UMass Memorial Health, the largest healthcare provider in Central Massachusetts, confirmed it is starting its own health insurance division. The insurance company called Central Mass Health LLC will be organized under the UMass Memorial Health Ventures umbrella, which is for all the non-hospital aspects of the UMass Memorial system.
- New Decisions: The announcement came after the highly popular CEO of UMass Memorial Health, Eric Dickson, joined by Thomas Scully and Jack Shields, incorporated a company on Feb. 11 called Central Mass Health LLC, which will be headquartered in Worcester at a UMass Memorial building known as Biotech One.
- Goal towards integrated healthcare: UMass spokesman Anthony Berry said, ” “The establishment of Central Mass Health is in keeping with our long-term strategy to become a more integrated healthcare delivery network. Over time we have built a lot of assets – including a strong provider arm – but have felt that an important missing piece to achieving total integration was an insurance product.”
- UMass becomes a highly expanded platform: The UMass Memorial system includes hospitals in Worcester, Marlborough, Leominster, Southbridge, and Clinton, has more than 14,000 employees, and its own doctors’ group. The system annually contributes $200 million to the state’s medical school – UMass Medical School in Worcester.
- Aims for facilitation of healthcare: In documents filed with the Secretary of State, Eric Dickson, CEO of UMass Memorial Health, said Central Mass Health will facilitate care through managed care programs, health organizations, and alternative health programs.
- Aims to expand nationwide: UMass recently plans to bring in a strong and accomplished leader to serve as CEO of Central Mass Health, said Berry. “We believe, in general, payer-provider integration is a much better model that brings great benefits to patients,” he said. “We will continue to work with other insurance providers.”
