TOLEDO, Ohio, Sept. 27, 2019 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) today announced a strategic collaboration with CareMore Health to improve care, outcomes and to reduce the total cost of care for the senior populations living in select Welltower communities.
The initial focus of the collaboration will be to integrate CareMore's clinical programs and onsite care models at Welltower communities in Los Angeles and Orange County in collaboration with Welltower operating partners Belmont Village and SRG Senior Living. Following the implementation of these programs, CareMore and Welltower will look to expand this partnership more broadly into other regional and national markets.
"Welltower is proud and excited to announce this first of its kind collaboration with CareMore Health. We firmly believe that this innovative partnership will demonstrate the benefits of managing the complex health care needs of seniors in lower cost settings with the goal of achieving improved outcomes," said Thomas J. DeRosa, Welltower's Chairman and CEO. "The joining of Welltower's best-in-class operator platform and the outstanding care-based navigational tools and programs offered by CareMore Health, will benefit not only our resident senior population, but will offer a true model of value-based health care."
This programmatic collaboration links the operating capabilities of Welltower's independent and assisted living operating partners with the world-class clinical model and programs developed by CareMore, which are uniquely suited to address community-based senior populations. In addition, the partnership will introduce residents in the facilities to Medicare Advantage institutional special needs plans (I-SNP) offered through CareMore's partnering health plans. CareMore clinicians deliver and manage care for patients enrolled in these special needs plans.
"We are pleased to bring CareMore's high-touch integrated model to Welltower communities to deliver world-class on-site care to their residents," said CareMore president Sachin H. Jain, MD, MBA. "By deploying our interdisciplinary care teams of physicians, nurse practitioners, and pharmacists into these communities we aim to continue our mission that includes making high-quality, compassionate health care easy to access. We look forward to this collaboration with Welltower that will serve as a model for effective care."
Residents enrolled in the CareMore program will have access to CareMore's mobile interdisciplinary team of nurses, doctors, behavioral health specialists, pharmacists, case managers, and clinical coordinators to implement personalized care plans. The CareMore team, along with participating assisted-living wellness staff, will work closely together with the goal to increase access to care, shorten and reduce avoidable hospital stays, reduce polypharmacy, ensure successful transitions across settings, and enable residents to safely age in place.
Benefits of this collaboration will be actualized through the creation of operational efficiencies that leverage each organization's expertise. Through this collaboration, we anticipate improved health and wellness of the resident population, while prioritizing the growing national interest in leveraging value-based payment methodologies that emphasize improved care at a lower cost.
Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower™, a real estate investment trust (REIT), owns interests in properties concentrated in major, high growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. For more information, visit www.welltower.com.
About CareMore Health
CareMore Health is a physician-founded, physician-led integrated care delivery system that harnesses the power of teamwork to treat the whole person. Through a focus on prevention and highly coordinated care, its clinical model and designed-for-purpose approach to managing chronic disease proactively addresses the medical, social and personal health needs of its patients, resulting in clinical outcomes above the national average and ultimately, healthier people and communities.
Today, the CareMore delivery system provides care for enrollees in Medicare Advantage and Medicaid health plans in Arizona, California, Colorado, Connecticut, Iowa, Nevada, Tennessee, Texas, Virginia, and Washington, DC. CareMore also is participating in a dual demonstration project in parts of Los Angeles County in conjunction with state and federal regulators to coordinate care for people eligible for both Medicare and Medicaid. To learn more about CareMore Health, visit www.caremore.com and follow us on Twitter, Facebook and LinkedIn.
This press release may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the Company's actual results to differ materially from the Company's expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to, those factors discussed in the Company's reports filed from time to time with the SEC. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.
View original content to download multimedia:http://www.prnewswire.com/news-releases/welltower-announces-strategic-collaboration-with-caremore-health-bringing-high-quality-integrated-care-to-senior-communities-to-improve-care-coordination-and-outcomes-300926868.html
SOURCE Welltower Inc.