Posted in Accountable Care, health reform, JP Morgan Healthcare Conference, Medicare

Must listen JP Morgan Healthcare Conference Webcasts: @MolinaHealth

by Gregg A. Masters, MPH

NOTE: This is the third in a series of ‘Must listen’ webcasts produced at JP Morgan’s 34th Annual Healthcare Conference. The first focused on telehealth sector market leader Teladoc, the second on Centene. For background and details on this august annual gathering, see ‘If It’s January, It’s JP Morgan Healthcare Conference. Remaining companies to detail as they represent important ‘bell weather’ insights relative to their respective sectors, include: Aetna, AthenaHealth, Genomic Health,Universal American, Tenet Health, as well as several from the ‘non-profit’ (tax exempt) sector including Baylor Scott and White

Molina Healthcare’s operations and strategy positioning insights are similar to Centene and in many ways constitute bell weather operators in the same space. Market and performance comparisons are material on a number of levels including the ‘urge to merge’ in the HMO or managed care space, and the implications such continuing consolidation holds for movement towards clinical and financial integration in the provider space. Additionally as many predict the future viability of the Medicare Trust Fund may rely largely on the efficacy of how Part C stakeholders articulate a sustainable vision of Medicare Advantage program to extend and enhance the life cycle of the Medicare program itself.

For direct link to the JP Morgan Healthcare Conference, click here. For the associated Molina Healthcare profile, click here, the deck here and webcast, here.

Meanwhile, below are some slides which outline the company’s performance and market sector overall:

JPM_MolinaHealthcareJPM_MolinaHealthcare_revenueJPM_MolinaHealthcare_membership

 

JPM_MolinaHealthcare_home_community
JPM_MolinaHealthcare_medicaid
JPM_MolinaHealthcare_medicaid_growth JPM_MolinaHealthcare_medicaid_spend

JPM_MolinaHealthcare_acquisition JPM_MolinaHealthcare_year_ahead

 

 

Posted in Accountable Care, health reform, JP Morgan Healthcare Conference

Universal American: No Where to Be Found at JP Morgan Healthcare Conference 2015

By Gregg A. Masters, MPH

JP Morgan 22rd Annual Healthcare Conference

 

In preparing for my trip from San Diego to San Francisco to cover the 33rd Annual JP Morgan Healthcare Conference, see: ‘JPMorgan Healthcare Conference 2015: 33 Years Later We’re Still Searching…’ I’ve been speculating about the broader investment themes that many in the life sciences, biotech and pharma investment banking space may NOT be pondering given prevailing quarterly or year over year EPS event horizons.

In the post Affordable Care Act (ACA) era and with the ‘repeal and replace’ crowd chants notwithstanding the strategic imperative has not – and will never – change. The ‘all in’ from a total cost of care perspective pursuit of the ‘triple aim’ (better care, better outcomes, lower per capita costs) MUST be the ‘holy grail’ of any and all relevant investment themes valuing the quest for a sustainable public/private healthcare economy. Unfortunately too many niche market ‘exit calculations’ still seek to extract returns from a collapsing, volume incentivized – if not ‘burning platform’.

Whether the ACA is repealed or not (highly unlikely) its underlying value basis with a focus on population health and accountable care – including all of it’s derivative expressions (patient centered medical homes, patient empowerment via digital health technologies, pricing transparency plays, etc.) will remain the forward operating vision and quest of the day – if not decade.

In 2013 I focused on one publically traded company Universal American’s (UAM) ‘Healthy Collaboration’ ACO business model, see: ‘Universal American: A Healthy Collaboration’ and followed that post in 2014 with ‘Universal American: A Sign of Things to Come?’. As a reporting company their operating results would be useful to gage the progress towards ‘accountable care’ from a representative national and for-profit operator.

Before scanning the agenda for JPM15 presenting companies, I tweeted:

Gregg Masters @2healthguru
Curious if Universal American will report #ACOs or MA plans at #JPM15. 2013 session here: bit.ly/1g4CKZ5 pic.twitter.com/cs8eXMCdn4

Then upon determining they were not on the schedule this year I reported the ACO Revenue result sourced from their Q3 10Q 2014 filing:

Gregg Masters @2healthguru
RE: UAM ‘ACO Revenue’ #JPM15 pic.twitter.com/pgnd8QzQBb

UAM ACO Revenue 10Q Q3

To wit, Fred Goldstein (@fsgoldstein) the principal at Accountable Health LLC and Executive Director at the Population Health Alliance (PHA) ‘sarcastically noted:

Fred Goldstein @fsgoldstein RT @2healthguru: RE: UAM ‘ACO Revenue’ #JPM15 pic.twitter.com/VcnxmEF1mn …. Not bad 10% achieved shared savings he said sarcastically..#ACO

So, what does it mean if anything? We shall see if this is an artifact or non-appearance for perfectly reasonable causes, i.e. perhaps as banal as UAM no longer banks with JP Morgan, or maybe it’s a purposeful retrenchment by UAM leadership to not have to explain away their inability to perform on the ACO strategy.

Your thoughts?