Paladina Health Announces the Acquisition of ModernMed

ModernMed Clinics in 12 States Provide Innovative Model of Direct Primary Care

DENVER--(BUSINESS WIRE)-- Paladina Health, LLC., a direct primary care health services company, today announced the acquisition of ModernMed®, a healthcare service firm providing direct primary care in twelve states through employer-based on-site clinics and private physician practices. The acquisition took effect January 1, 2012.

“Our mission at Paladina Health is to provide unbiased advocacy and outstanding care for our patients,” said Misha Palecek, president of Paladina Health™. “ModernMed’s vision, outstanding network of providers and history of excellent care are a tremendous addition to our efforts.”

Paladina Health’s innovative model of care is built to deliver a concierge-like service experience, improve patients’ health and reduce the total cost of healthcare. This is achieved by:

  • Reducing the number of patients each physician supports by 65-70 percent vs. that in traditional primary care settings, allowing physicians to provide their patients with significantly higher access to care and health coaching;
  • Changing patient payment to a fixed monthly membership fee rather than traditional fee-for-service physician reimbursement (where financial incentives are linked to administering more treatments and procedures);
  • Providing tools that enable patients to make informed, empowered choices about specialist and acute care providers; and
  • Holding its providers accountable for their patients’ health outcomes and satisfaction with their care experience.

“Our model means more personalized and comprehensive appointments and expanded patient access to their care team,” Palecek said. “Better access for employees typically translates to improved employee health, savings in existing healthcare coverage and improved productivity.”

ModernMed’s employer-based on-site clinics and physician practices were originally created with the same goals and operating principles as Paladina Health and complement the Paladina Health care model. ModernMed currently operates 16 physician practice/clinic locations and eight on-site corporate locations. CEO and founder Jami Doucette, MD, MBA, will remain with the company and provide leadership in fulfilling Paladina Health’s direct primary care strategy.

ModernMed Chairman and lead investor Jeff Rusinow heralded the acquisition as an important step forward for both companies.

“When we launched ModernMed, it was a startup effort funded primarily by Wisconsin ‘angel’ investors aimed at making a real difference in health care, and today we’re taking another big step in that direction,” said Rusinow. “Together, Paladina Health and ModernMed can make an even more meaningful impact for our patients and the health care system.”

Paladina Health and the Paladina Health logo are trademarks of Paladina Health, LLC. All other trademarks are the property of their respective owners.

About Paladina Health

Paladina Health’s mission is to provide unbiased advocacy for patients and employers in their quest to improve access to high-quality, affordable healthcare. Paladina Health strives to redefine employer-provided healthcare in the United States. More information is available at www.PaladinaHealth.com.



CONTACT:

Paladina Health
Lauren Moughon, 206-724-3826
[email protected]

KEYWORDS:   United States  North America  Colorado  Washington  Wisconsin

INDUSTRY KEYWORDS:   Health  Hospitals  Other Health  General Health  Managed Care

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