Transformative vision to improve the health of
millions of people by increasing access to value-based care and
coverage extending to North
Carolina.
WASHINGTON and GREENSBORO, N.C., June 21,
2024 /PRNewswire/ -- Cone Health and Risant
Health have signed a definitive agreement under which Cone Health
will become part of Risant Health, pending regulatory approvals.
Risant Health is a nonprofit, charitable organization created by
Kaiser Foundation Hospitals to bring together like-minded
organizations, increase access to value-based care and coverage,
and raise the bar for approaches that bring the best health
outcomes.
"Cone Health's impressive work for decades in moving value-based
care forward aligns so well with Risant Health's vision for the
future of health care. Their longstanding success and deep
commitment to providing high-quality care to North Carolina communities make them an ideal
fit to become a part of Risant Health. We will work together to
share our industry-leading expertise and innovation to expand
access to value-based care to more people in the communities we
serve," said Risant Health CEO, Dr. Jaewon
Ryu, JD.
Founded in 1953, Cone Health is a nonprofit health care network
serving more than a half a million people in the Piedmont Triad of
North Carolina. Cone Health has
more than 13,000 employees and more than 700 physicians, along with
1,800 partner physicians. The health system includes a network of
four acute care hospitals, a behavioral health facility, an
accountable care organization and a health plan. Cone Health treats
patients covered by a wide range of commercial health insurance,
individual and family plans, Medicare, and Medicaid. Cone
Health's Triad HealthCare Network (THN) is a doctor-led Accountable
Care Organization (ACO), managing and coordinating care for nearly
200,000 patients in Alamance,
Guilford, Randolph, Rockingham and part of Forsyth counties.
"Becoming part of Risant Health presents a unique opportunity to
shape the future of health care in the Triad, the state, and across
the nation," said Cone Health president and CEO, Dr. Mary Jo Cagle. "As part of Risant Health, Cone
Health will build upon its long track record of success making
evidence-based health care more accessible and affordable for more
people. The people across the Triad will be among the first to
benefit," she said.
Cone Health will maintain its brand, name and mission, and
maintain its own board, CEO and leadership team. It will continue
to work with health plans, provider organizations and independent
physicians. "Cone Health customers will see the same doctors, the
same nurses and the same staff in the same locations they do today.
We do not anticipate changes in the types of care we provide as a
result of becoming part of Risant Health," said Dr. Cagle.
Cone Health, like other health systems that become part of
Risant Health, will operate independently as a regional and
community-based health system. It will continue serving and meeting
the needs of its communities, while gaining expertise, resources
and support through Risant Health's value-based platform.
Cone Health will be the second health system to become part of
Risant Health. Geisinger was the first health system to become part
of Risant Health earlier this year.
Through Risant Health, Cone Health will benefit from Geisinger's
and Kaiser Permanente's leadership in value-based care, a
health care delivery and financing model that improves health and
increases access to affordable care in the community through
evidence-based care, and a commitment to equity, simplicity and
aligned incentives.
Greg Adams, chair of the Risant
Health board of directors, said, "Risant Health refuses to accept
that fragmented, episodic, fee-for-service care should define the
future of health care. Risant Health has put a stake in the ground
that care focused on evidence, equity, population health and
improved outcomes must be the future of health care. Models like
that of Kaiser Permanente, Cone Health and Geisinger will help make
that possible." Adams also serves as chair and CEO of Kaiser
Foundation Health Plan and Hospitals.
"This is an important milestone on our 'success to significance'
journey," said Mae Douglas, chair,
Cone Health board of trustees. "After more than a year of work
involving teams of physicians, executives and others, the Cone
Health board of trustees voted to become part of Risant Health.
Through this agreement, we will continue to improve upon our long
tradition of providing health and well-being to those we serve,"
she said. "Our communities can expect the same high level of care
they receive today, as well as through Triad HealthCare Network and
our various community-based outreach programs."
The Cone Health transaction is subject to regulatory approvals
and customary closing conditions.
About Cone Health
Cone Health is a
not-for-profit health care network serving people in Alamance, Forsyth, Guilford, Randolph, Rockingham and surrounding counties. Our brand
promise – We Are Right Here With You – is shared by our more than
13,000 employees, 1,800 physician partners and 1,000 volunteers.
Learn more about Cone Health.
About Risant Health
Risant Health is a
nonprofit, charitable organization headquartered in Washington, D.C., with a transformative vision
to improve the health of millions of people by increasing access to
value-based care and coverage. Risant Health is dedicated to
bringing together like-minded, nonprofit community-based health
systems from across the country in order to deliver better health
outcomes through value-based care approaches. Risant Health's
value-based platform will support its health systems with a set of
technology, services, and capabilities designed to deliver superior
health outcomes and a lower total cost of care in diverse business
models. Risant Health was created by Kaiser Foundation Hospitals in
2023. Learn more about Risant Health.
For more information, contact:
Risant Health
Steve
Shivinsky
Director, National
Media Relations
stephen.shivinsky@risanthealth.org
|
Cone Health
Doug Allred,
APR
External Communications
Manager
Douglas.Allred@conehealth.com
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cone-health-to-become-part-of-risant-health-302178649.html
SOURCE Risant Health