JPMorgan Chase’s new business unit is taking great interest in implementing coordinated primary care for its employees, as indicated by its first investment announced last week.
The unit, Morgan Health, is investing $ 50 million at Vera Whole Health, a primary care company whose model involves a team of doctors, nurses and health coaches supported by clinics and an integrated technology platform that provides data analytics.
Based in Seattle Vera Whole Health It currently operates a network of primary care centers in 10 states. It recently established a partnership with Central Ohio Primary Care, which includes more than 70 practices.
“Its focus since its founding has been holistic patient health,” Dan Mendelson, Morgan Health’s chief executive, said in an email. “His approach is in line with ours and we believe we can be an outstanding strategic partner for the Vera team as we develop a coordinated care model for our employees.”
Morgan Health is JPMorgan Chase’s solo venture after the dissolution of the once-lauded Haven. The joint venture launched by Amazon, Berkshire Hathaway, and JPMorgan three years ago was dissolved in early 2021. About five months later, Morgan Health was established. The unit has a mandate similar to Haven’s: improving care for employees and their families.
Mendelson believes that Vera Whole Health can improve care by moving away from traditional fee-for-service reimbursement and instead aligning financial incentives with services that have a measurable impact on care.
“Vera’s investment will allow our employees and their families to have new options that offer better primary care, better care coordination, and better access to mental health services,” he said.
Initially, Morgan Health’s investment in Vera will be tied to patient engagement and satisfaction, Mendelson said. But in the long term, it will focus on improving results, mitigating cost growth for employees, and objective measures of health equity.
“We are fully aligned with Morgan Health to address health disparities,” Ryan Schmid, Vera’s CEO and co-founder, said in a news release. “This unique partnership will not only give us the opportunity to transform the way healthcare is provided and paid for, it will also address the role that social determinants of health, including racial bias, play in our system.”
Going forward, Morgan Health will continue to invest in companies and models that help it fulfill its mandate. In particular, you are interested in companies that offer assistive navigation services.
“We know that patients need help navigating their benefits, managing their chronic conditions and holistic wellness, and addressing acute healthcare needs,” Mendelson said.
As Morgan Health makes its next moves, the healthcare market, especially the employer-sponsored segment, will no doubt be watching you closely.
Photo: StockFinland, Getty Images