Pearl Health and Wellcare Announce Partnership to Advance Value-Based Care Access in Primary Care

TAMPA, Fla. and NEW YORK, March 12, 2024 /PRNewswire/ -- Pearl Health, a leading technology company focused on physician enablement and risk bearing in value-based care, and Wellcare, the Medicare brand of Centene Corporation (NYSE: CNC), announced today a new partnership to advance value-based care in collaboration with primary care physicians.

The multi-year Medicare Advantage partnership establishes a pathway to sharing increased financial risk, which allows the two organizations to accelerate their collaboration on several innovative initiatives — including value-based care (VBC) models — designed to improve health outcomes and better control costs for Wellcare Medicare Advantage members.

Pearl Health offers data insights, financial tools, practice enablement technology, and a broad range of value-based care services to empower clinical teams to provide more proactive, whole-patient care — giving primary care providers participating in Wellcare's networks the tools and support they need for success in value-based care. The program is already live in South Carolina, and the partnership with Wellcare sets the stage for expansion nationwide as primary care physicians look for greater support in transitioning more of their panel to advanced value-based care arrangements.

"We are pleased to deploy a value-based partnership with Pearl as we work together to improve quality and clinical outcomes for our diverse and complex Medicare Advantage members," said Centene's Medicare CEO, Michael Carson. "We look forward to success as we work collaboratively in South Carolina for Medicare Advantage members."

"This partnership enables Pearl to expand its technology and capabilities across both Traditional Medicare and Medicare Advantage plans," said Michael Kopko, CEO & co-founder of Pearl Health. "With Wellcare's partnership, physicians will now be able to manage their patient panel — focusing on improving quality and lowering costs — more efficiently across a growing portion of their Medicare population."

About Wellcare

For more than 20 years, Wellcare has offered a range of Medicare products, including Medicare Advantage and Medicare Prescription Drug Plans (PDP), which offer affordable coverage beyond Original Medicare. Wellcare is the Medicare brand of Centene Corporation, a leading healthcare enterprise committed to helping people live healthier lives. Beginning Jan. 1, 2022, Centene's Medicare brands, including Allwell, Health Net, Fidelis Care, Trillium Advantage, 'Ohana Health Plan and TexanPlus transitioned to the Wellcare brand. For more information about Wellcare, visit www.wellcare.com.

About Pearl Health

Pearl Health is democratizing access to value in healthcare. Led by provider enablement, risk-bearing, and technology experts, Pearl offers software and services that help providers reimagine how they visualize, understand, and care for their patients. Pearl supports primary care organizations and providers in their transition to value-based care and surfaces data and insights that help them deliver better, more proactive care, decrease total cost of care across patient panels, and optimize performance in risk-bearing models like Medicare's ACO REACH. Since its founding in 2020, Pearl has raised approximately $100M in funding from investors such as Andreessen Horowitz, Viking Global Investors, AlleyCorp and SV Angel, and has grown to serve providers across the United States. Learn more at www.pearlhealth.com.

Media Contacts

Pearl Health:

Dan MacLeod
Director, Product Marketing, Pearl Health
240-603-2887
dan.macleod@pearlhealth.com

Wellcare:

mediainquiries@centene.com

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