Company Profile: Trusted Health Plan
Background
Trusted Health Plan was a managed care organization based in Washington, D.C., dedicated to enhancing the health outcomes of its members through community-based initiatives and personalized care management. Established in 2013, the organization focused on serving participants in the DC Healthy Families Medicaid Program and the DC Healthcare Alliance Program. Its mission centered on improving health outcomes by deploying case managers and outreach staff into the communities they served, operating Health & Wellness Outreach Centers in those neighborhoods.
Key Strategic Focus
The organization's strategic approach emphasized:
- Community-Based Care: Establishing Health & Wellness Outreach Centers to provide face-to-face health education, case management, and nutritional counseling in local neighborhoods.
- Data-Driven Care Management: Utilizing sophisticated predictive modeling to identify high-risk members and reduce costly emergency and inpatient visits.
- Expansion and Innovation: Demonstrating success in reducing healthcare costs through targeted interventions, with plans to expand nationally.
Financials and Funding
Trusted Health Plan raised a total of $18 million in funding, with Juggernaut Capital Partners serving as the lead investor. The organization was acquired by CareFirst BlueCross BlueShield on January 31, 2020.
Pipeline Development
As a managed care organization, Trusted Health Plan's focus was on enhancing care delivery and health outcomes for its members rather than developing pharmaceutical or medical device products. Key initiatives included:
- Health & Wellness Outreach Centers: Providing members with access to health education, case management, and nutritional counseling.
- Predictive Modeling Systems: Implementing data-driven approaches to identify high-risk members and reduce emergency and inpatient visits.
Technological Platform and Innovation
Trusted Health Plan utilized modern technology to support its operations, including:
- Predictive Modeling Systems: To identify high-risk members and reduce costly emergency and inpatient visits.
- Health & Wellness Outreach Centers: Equipped with technology to provide health education, case management, and nutritional counseling.
Leadership Team
The leadership team included:
- Thomas Duncan: Founder and CEO, who previously founded Community Care LLC and Care Compensation Specialists.
Competitor Profile
In the managed care sector, Trusted Health Plan faced competition from various organizations, including:
- CareFirst BlueCross BlueShield: A major health insurer in the region.
- Alliant Health Plans: A Georgia-based provider offering health insurance plans.
Strategic Collaborations and Partnerships
The acquisition by CareFirst BlueCross BlueShield in 2020 was a significant strategic collaboration, aiming to enhance the delivery of healthcare services in the District of Columbia.
Operational Insights
Trusted Health Plan's community-based approach and data-driven care management strategies positioned it as a significant player in the managed care sector, focusing on improving health outcomes and reducing healthcare costs through innovative, localized care models.
Strategic Opportunities and Future Directions
Post-acquisition, the integration with CareFirst BlueCross BlueShield provided opportunities to expand and enhance healthcare services in the District of Columbia, leveraging combined resources and expertise to further improve member health outcomes.
Contact Information
For more information, visit the official website at www.trustedhp.com.
