Morgan Health, the JPMorgan Chase & Co. business unit focused on improving the quality, equity and affordability of employer-sponsored health care, announced a $30 million investment in Centivo, an innovative provider of health plans for self-insured employers built to address health care affordability for employees and their families.
Centivo’s model is anchored around relationships with leading accountable care providers with a proven track record of delivering high-quality, cost-effective care.
Centivo works to align incentives between these providers and self-funded employers through timely access to care, affordable and predictable costs and outcomes-based compensation for providers tied to quality and cost-effectiveness.
Through this approach, employers can typically offer health benefit plan options that include free adult and pediatric primary care for all visits, no deductibles, predictable copays for all non-primary care, enhanced patient access and integrated virtual primary care.
Morgan Health’s investment is part of an extended Series B-1 financing. This extension will support Centivo’s rapid growth and expansion amid increased demand from employers and employees.
Launched in 2019, Centivo has continued to expand its reach among self-insured employers and now has a market presence in 13 states. The company’s growing roster of clients include employers with as few as 51 employees as well as numerous Fortune 500 companies.
Morgan Health’s investment in Centivo follows its recent investments in Vera Whole Health, and subsequent investment in Castlight, Embold Health and a research collaboration with Kaiser Permanente.
Earlier this year, Morgan Health began trying a new approach. One based on accountable care and focusing on advanced primary care. JPMorgan Chase’s California employees — numbering around 8,000 —are able to access care through Kaiser Permanente (KP).
In Ohio, Morgan Health is working with Central Ohio Primary Care. The pilot will also test the model that Vera Whole Health has developed, in which Morgan Health has invested $50 million. Vera Whole Health operates a network of primary care centers across 10 states and has an existing relationship with Central Ohio Primary Care. The company purchased care navigation company Castlight Health for $370 million.
Takeaway: Morgan Health is working with the JPMorgan Chase Benefits team to make accountable care solutions available to its U.S. based employees and dependents, while also working to drive greater adoption of accountable care models in the commercial marketplace more broadly