AmeriHealth New Jersey and Cooper University Health Care Transaction Closed
Cooper gains minority interest in AmeriHealth New Jersey
Cranbury, NJ - July 24, 2014 - AmeriHealth New Jersey and Cooper University Health Care announced they have closed the transaction effective July 1 and finalized their agreement to transform the delivery of health care in New Jersey. The venture, announced last April, is unprecedented between a health insurer and hospital system in the state.
Under the transaction, Cooper University Health Care receives minority interest in AmeriHealth New Jersey.
The goal of the collaboration between the two organizations is to work together to develop and offer an expanded suite of co-branded health products and an accountable care model for New Jersey residents.
“We are pleased at the interest we have seen in our Silver Exclusive Provider Organization (EPO) plans that became available on the Individual and SHOP Marketplaces in October,” said Judith L. Roman, president and CEO of AmeriHealth New Jersey. “We are equally excited about the progress made on the accountable care model we have built together, which will enable patients to have easier access to their physicians as well as enhanced communication with them.”
The pay-for-performance model jointly designed by AmeriHealth New Jersey and Cooper University Health Care aims to achieve three key goals:
- Reward the delivery of high-quality and cost-effective care.
- Incent and encourage collaboration and care coordination across the delivery system among the hospital, specialists and primary care physicians.
- Promote clinical integration of a hospital and its medical staff.
“We have been very pleased with our initial co-branded AmeriHealth Cooper Advantage insurance product, which was launched in late 2013. Patients in South Jersey have embraced the program, with over 11,000 enrolling in the first six months. This surpassed our projections by over 400 percent,” said Eli Winkler, senior vice president of Growth and Development for Cooper University Health Care. “This confirms our belief that patients are seeking high-quality, affordable healthcare plans and that they trust Cooper and AmeriHealth New Jersey for their healthcare needs.”
About Cooper University Health Care
Cooper University Health Care is one of the largest health systems in Southern New Jersey with over 100 outpatient offices and its flagship, Cooper University Hospital located in Camden, NJ. It is the premier university hospital serving South Jersey and the Delaware Valley. Cooper has reaffirmed its role as a leader in medical education and research with the opening of Cooper Medical School of Rowan University in 2012, the first four-year allopathic medical school in South Jersey. Cooper is renowned for signature programs in cardiology, cancer, critical care, pediatrics, trauma, orthopedics and neurosciences. Cooper is also home to the only state designated Children’s Hospital in South Jerseyâ€”The Children’s Regional Hospital at Cooper. Over the last decade, Cooper has transformed its Camden City neighborhood into the Cooper Health Sciences Campus. In October 2013, the new MD Anderson Cancer Center at Cooper, a free standing cancer center for comprehensive care, opened on the Health Sciences Campus. Cooper also continues its regional expansion with the opening of new and expanded facilities throughout Camden, Burlington and Gloucester Counties.
About AmeriHealth New Jersey
AmeriHealth HMO, Inc. and AmeriHealth Insurance Company of New Jersey (collectively, AmeriHealth New Jersey) provide health insurance coverage to employers and individuals throughout New Jersey. The company has the largest provider network in New Jersey*, and provides access to hospitals and doctors across the nation. The company is also committed to offering value-added insurance solutions for customers through its innovative wellness and incentive programs and benefits designs.
The company’s managed care plan, AmeriHealth HMO, Inc. is accredited by National Committee for Quality Assurance (NCQA).
AmeriHealth New Jersey and its affiliates are a growing group of insurance and health companies whose product portfolios include health insurance, workers’ compensation, property and casualty insurance, and management services. AmeriHealth New Jersey headquarters are located in Cranbury, NJ. For more information on AmeriHealth New Jersey, visit www.amerihealthnj.com.
* Based on analysis done through an independent source.
Manager, Public Relations
AmeriHealth New Jersey