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centivo.com

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Founded Year

2017

Stage

Series B - II | Alive

Total Raised

$119M

Last Raised

$51M | 2 mos ago

About Centivo

Centivo operates as a self-funded health plan built specifically for employers and their employees and families. Centivo targets zero healthcare trend and improved healthcare outcomes by rewarding members and providers for smart choices and actions while delivering an exceptional member experience. Centivo serves as a health plan or third-party administrator (TPA) for employers and partners closely with local health plans and TPAs to enhance their offerings.

Centivo Headquarter Location

307 Cayuga Road Suite 170

Buffalo, New York, 14225,

United States

Latest Centivo News

09:00 ET Centivo launches integrated virtual advanced primary care offering

Nov 8, 2021

News provided by Share this article Share this article WASHINGTON, Nov. 8, 2021 /PRNewswire/ -- Centivo , a new type of health plan for self-funded employers anchored around leading providers of value-based care, announced today from the National Alliance of Healthcare Purchaser Coalitions ("National Alliance") Annual Forum in Washington D.C. the launch of its integrated virtual advanced primary care (VPC) offering. Centivo VPC is fully integrated into the core Centivo health plan in partnership with local providers. Unlike traditional telemedicine, which is used in place of, or to supplement, a relationship with a primary care physician, Centivo VPC allows members to regularly see the same primary care physician in a virtual setting. Centivo VPC physicians work in advanced primary care teams including mental health specialists, care navigators, and other healthcare professionals. Centivo VPC patients easily communicate with their primary care physician in real-time through a convenient mobile app. When patients need care outside of their VPC team, Centivo VPC providers use advanced data and analytics to refer them to local, high-value specialists in Centivo's curated networks. Centivo launches its integrated virtual advanced primary care offering into its core health plan Launching VPC is an important addition to Centivo's core health plan since Centivo connects every member with an in-network advanced primary care physician to improve coverage and lower costs. Centivo members can choose either a local primary care physician or a Centivo VPC doctor. "Traditional telemedicine solutions are built to sit outside the health insurance plan versus being connected to it," said Dr. Wayne Jenkins, chief medical officer, Centivo. "Centivo VPC is purposefully designed to fully integrate into the Centivo health plan and its foundational belief in advanced primary care via leading local providers. This seamless collaboration creates a completely different experience for the plan member and is a much better way to manage and direct care within Centivo's curated high-value networks." Centivo VPC comes at a time of unprecedented opportunity for, and acceptance of, virtual care in today's healthcare ecosystem, primarily driven by COVID-19 and the related restrictions on in-office visits. In fact, 46% of patients now say they use telehealth for some visits, compared to 11% in 2019.1 In addition, the number of patients reporting at least one telehealth visit has increased by 57% since the start of the pandemic, while patients with chronic illnesses report a 77% increase in the use of telehealth.2 This increased usage has enormous cost, access and quality of care implications, given that virtual primary care is 95% as effective as traditional primary care at less than half the cost.3 Centivo VPC is currently offered to client employers and their employees in Florida, with expansion into other Centivo markets4 through the first half of 2022. Results from a pilot VPC program with a Centivo client in Florida demonstrated strong member engagement with both existing and newly enrolled employees. "The launch of Centivo VPC reaffirms our mission and model to make advanced primary care the key to reestablishing affordability for the average American worker struggling to pay healthcare bills," said Ashok Subramanian, CEO, Centivo. "According to a 2019 JAMA study, one in four Americans do not have a primary care physician, and the problem is even worse among younger people. Yet all the research points to the many positive care outcomes and cost benefits of strong primary care relationships. Our goal with Centivo VPC therefore is to add virtual care to our already successful advanced primary care model." To learn more, please visit centivo.com/contact . Centivo VPC clinical services are delivered through independent professional entities. 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.

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Research containing Centivo

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CB Insights Intelligence Analysts have mentioned Centivo in 1 CB Insights research brief, most recently on Aug 19, 2020.

Expert Collections containing Centivo

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Centivo is included in 4 Expert Collections, including InsurTech.

I

InsurTech

1,644 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

7,165 items

US-based companies

H

Health Plans & Benefits Management

698 items

Companies developing or offering digital platforms and services, including online insurance marketplaces, data analytics for claims adjustment, benefits administration, and payments systems, that help make private health insurance more affordable, navigable, or transparent.

D

Digital Health

11,292 items

Technologies, platforms, and systems that engage consumers for lifestyle, wellness, or health-related purposes; capture, store, or transmit health data; and/or support life science and clinical operations. (DiME, DTA, HealthXL, & NODE.Health)

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