AUSTIN, T.X., March 11, 2022 – agilon health, inc. (NYSE: AGL), the trusted partner empowering physicians to transform community health, announced the company has begun implementation for a long-term partnership with MaineHealth, the largest integrated health system in northern New England. agilon health and MaineHealth’s partnership is expected to create access to a new primary care delivery system that enables improved care for Medicare Advantage patients across the health system’s service area in Maine and New Hampshire.
“This partnership with MaineHealth is a strong statement on the continued evolution of the U.S. healthcare system toward primary-care led, value-based care to improve outcomes and the quality of care for seniors,” said Steve Sell, chief executive officer, agilon health. “With MaineHealth and our other 2023 physician group partners, we are significantly advancing our vision to transform health care in communities across the country and are well positioned to help more physician groups and now integrated health systems thrive long-term.”
MaineHealth, a not-for-profit integrated health system committed to a vision of, “working together so our communities are the healthiest in America,” provides preventive care, diagnosis and treatment to 1.1 million residents in Maine and New Hampshire. MaineHealth’s vast local hospital system and other services, includes approximately 1,700 providers.
“Our partnership with agilon health is a direct reflection of our vision of ‘working together so our communities are the healthiest in America’,” said Andy Mueller, MD, chief executive officer, MaineHealth. “Through the partnership with agilon heath, we will be accelerating the transition to a payment model defined by value and investing more deeply in our primary care delivery system. The depth of patient need, especially among our growing senior population, necessitates us to think very differently about what the primary care delivery system in our community needs to look like today and in the future.”
With the expected addition of MaineHealth and six other leading physician groups in 2023, agilon health’s footprint will expand to include 23 physician groups, 12 states, 25 diverse geographies, and more than 2,200 primary care physicians. These new partnerships are estimated to add 80,000 Medicare Advantage members on the agilon platform in 2023. In addition, agilon’s partnership model will now include four physician partner types: PCP only groups, multispecialty groups, scaled networks and integrated health systems.
agilon health and MaineHealth have begun implementation work under a signed a letter of intent and expect to finalize the long-term, joint venture agreement in the second quarter of 2022. The six additional new physician group partners expected to join the agilon platform in 2023 will be announced at a future date.
MaineHealth is a not-for-profit integrated health system whose vision is, “Working together so our communities are the healthiest in America.” It consists of nine local health systems, a comprehensive behavioral healthcare network, diagnostic services, home health agencies, and 1,700 providers working together through the MaineHealth Medical Group. With approximately 22,000 employees, MaineHealth provides preventive care, diagnosis and treatment to 1.1 million residents in Maine and New Hampshire. It includes Franklin Memorial Hospital/Franklin Community Health Network in Farmington, LincolnHealth in Damariscotta and Boothbay Harbor, Maine Behavioral Healthcare in South Portland, MaineHealth Care at Home in Saco, Maine Medical Center in Portland, Memorial Hospital in North Conway, N.H., Mid Coast-Parkview Health in Brunswick, NorDx in Scarborough, Pen Bay Medical Center and Waldo County General Hospital in Rockport and Belfast, Southern Maine Health Care in Biddeford and Sanford, Spring Harbor Hospital in Westbrook and Stephens Memorial Hospital/Western Maine Health Care in Norway. MaineHealth Affiliates include Maine General Health in Augusta and Waterville, New England Rehabilitation Hospital in Portland and St. Mary’s Regional Medical Center in Lewiston. It is also a significant stakeholder in the MaineHealth Accountable Care Organization in Portland.
