The Oncology Institute and SilverSummit Healthplan Partner to Provide Oncology Care to Over 80,000 Medicaid Members in Nevada
Rhea-AI Summary
The Oncology Institute (NASDAQ: TOI) has announced a significant partnership with SilverSummit Healthplan, becoming the exclusive oncology provider for over 80,000 Medicaid patients in Nevada, effective July 1. This expansion marks an important step in TOI's mission to provide value-based cancer care to underserved communities.
The partnership will operate through three Nevada locations in Las Vegas, Henderson, and Spring Valley, offering comprehensive cancer care services to SilverSummit Healthplan members. This collaboration aligns with TOI's track record of serving Medicaid patients and SilverSummit's commitment to providing high-quality healthcare access to its members.
Positive
- Exclusive provider agreement covering over 80,000 Medicaid patients in Nevada
- Strategic expansion of TOI's presence in the Las Vegas market through three locations
- Extension of existing successful partnership with SilverSummit Healthplan
Negative
- None.
Insights
TOI secures exclusive oncology provider status for 80,000 Nevada Medicaid patients, strengthening its value-based care model and expanding market reach.
The partnership between The Oncology Institute (TOI) and SilverSummit Healthplan represents a significant business expansion for TOI in the Nevada market. As the exclusive oncology provider for over 80,000 Medicaid patients, TOI gains a substantial new patient population in a single transaction.
This deal strengthens TOI's position in value-based oncology care - their core business model - and demonstrates their continued success in the Medicaid segment. Value-based care models typically align financial incentives with patient outcomes rather than service volume, potentially offering more predictable revenue streams.
The exclusivity component is particularly noteworthy, as it effectively creates a captive patient referral network and eliminates direct competition for this specific patient population. This arrangement should translate to increased patient volume across TOI's three Nevada facilities without requiring significant additional infrastructure investment.
TOI's expansion strategy appears focused on leveraging existing capabilities to serve new patient populations through partnerships with payers. This approach allows for scalable growth without the capital expenditures typically associated with de novo market entry. The company's ability to secure this contract also validates their service quality and competitive pricing model in the specialized oncology space.
For context, Medicaid reimbursements are typically lower than commercial insurance, but the volume and predictability of this patient population may offset lower per-patient margins. Additionally, TOI's mention of their "longstanding track record" with Medicaid patients suggests operational efficiency in managing this payer mix.
CERRITOS, Calif., June 30, 2025 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI”), one of the largest value-based oncology groups in the United States, announced today that effective July 1, it will be the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada. TOI is known for bringing state-of-the-art cancer care to the communities it serves, and their presence in the Las Vegas market will provide enhanced access to care and high-level services to the important Medicaid population here.
“We couldn’t be more excited about the opportunity to expand our partnership with SilverSummit and help create improved access and quality of cancer care to their Medicaid patient population,” commented Daniel Virnich, MD, CEO of The Oncology Institute. “We have a longstanding track record of providing outstanding care to Medicaid patients in other markets, and we look forward to broadening these efforts within the Las Vegas community.”
“At SilverSummit Healthplan, our top priority is ensuring our members receive the highest quality care, especially when facing a cancer diagnosis,” said Eric Schmacker, Plan President and CEO at SilverSummit Healthplan. “Partnering with The Oncology Institute allows us to connect our Medicaid members with compassionate, expert oncology care close to home—helping them navigate their treatment journey with confidence and support.”
Patient Impact
SilverSummit Healthplan members can now access TOI’s comprehensive cancer care at three convenient Nevada locations:
- Las Vegas
2911 N. Tenaya Way, Suite 210, Las Vegas, NV 89128
Phone: 702-342-1244
Hours: Monday – Friday: 8:30 am – 5:00 pm - Henderson
2904 W. Horizon Ridge Pkwy, Suite 200, Henderson, NV 89052
Phone: 702-471-7779
Hours: Monday – Friday: 8:30 am – 5:00 pm - Spring Valley
6450 Medical Center St., Las Vegas, NV 89148
Phone: 702-739-9518
Hours: Mon., Wed., & Fri.: 8:30 am – 5:00 pm; Tue. & Thu.: Closed
About The Oncology Institute
Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of over 1.8 million patients including clinical trials, transfusions, and other services traditionally associated with the most advanced care delivery organizations. With over 120 employed clinicians and more than 700 teammates in over 70 clinic locations, TOI is changing oncology for the better.
For more information, visit www.theoncologyinstitute.com.
About SilverSummit Healthplan
SilverSummit Healthplan is a managed care plan that provides Medicaid and marketplace health insurance to the people of Nevada. Established in 2017, SilverSummit exists to improve the health of its members through focused, compassionate and coordinated care. SilverSummit is a Centene Corporation company. For more information, visit www.silversummithealthplan.com.
Contacts
Media
The Oncology Institute, Inc.
marketing@theoncologyinstitute.com
Investors
Solebury Strategic Communications
investors@theoncologyinstitute.com
FAQ
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