This looks like it could be big. Might be the start of the turnaround.
Coram Healthcare and Aetna U.S. Healthcare Team up to Provide Access To Quality Home Health Care Services
DENVER, April 23 /PRNewswire/ -- Coram Healthcare Corporation (NYSE: CRH) announced today that it has entered into a long-term agreement for the management of home health services for Aetna U.S. Healthcare, Inc., the health benefits unit of Aetna, Inc. (NYSE: AET), in eight states: Massachusetts, New Hampshire, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, and Delaware. Coram will manage the home health network on an exclusive basis in these eight states for certain members enrolled in Aetna U.S. Healthcare's HMO-based plans who are presently not, or who will not be, committed to other networks. Currently, this membership totals approximately 2 million lives.
Coram, through its subsidiary The Coram Resource Network, will manage a network of home health care providers servicing Aetna U.S. Healthcare members who require home health care services, including home nursing, infusion therapy, home respiratory therapy, durable medical equipment, and home hospice care as well as home nursing support for several of Aetna U.S. Healthcare's pioneering disease management programs. Coram and Aetna U.S. Healthcare may expand this relationship to other geographic markets.
Coram and Aetna U.S. Healthcare will work together to incorporate many of Aetna U.S. Healthcare's current participating home health care providers into this network management relationship. Coram will also provide home infusion services to other Aetna U.S. Healthcare members in a number of additional markets under a non-exclusive fee-for-service agreement.
"Aetna U.S. Healthcare is pleased to work with Coram Healthcare as we continually work to improve access to quality home health care services for our members," said Arthur Leibowitz, Aetna U.S. Healthcare's Chief Medical Officer. "For this reason, we developed a comprehensive set of performance standards for Coram, including timeliness of services, physician / member satisfaction, data reporting, case management and quality improvement activities."
"Aetna U.S. Healthcare has demonstrated significant leadership in the healthcare industry, and we view their commitment to this relationship as an indication of their interest in providing access to an organized delivery system for home health services which focuses on member and provider satisfaction," stated Donald Amaral, Coram's Chairman and Chief Executive Officer. "Coram is excited to begin this relationship with Aetna U.S. Healthcare. We have made significant investments in clinical expertise and information systems to manage home health care."
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