Centivo Named by Blackstone's Equity Healthcare as a Preferred Health Plan Offering for its Portfolio Companies
Centivo selected as alternative to traditional carrier model to drive Equity Healthcare's goal of more care provided by highest quality accountable care providers
BUFFALO, N.Y., Oct. 12, 2021 /PRNewswire/ -- Centivo, a new health plan for self-funded employers anchored around leading providers of value-based care, announced today that it has been named as a preferred health plan offering by Equity Healthcare, the healthcare management division within Blackstone's Portfolio Operations Team. The plan is available now for Portfolio Companies with a January 1, 2022 renewal date or later.
With this agreement in place, Blackstone Portfolio Companies that are self-funded can now offer an affordable health plan to their employees with no deductible, no coinsurance, free primary care, and simple and predictable copays, all while accessing high quality care. Portfolio Companies can offer Centivo as their sole health plan administrator or alongside other coverage options of their choice.
"We are thrilled to be working with Blackstone and their portfolio companies," said Ashok Subramanian, Founder and CEO of Centivo. "We share their commitment to bringing affordable, high-quality health plans to employers and their employees, and we very much look forward to bringing this commitment to life in the months and years ahead."
"Since we formed the Blackstone - Equity Healthcare team back in 2008, we have made tremendous strides in lowering health plan costs while at the same time, helping our self-funded Portfolio Companies offer highly valuable health benefits for their employees and families," said Andreas Mang, Operating Partner and Chief Executive Officer of Equity Healthcare. "We believe that the next wave of cost savings and quality improvement will be achieved by getting people to the better doctors and provider systems, and we believe Centivo is the right firm to help us achieve that."
One Blackstone Portfolio Company has already seen outstanding results with Centivo. Member employees of this company who utilize the Centivo health plan have incurred significantly less out-of-pocket health costs to date versus fellow employees using other plans.
This agreement with Equity Healthcare marks another growth milestone for Centivo, which has now expanded into markets across the United States including Metro New York, Southern California, Central Florida, northern North Carolina, Nebraska, Iowa and Wisconsin.
About Centivo
Centivo is a new type of health plan anchored around leading providers of value-based care. Centivo saves self-funded employers 15 percent or more compared to traditional insurance carriers and is easy to use for employers and employees. Our mission is to bring affordable, high-quality healthcare to the millions of working Americans who struggle to pay their healthcare bills. With Centivo, employers can offer their employees affordable and predictable costs, a high-tech member experience, exceptional service, and a range of benefit options including both proprietary primary care-centered ACO models as well as traditional networks. For more information, visit centivo.com or follow us @Centivo on LinkedIn or @CentivoHealth on Twitter.
About Equity Healthcare
Equity Healthcare (EH) is the healthcare management division of Blackstone's Portfolio Operations team. Charged with bringing innovative solutions to manage U.S. healthcare spend across the Blackstone portfolio, EH has a twelve-year track record of controlling healthcare costs, while delivering solutions through its carrier and PBM partners, all of whom have achieved market-leading satisfaction scores. EH works with over 70 portfolio companies annually, and manages health expenditures exceeding $1.25B, making it one of the largest private sector purchasers of healthcare services in the U.S. For more information, visit www.equityhealthcare.com.
Media Contact:
Emilie Stanton (for Equity Healthcare)
Email: [email protected]
Phone: 646-482-6143
Bruce Lee (for Centivo)
Email: [email protected]
Phone: 203-895-2214
SOURCE Centivo
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