Brand New Day Health Plan Company Profile
Background
Overview
Brand New Day Health Plan, operating under Universal Care, Inc., is a privately held health plan established in 1985. The company specializes in providing Medicare Advantage Prescription Drug Plans (MAPD) to Medicare-eligible seniors and special needs populations across 12 counties in California. With a mission to enhance the quality of life for its members and physicians, Brand New Day focuses on simplifying the healthcare system for its members. The company's model of care is designed to support members, their families, caregivers, and physicians in addressing individual healthcare needs.
Acquisition and Rebranding
In January 2020, Brand New Day was acquired by Bright Health Management, Inc., a move that expanded Bright Health's reach in the Medicare Advantage market and facilitated its entry into California. Subsequently, in 2023, Bright Health announced plans to sell its Medicare Advantage operations, including Brand New Day, to Molina Healthcare. Effective January 1, 2025, Brand New Day will merge with its sister company, Central Health Medicare Plan, and operate under the new name, Central Health Medicare Plan.
Key Strategic Focus
Comprehensive Benefit Programs
Brand New Day offers a range of benefit programs tailored to meet the unique healthcare needs of its members. These programs cater to individuals with Medicare only, those eligible for both Medicare and Medi-Cal (D-SNP), and individuals with chronic conditions such as diabetes, cardiovascular disease, dementia, or mental illness. The company's personalized approach aims to keep members healthy and independent.
Dedicated Healthcare Professionals
The organization employs a team of caring healthcare professionals dedicated to improving the overall well-being of each member. This team collaborates closely with members, their families, and healthcare providers to ensure comprehensive and coordinated care.
Financials and Funding
Revenue and Employee Data
As of the latest available data, Brand New Day Health Plan's estimated annual revenue is approximately $33.8 million, with an estimated revenue per employee of $270,000. The company has a workforce of 125 employees, reflecting a 5% growth in employee count over the past year.
Acquisition Details
The acquisition by Bright Health Management, Inc. in January 2020 was part of Bright Health's strategic expansion into the Medicare Advantage market and the California healthcare landscape.
Leadership Team
Executive Profiles
- Jae Green: Chief Executive Officer
- Vera Atkinson: Chief Development Officer
These executives play pivotal roles in steering the company's strategic direction and operational excellence.
Competitor Profile
Market Insights and Dynamics
The Medicare Advantage market is highly competitive, with numerous players offering a variety of plans and services to cater to the diverse needs of Medicare-eligible individuals. The market is characterized by continuous innovation, regulatory changes, and a focus on value-based care.
Competitor Analysis
Brand New Day's competitors include other Medicare Advantage providers such as Health Connect America. These competitors offer similar services, targeting Medicare-eligible seniors and special needs populations.
Strategic Collaborations and Partnerships
The acquisition by Bright Health Management, Inc. in 2020 and the subsequent planned sale to Molina Healthcare in 2023 highlight Brand New Day's strategic collaborations aimed at enhancing its market position and expanding its capabilities within the Medicare Advantage sector.
Operational Insights
Brand New Day's personalized approach to healthcare, comprehensive benefit programs, and dedicated team of healthcare professionals distinguish it in the competitive Medicare Advantage market. The company's focus on addressing the unique needs of its members contributes to its strong market position.
Strategic Opportunities and Future Directions
The upcoming merger with Central Health Medicare Plan and the rebranding to Central Health Medicare Plan effective January 1, 2025, present opportunities for Brand New Day to leverage combined resources, expand its service offerings, and enhance member experiences. This strategic move positions the company to better serve its members and adapt to the evolving healthcare landscape.
Contact Information
Website: bndhmo.com
Phone Number: 1-866-255-4795
Address: P.O. Box 93122, Long Beach, CA 90809
Note: Effective January 1, 2025, Brand New Day will operate under the name Central Health Medicare Plan.
