The Oncology Institute Joins Lantern’s Cancer Care Network of Excellence
Rhea-AI Summary
The Oncology Institute (TOI) has joined Lantern's specialty care platform, expanding access to cancer care for Lantern members across TOI's community clinics in 5 states. The partnership aims to provide advanced cancer treatment while reducing financial burden for patients. TOI, with over 120 clinicians and 700 team members across 70+ clinic locations, serves a population of over 1.8 million patients. The collaboration focuses on delivering optimal outcomes and patient satisfaction through value-based oncology care, including clinical trials and transfusion services.
Positive
- Partnership with Lantern expands TOI's market reach and patient access
- Large operational scale with 70+ clinic locations across 5 states
- Serves substantial patient base of 1.8 million patients
- Strong workforce with 120+ clinicians and 700+ team members
Negative
- None.
Insights
The partnership between TOI and Lantern represents a strategic move in the value-based healthcare sector, but its immediate financial impact appears While TOI gains access to Lantern's 6 million members across the country, the deal's terms and revenue potential remain undisclosed. TOI's extensive network of 70+ clinic locations and coverage of 1.8 million patients suggests solid infrastructure for scaling, but without specific financial projections or deal terms, the partnership's material impact on TOI's bottom line is uncertain.
The collaboration aligns with broader healthcare industry trends toward value-based care models and specialized provider networks. However, the gradual nature of healthcare network integration and patient adoption patterns suggests this will be a long-term growth driver rather than a near-term catalyst for TOI's stock.
CERRITOS, Calif., Oct. 23, 2024 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI), one of the largest value-based oncology groups in the nation, has joined Lantern’s leading specialty care platform. Now, Lantern members will have access to cancer care at any of The Oncology Institute’s state-of-the-art community clinics across 5 states.
“At TOI, we believe that every cancer patient deserves access to the most advanced care in their community,” said Dr. Dan Virnich, Chief Executive Officer of TOI. “We are excited to be part of Lantern’s network, offering a new cancer care option for employers that prioritizes optimal outcomes, patient satisfaction, and reduces the financial burden often associated with cancer treatment, all in alignment with our mission and the needs of the community.”
“A cancer diagnosis can be one of the most overwhelming moments in healthcare, and our goal is to help employers connect their employees with the best cancer care, when they need it most,” said Nicki MacManus, SVP and General Manager of Cancer Care at Lantern. “Our focus at Lantern has always been to provide employees with access to the top performing specialty care providers, and we are proud to partner with a group like TOI that shares in our commitment to excellence and accessibility.”
About Lantern
Lantern is the specialty care platform connecting people with the best care when they need it most. By curating a Network of Excellence comprised of the nation’s top specialists for surgery, cancer care, infusions and more, Lantern delivers excellent care with significant cost savings to employers and their workforces. Lantern also pairs members with a dedicated care team, including Care Advocates and nurses, for the entirety of their care journey, helping them get back to good health, back to their families and back to work. With convenient access to specialists nationwide, Lantern means quality care is within driving distance for most. Lantern is trusted by the nation’s largest employers to deliver care to more than 6 million members across the country. Learn more about us at lanterncare.com.
About TOI
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.
Investors
Solebury Strategic Communications
investors@theoncologyinstitute.com
FAQ
What is the significance of TOI joining Lantern's Cancer Care Network?
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