Bright Health is a diversified consumer-focused health care and technology company, providing a broad range of innovative health care products and health insurance services for consumers and care providers in local markets throughout the U.S.
Bright Health was founded in 2015 to create a more personalized and affordable member experience by improving access to health care and enabling stronger relationships between members and their providers. Over the past five years, Bright Health has seen success scaling their alignment-based health plans, supported by their fundraising success.
Working in close alignment with Care Partners and doctors to create a virtually integrated health care system, Bright Health connects their members to Personalized Care Teams, combining care and coverage to deliver high quality, simpler and more affordable everyday health care. The health plans, which include individual, family and Medicare Advantage plans, are available in 13 states.
Bright Health Plan’s 2021 expansion will include Medicare Advantage, individual and family plans in six new markets in Florida, North Carolina and Illinois. For the first time, they will also be offering employer-sponsored plans in certain markets, subject to final regulatory approval.
Bright Health began offering individual and family plans and Medicare Advantage plans to residents across the state of Florida in 2020. To develop its health plans, Bright Health has worked in collaboration with several of the state’s leading health systems including AdventHealth, Ascension Health, and Tenet Health, among others.
Bright Health’s acquisition of Brand New Day, a California-based Medicare Advantage health plan ties its technology-driven model with Brand New Day’s localized strategy that connects members with complex conditions with primary care physicians to improve care coordination and outcomes.
Working in close collaboration with doctors in their Care Partner Network, Bright Health is able to engage proactively with members, including those with high-risk or chronic conditions, to improve health outcomes and reduce costs through coordinated in-network care.
In late 2019, Bright Health closed on a $635 million round of financing amid a major expansion of health plan products including Medicare Advantage to several new markets for 2020.
Takeaway: Bright Health is finding success with its model in which payers and providers work together to enable fully integrated care