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Aetna and Inova Health System Establish New Health Plan Partnership in Northern Virginia

Friday, June 22, 2012 12:03 pm EDT

Dateline:

FALLS CHURCH, Va.

Public Company Information:

NYSE:
AET
"Our mission is to improve the health of the diverse community we serve through excellence in patient care"

FALLS CHURCH, Va.--(BUSINESS WIRE)--Inova Health System and Aetna (NYSE: AET) today announced an exclusive partnership to establish Innovation Health Plans, a jointly owned health plan serving Northern Virginia, including more than 1.1 million residents currently served by Inova. Innovation Health Plans aligns two marquee organizations to provide more affordable, quality health care to Northern Virginia employers and residents, with each organization bringing best-in-class services: Aetna for health benefits administration and care management capabilities and Inova for health care delivery.

The partnership will help to promote clinical integration of the health care community. Inova Health System will engage Inova and community physicians to focus on promoting wellness; improving patient outcomes through better care coordination; and streamlining access to patient information. Aetna will support Inova with technology that makes it easier for physicians to exchange information and track their patients’ care across all settings.

New commercial and Medicare Advantage HMO and PPO products will be offered in Northern Virginia as part of the joint venture expected to begin Jan. 1, 2013. The new products will give employers and consumers access to less expensive, more coordinated and integrated health care fostered by the partnership and engagement with community physicians.

“Our mission is to improve the health of the diverse community we serve through excellence in patient care,” stated Knox Singleton, CEO, Inova Health System. “This innovative relationship with Aetna responsibly addresses long-standing challenges related to the quality and expense of care, physician participation and patient satisfaction. Together, we are streamlining the process to empower patients while better engaging payers and physicians. Taken as a whole, we are forging a higher standard of health care for Northern Virginia consumers.”

“Both Inova and Aetna believe that shared accountability translates into a powerful new value proposition for consumers,” said Mark T. Bertolini, Aetna chairman, CEO and president. “This joint venture with the region’s largest health system signals a new level of Aetna’s commitment to payment reform and stronger provider collaboration. It is a significant step forward for our customers and members. Through our joint arrangement we will deliver a better, more affordable health care experience.”

Currently, Inova provides care to more than 1.1 million Northern Virginia residents annually. Aetna provides health care benefits to approximately 570,000 members in Virginia.

About Aetna

Aetna is one of the nation's leading diversified health care benefits companies, serving approximately 36.1 million people with information and resources to help them make better informed decisions about their health care. Aetna offers a broad range of traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, and medical management capabilities, Medicaid health care management services and health information technology services. Our customers include employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups and expatriates. For more information, see www.aetna.com.

About Inova

Inova Health System is a not-for-profit health care system based in Northern Virginia that consists of hospitals and other health services, including emergency- and urgent-care centers, home care, nursing homes, mental health and blood donor services, and wellness classes. Governed by a voluntary board of community members, Inova’s mission is to improve the health of the diverse community it serves through excellence in patient care, education and research.

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Contact:

Media Contacts:
Aetna
Walt Cherniak, 410-401-9490
cherniakjrw@aetna.com
or
Inova Health System
Tony Raker, 703-645-2736
tony.raker@inova.org
or
Aetna Investor Contact:
Tom Cowhey, 1-860-273-2402
cowheyt@aetna.com