Commenting on 3Q2016 results, Richard Barasch, the CEO and Chairman of Universal American Corporation (NYSE:UAM) reported that the company recorded a positive and productive quarter continuing a year. During this period, the core Medicare businesses have considerably enhanced and they have streamlined the firm to enable them to focus on these vibrant operations.
Universal American has closed a full corporate makeover in which they have sold the remaining operations that don’t go well with company’s core strengths, minimized outstanding share number by 31% and closed the APS Healthcare litigation. After all this measures, including the large stock buyback and release of the convertible debt, they closed the quarter with available cash over $100 million at the parent.
Another promising recent progress is that company’s flagship, Texas HMO enhanced to a rating of 4.5 star and thus weighted average star score jumped to 4.12 stars for the entire firm. It is the outcome of persistent hard work by doctor associates and company’s staff all geared toward enhancing the healthcare quality that they deliver to members and advanced physician centric plan.
Universal American’s foundational forte is its proven ability to team up with key care physicians to enhance health outcomes while minimizing cost in the Medicare population. The preliminary care is the least expensive section of the care continuum provided the incentives and right tools primary care physicians sport the greatest leverage to improve the quality and reduce cost of healthcare.
Over the past 15 years, the company have established a platform that integrates efficient use of care management and data protocols with the dire work of founding trust with physician associates. They now have more than 350,000 Medicare recipients on this stage in Medicare Advantage, Next Gen ACOs, and Medicare Shared Savings ACOs, with over 5,000 physicians and linked clinical professionals in some kind of advanced reimbursement model, mainly gain share.
In Texas HMOs, Universal American has a successful history of risk sharing with main care docs in 2016. The company introduced a next-gen ACO that brings nearly 13.5 thousand more Medicare beneficiaries into Advanced care model.