LOUISVILLE, Ky. — A few months after halting work on a new wellness center in west Louisville, Passport Health Plan has a new long-term financial and operating partner. Evolent Health, a national, value-based care partner, has agreed to work alongside Passport to serve the Kentucky Medicaid Market.
Passport Health Plan has provided Medicaid managed care services in Kentucky since 1997 and serves more than 300,000 members statewide. The future of the company appeared to be in jeopardy in March, while it was seeking relief from a reduction in reimbursement rates that disproportionately affected Medicaid beneficiaries in Louisville.
Evolent has provided services to Passport since 2016 and will now acquire ownership interest in the company and expand the scope and term of its long-term Management Services Agreement with the health plan, according to a press release.
In this new agreement, Passport will be jointly owned and operated through a partnership between Evolent, the University of Louisville, University of Louisville Physicians, University Medical Center, Jewish Heritage Fund for Excellence, Norton Health Care, and the Louisville/Jefferson County Primary Care Association.
Evolent says that they still plan to maintain all Kentucky operations under the Passport name. Evolent Health Chief Executive Officer Frank Williams says that the company is "honored" by the partnership.
"We are confident that by leveraging our value-based care platform and the full scope of our clinical programs, as well as providing enhanced functional expertise, we can drive strong operational and financial performance," he said.
Officials with Passport say that the company has a "bright future ahead" and that Evolent and Passport will work together to make the West Louisville Health and Wellbeing Campus a reality.
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