![]() ![]() Steward paid that physician practice from April 2011 through December 2015, purportedly for cancer center services. GSMC entered into a similar agreement with a separate physician practice. The United States reached a separate settlement agreement with Brockton Urology in February 2022 regarding this conduct. However, from April 2011 through December 2017, GSMC purportedly paid Brockton Urology pursuant to the agreement and Brockton Urology referred patients to GSMC. Steward admits that, since at least January 2012, GSMC had no Prostate Cancer Center of Excellence and Brockton Urology did not provide the services specified in the agreement with GSMC. ![]() (GSMC), a for-profit hospital in Brockton.Īccording to the settlement agreement, in 2011, GSMC entered into an agreement with Brockton Urology Clinic (Brockton Urology) which obligated Brockton Urology to administer a Prostate Cancer Center of Excellence at GSMC. Steward owns and operates Steward Good Samaritan Medical Center, Inc. Steward is one of the largest, private for-profit health care networks in the nation and the owner of multiple hospitals in Massachusetts. We plan to deploy our current MSO model, which we’ve been operating since 2011, to improve quality of care, health outcomes and wellbeing for seniors across eight states, while reducing overall healthcare costs,” said Carlos de Solo, Chief Executive Officer of CareMax.BOSTON – Steward Health Care System LLC (Steward) and several related corporate entities have agreed to pay approximately $4.735 million to resolve allegations that its relationships with several physicians and physician practice groups violated federal law, including the False Claims Act. Despite its public denials, in the signed settlement agreement, Steward “admits, acknowledges, and accepts responsibility” for the facts underlying the government’s allegations. “We are excited to announce the acquisition of Steward’s Medicare value-based care business, which will enable us to significantly accelerate our growth by bringing CareMax’s best-in-class, proprietary value-based care model to the communities in which Steward’s value-based care business operates. Further, CareMax has a committed focus to addressing non-medical social determinants of health, which has proven to have a significant impact on health outcomes. These locations are anticipated to resemble CareMax’s current de novo model, which includes primary care physicians, specialists in high demand, such as cardiologists, pulmonologists, radiologists and others, social services, activity centers and other services. CareMax plans to offer convenient and sophisticated products as well as physical locations in Steward’s markets. Following the transaction, CareMax’s network will expand to approximately 2,000 providers and reach over 200,000 senior value-based care patients across 30 markets.ĬareMax’s focus on whole person health through a unique blend of targeted technology and comprehensive, high-touch care has resulted in improved clinical outcomes compared to peers and traditional Medicare benchmarks. In addition, Steward and its affiliated practices service approximately 387,000 Medicare Advantage Fee for Service patients and 482,000 Traditional Medicare Fee for Service beneficiaries. Steward’s value-based care network of approximately 170,000 patients includes 50,000 Medicare Advantage patients, 112,000 Medicare Shared Savings Program (“MSSP”) patients and 9,000 Direct Contracting (“DCE”) patients. – The acquisition will expand CareMax’s comprehensive and coordinated healthcare delivery system designed to improve overall health outcomes for senior value-based care patients.īringing Whole Person Healthcare to Underserved CommunitiesĬareMax will serve as the exclusive value-based management services organization (“MSO”) across Steward’s Medicare network. In addition, CareMax will fund a Medicare receivable to Steward covering accounts receivable related to 2021 and the pre-close period of 2022. ![]() – CareMax will pay $25 million in cash and issue 23.5 million shares of CareMax’s Class A common stock to the equity holders of Steward at closing, subject to customary adjustments. – CareMax, a tech-enabled provider of value-based care to seniors announced an agreement to acquire the Medicare value-based care business of Steward Health Care System for a combination of cash and stock. ![]()
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