dr. Prakash Patel, president of Anthem’s Diversified Enterprise Group, mentioned in a press release. “Bringing the proper degree of complete particular person care into the house has been demonstrated to enhance outcomes, cut back readmissions and enhance members’ and their household’s expertise of wellbeing.”
myNEXUS will be part of Anthem’s diversified enterprise group, which incorporates its different non-insurance belongings just like the CareMore medical group, Aspire Well being palliative care supplier and Beacon behavioral well being companies. Anthem has beforehand named this enterprise line as a progress space.
Through the firm’s investor’s day in early March, Anthem mentioned its diversified enterprise group at the moment manages 7% of its medical spend and, by 2025, expects it to supervise 25% of its medical prices. Twenty-nine of the 35 non-Anthem Blues plans use at the very least one of many merchandise from this enterprise line, together with Sharecare, which Anthem invested in February. On the time, Anthem mentioned the Sharecare would construct out its digital engagement and personalization technique by extra sturdy AI capabilities. Its acquisition of myNEXUS, which it expects to shut within the second quarter, will additional strengthen its tech providing for its rising variety of Medicare Benefit enrollees, Cantor Fitzgerald analyst Steven Halper wrote in a analysis notice on Wednesday.
In 2021, Anthem expects to develop Medicare Benefit membership by double-digits, with Blues members growing old into Medicare and strategic supplier partnerships driving progress.
“The corporate is slowly constructing out its completely different supplier companies and growing its use of member engagement technique throughout its completely different well being plans,” Halper wrote.