Network Medical Management (NMM), a management services organisation of Apollo Medical Holdings, has signed a management services agreement (MSA) with Accountable Health Care IPA in California to manage 160,000 patients.
The MSA will be valid for a period of ten years.
Besides all hospital risk pools, NMM will manage all health plan members assigned or delegated to Accountable IPA. This will be supported by the ApolloMed’s population health management platform, which includes administrative, clinical and technology capabilities.
Pursuant to the MSA, a variable interest entity (VIE) of ApolloMed has provided a line of credit of up to $18m to Accountable IPA to fund working capital requirements.
The ApolloMed VIE shall have the right to exchange a portion or the entire principal amount into shares of Accountable IPA’s capital stock.
Apollo Medical Holdingsco-CEO Warren Hosseinion said: “We are very pleased to announce this new transaction with Accountable IPA, which will add 160,000 patients to our population health management platform.
“Our integrated platform now has over 860,000 patients who are under value-based capitation arrangements with multiple health plans.”
Set up in 1993, Accountable Health Care IPA offers healthcare services to over 160,000 patients through a network of over 450 primary care physicians and 1700 specialty care physicians.