Medicare Advantage is a health insurance program that serves as an alternative to Original Medicare. The program includes Parts A and B, whereby Medicare Part A offers payments for in-patient services, except those involving physicians and surgeons. Part B offers payments for procedures that are handled by physicians and surgeons and some outpatient services and medical supplies and equipment. Since 1970, people have been able to access their Medicare benefits through private plans.
The healthcare reform and its effects
Medicare Advantage was introduced to offer competition among health providers in a bid to trigger improvement in care quality. However, this expectation was not materializing, partly due to local markets consolidation, thereby leading to less competition in healthcare jurisdictions. This saw an increase in the cost of administering care through the program, something that motivated the government to come up with regulations.
Therefore, the 2010 Patient Protections Act (Obamacare) was drafted and passed. It helped to reduce federal payments to the Medicare Advantage program so as to bring the costs down to the traditional levels. The Obamacare program also introduced additional bonus payments for plans rated 4 out of 5 stars. The size of the bonus was further increased in 2012 during the launch of the $8.35 billion demonstration project. This would also mean an increase in the number of plans receiving the bonus.
InnovaCare, which is headed by President Richard Shinto, M.D., MBA, and Penelope Kokkinides (Chief Administrative Officer), is a renowned provider of Medicare Advantage. They also offer physician practice services with utmost commitment to providing top quality healthcare in a cost-effective and sustainable manner. InnovaCare uses fully-integrated models that are compatible with modern technology to enhance faster processing of services. The company offers two Medicare Advantage plans: MMM Healthcare in Puerto Rico and PMC Medicare Choice, with as many as 200,000 members.
InnovaCare holds patients as their biggest asset and this motivates them into offering useful services. Quality coordination and innovation are key priorities addressed by the company to help patients receive the best care. InnovaCare Health works as a team to provide solutions to most problems presented by clients and through this commitment they have recorded a satisfaction rate of 99 percent and a lower disenrollment rate. Additionally, InnovaCare has been working on cementing the patient-provider relationship and their activities are driven by efficiency, sustainability and leading physicians according to Penelope Kokkinides. Their models are sustainable and coordinated to cut on costs on the part of clients.