employer, Pharmacy Benefit Managers

Haven Lives, To a Degree: Morgan Health Launched

Posted on by John Santilli
21
May

JPMorgan Chase unveiled its new healthcare company, dubbed Morgan Health, which its top executive told Becker’s Hospital Review can be viewed as a continuation of Haven, an ambitious healthcare venture that recently disbanded. 

Haven was shut down in early 2021. Many of the Boston-based firm’s 57 workers were expected to be placed at Amazon, Berkshire Hathaway or JPMorgan Chase as the firms each individually push forward in their efforts.

Morgan Health has a much more simplified business structure, as it is a unit of JPMorgan Chase. Also, it has a philosophy of striking partnerships to meet its goals rather than working from the ground up. 

Morgan Health initially will focus its efforts on improving care for JPMorgan Chase’s 285,000 employees and dependents employees, but its long-term goals are to become a leader at improving healthcare in the U.S. and to create a successful model other employers can adopt.

Morgan Health said it has three core focus areas at its launch: improving healthcare by investing $250 million into organizations that are improving employer-sponsored healthcare; piloting new benefits for employees; and promoting healthcare equity for its employees and the broader community. 

Morgan Health said it is working to create improved primary care capacity to enable employees to better navigate the healthcare system. One example of this is instead of having employees see just a primary care physician, they would be directed to a clinic that leverages more healthcare talent, such as pharmacists and nurses, to improve health outcomes. 

Morgan Health said it will work with a range of partners, including provider groups, health plans and other employers. One such organization is CVS Health/Aetna, which is one of JPMorgan Chase’s insurance carriers. Also, prescription drug coverage is administered by CVS Caremark.

 

Takeaway: Morgan Health is an attempt to restart JPMorgan Chase’s leadership in employer healthcare by collaborating with healthcare organizations