InnovAge Celebrates 35 Years of Transforming Senior Care

Rhea-AI Summary

InnovAge Holding Corp. (Nasdaq: INNV), the largest Program of All-inclusive Care for the Elderly (PACE) provider in the U.S., marks its 35th anniversary of transforming senior care. Since its 1989 founding, InnovAge has expanded from one pilot location to 20 centers across 6 states, serving approximately 7,210 current participants and a total of 24,440 seniors throughout its history.

PACE, available in 33 states and D.C., offers comprehensive care for seniors who might otherwise require nursing home care, funded primarily through Medicare and Medicaid. The company continues to enhance its services with new technologies, PACE-customized electronic medical records, in-house dental and behavioral health care, Medicaid enrollment assistance, and 24/7 support. With proposed federal legislation including the PACE Anytime and Elizabeth Dole Acts, InnovAge aims to expand access to more eligible seniors.

Has helped over 24,400 Seniors Age Safely at Home Since Its Inception

DENVER, Dec. 12, 2024 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (“InnovAge”) (Nasdaq: INNV), the nation’s largest provider of the Program of All-inclusive Care for the Elderly (PACE) based on census, proudly celebrates 35 years of empowering seniors to age independently in their homes and communities.

PACE has been InnovAge's focus since the company’s founding in 1989, growing from a single pilot location to 20 locations in 6 states. As of September 30, 2024, InnovAge served approximately 7,210 participants, and throughout its history, served 24,440 enrolled seniors.

“On behalf of our entire team at InnovAge, we are honored to be able to reach this milestone,” said Patrick Blair, InnovAge CEO. “We want to continue to be at the forefront of expanding access to the nation’s many underserved, eligible seniors through this comprehensive PACE model of care. This aligns with our mission to help seniors across the country live longer, healthier lives with dignity and autonomy — and that care disparities and inequities be eliminated.”

Available in 33 states and the District of Columbia, predominantly through a combination of Medicare and Medicaid funding, PACE provides intimately collaborative and highly coordinated care that addresses all aspects of health for older adults who might otherwise turn to nursing homes. With proposed federal legislation to expand the availability of PACE, including through the PACE Anytime and Elizabeth Dole Acts, Blair says he believes the program is well-positioned to fill a critical need in home-based, integrated care to an even larger group of the aging population.

InnovAge continues to advance its care model to meet the evolving needs of its participants. This includes significant clinical and operational transformations, including new technologies to enhance care, PACE-customized electronic medical records, in-house dental and behavioral health care services, Medicaid enrollment assistance, 24/7 in-home support, after-hours nursing care, and more.

About InnovAge
InnovAge is a market leader in managing the care of high-cost, frail, and predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). With a mission of enabling older adults to age independently in their own homes for as long as safely possible, InnovAge’s patient-centered care model is designed to improve the quality of care its participants receive while reducing over-utilization of high-cost care settings. InnovAge believes its PACE healthcare model is one in which all constituencies — participants, their families, providers, and government payors — “win.” As of September 30, 2024, InnovAge served approximately 7,210 participants across 20 centers in six states. https://www.innovage.com/

Lara Hazenfield InnovAge Public Relations Manager lhazenfield@innovage.com

John Eddy Goldin Solutions for InnovAge InnovAge@goldinsolutions.com

FAQ

How many seniors has InnovAge (INNV) served since its founding in 1989?

InnovAge has served a total of 24,440 enrolled seniors since its founding in 1989, with approximately 7,210 current participants as of September 30, 2024.

What is the current geographic presence of InnovAge (INNV) in 2024?

InnovAge operates 20 locations across 6 states, while PACE services are available in 33 states and the District of Columbia.

What new services has InnovAge (INNV) implemented to enhance its care model?

InnovAge has implemented new technologies, PACE-customized electronic medical records, in-house dental and behavioral health care services, Medicaid enrollment assistance, 24/7 in-home support, and after-hours nursing care.

What potential expansion opportunities exist for InnovAge (INNV) through federal legislation?

InnovAge could expand through proposed federal legislation, including the PACE Anytime and Elizabeth Dole Acts, which aim to increase the availability of PACE services to more eligible seniors.

How many participants does InnovAge (INNV) currently serve as of September 2024?

As of September 30, 2024, InnovAge serves approximately 7,210 participants through its PACE program.