Healthcare Outcomes Performance Company, a national leader in musculoskeletal practice and clinical outcomes management solutions, has partnered with Provider Network Solutions to establish a joint venture and form HOPCo Network Solutions.
HOPCo Network Solutions will acquire the existing PNS musculoskeletal value-based care networks across Florida. PNS connects payers with more than 1,100 orthopedic, pain management and podiatry partners to manage more than 1.8 million individuals, according to a press release. Terms of the deal were not disclosed.
The 1,100 new partners are in addition to more than 500 MSK providers already participating in HOPCo’s clinically integrated network (CIN) in Florida. In Arizona, HOPCo’s network includes more than 400 orthopedic providers and is the only CIN in the country managing full population health risk on the global spend of MSK care, explained Rina Vertes, president of value-based care solutions for HOPCo in a statement to Fierce Healthcare.
“It was an obvious opportunity to have both teams work closely together and combine efforts to enhance the current initiatives' effectiveness and expand the scope of offerings to additional payers, ACOs, MSK providers, and patients,” said Vertes. “By doing so, we can increase the quality, savings and value across a much greater scope of the MSK care and spend continuum."
She said the two organizations are a good match, pointing toward PNS’ strong relationships with payers and physicians in Florida through the utilization of its third-party administrator infrastructure that reduces costs. HOPCo has access to deep analytics and digital platforms and can leverage its MSK health programs.
“Over the past 25 years, PNS has grown substantially thanks to the value we have been able to deliver to payers, providers and the community,” said Jose Pelayo, M.D., PNS’ co-founder and CEO in a statement. “With our growth, we needed a partner with experience and expertise in managing more comprehensive risk-based models. That made HOPCo our natural choice.”
PNS President and Chief Strategy Officer Thinh Tran, M.D. will become the new HOPCo Network Solutions CEO, while HOPCo EVP of Growth and Network Strategies Jordan McInerney will transition to COO.
In the last year, HOPCo has entered practice partnerships in Pennsylvania, Florida, Wisconsin, Nevada and other states.
The full transaction is expected to close on or around Sept. 1.