Independent Health plans to join fellow nonprofit insurer MVP Health Care, according to a Nov. 18 news release.
Together, the organizations would encompass more than 1 million members, $7 billion in annual revenue and more than 3,000 employees.
“Joining the MVP Health Care family allows us to innovate further while staying true to the communities we serve,” said Michael Cropp, MD, president and CEO of Independent Health. “By aligning our strengths and shared values, we are not only preparing for today’s challenges — but we are designing health care for the future, where every person feels empowered and supported to achieve their best health.”
The organizations hope the move will advance MVP’s Empowered Well-Being vision, boost provider collaboration, elevate pharmacy services and implement technology for care navigation.
Each group’s board of directors unanimously approved the transaction. The insurers are still awaiting regulatory approval to move forward.
At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.