About agilon health
agilon health is the trusted partner empowering physicians to transform community health. Through our partnerships and purpose-built platform, agilon is accelerating at scale how physician groups transition to a value-based, Total Care Model. agilon provides the technology, people, capital, and process and access to a peer network that allow physician groups to maintain their independence and devote the right amount of time to their most vulnerable patients. Together, agilon and its physician partners are creating the healthcare system we need – one built on the value of care, not the volume of fees. The result: healthier communities, and empowered doctors. agilon is the trusted partner in 17 diverse communities and is here to help more of our nation’s best physician groups and health systems have a sustained, thriving future. For more information go to www.agilonhealth.com connect with us on Twitter, Instagram, LinkedIn and YouTube.
agilon health Forward-Looking Statements
Statements in this release that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements regarding our and our officers’ intent, belief or expectation as identified by the use of words such as “may,” “will,” “project,” “expect,” “believe,” “intend,” “anticipate,” “seek,” “target,” “forecast,” “plan,” “potential,” “estimate,” “could,” “would,” “should,” and other comparable and derivative terms or the negatives thereof. Examples of forward-looking statements include, among other things: (i) statements regarding timing, outcomes and other details relating to current, pending or contemplated new markets, new partnership structures, financing activities, dispositions, or other transactions discussed in this release; and (ii) statements regarding growth opportunities, ability to deliver sustainable long-term value, business environment, long term opportunities and strategic growth plan including without limitation with respect to expected revenue and net income, total and average membership, Adjusted EBITDA, and other financial projections and assumptions, as well as comparable statements included in other sections of this release. Forward-looking statements reflect our current expectations and views about future events and are subject to risks and uncertainties that could significantly affect our future financial condition and results of operations. While forward-looking statements reflect our good faith belief and assumptions we believe to be reasonable based upon current information, we can give no assurance that our expectations or forecasts will be attained. Further, we cannot guarantee the accuracy of any such forward-looking statement contained in this release, and such forward-looking statements are subject to known and unknown risks and uncertainties that are difficult to predict. These risks and uncertainties that could cause actual results and outcomes to differ from those reflected in forward-looking statements include, but are not limited to: our history of net losses, and our ability to achieve or maintain profitability in an environment of increasing expenses; our ability to identify and develop successful new geographies, physician partners and payors, or to execute upon our growth initiatives; our ability to execute our operation strategies or to achieve results consistent with our historical performance; our expectation that our expenses will increase in the future and the risk that medical expenses incurred on behalf of members may exceed the amount of medical revenues we receive; our ability to secure contracts with Medicare Advantage payors or to secure Medicare Advantage payments at favorable financial terms; our ability to recover startup costs incurred during the initial stages of development of our physician partner relationships and program initiatives; significant reductions in our membership; challenges for our physician partners in the transition to a Total Care Model; inaccuracies in the estimates and assumptions we use to project the size, revenue or medical expense amounts of our target markets; the spread of, and response to, the novel coronavirus, or COVID-19, and the inability to predict the ultimate impact on us; security breaches, loss of data or other disruptions to our data platforms; the impact of devoting significant attention and resources to the provision of certain transition services in connection with the disposition of our California operations; our subsidiaries’ lack of performance or ability to fund their operations, which could require us to fund such losses; our dependence on a limited number of key payors; the limited terms of our contracts with payors and that they may not be renewed upon their expiration; our reliance on our payors for membership attribution and assignment, data and reporting accuracy and claims payment; our dependence on physician partners and other providers to effectively manage the quality and cost of care and perform obligations under payor contracts; our dependence on physician partners to accurately, timely and sufficiently document their services and potential False Claims Act or other liability if any diagnosis information or encounter data are inaccurate or incorrect; reductions in reimbursement rates or methodology applied to derive reimbursement from, or discontinuation of, federal government healthcare programs, from which we derive substantially all of our total revenue; statutory or regulatory changes, administrative rulings, interpretations of policy and determinations by intermediaries and governmental funding restrictions, and their impact on government funding, program coverage and reimbursements; regulatory proposals directed at containing or lowering the cost of healthcare and our participation in such proposed models; the impact on our revenue of CMS modifying the methodology used to determine the revenue associated with MA members; the potential that we may incur future indebtedness; and risks related to other factors discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021. Except as required by law, we do not undertake, and hereby disclaim, any obligation to update any forward-looking statements, which speak only as of the date on which they are made.
Source: agilon health
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Press Releases Apr 12, 2022
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