Find out more →

Get unlimited access. Become a digital member!

Wednesday, April 2, 2014

Catholic Health Initiatives acquires Qualchoice

Posted By on Wed, Apr 2, 2014 at 7:23 PM

Catholic Health Initiatives has executed a stock-purchase agreement to acquire QualChoice Holdings, the parent company of QCA Health Plan and QualChoice Life and Health Insurance Company. Catholic Health Initiatives is a national non-profit health system, headquartered in Colorado, comprising more than 80 hospitals, including St. Vincent in Little Rock. 

QualChoice, headquartered in Little Rock, is one of four carriers offering plans on the Arkansas Health Insurance Marketplace, including for beneficiaries of the private option. The move could give QualChoice a little more muscle to compete on the Marketplace. 

Press release after the jump. 

Catholic Health Initiatives Reaches Agreement On Acquisition of QualChoice Holdings

LITTLE ROCK, Ark. – April 2, 2014 – Collab Health, a wholly owned subsidiary of Catholic Health Initiatives, has executed a stock-purchase agreement to acquire QualChoice Holdings, Inc.. Catholic Health Initiatives (CHI), one of the nation’s largest nonprofit health systems, operates St. Vincent Health System in Little Rock.

QualChoice Holdings, headquartered in Little Rock, is the parent company of QCA Health Plan, Inc., and QualChoice Life and Health Insurance Company, Inc. The transaction will provide Catholic Health Initiatives with ownership and control of QualChoice Holdings. The pending acquisition for an undisclosed amount is subject to final regulatory approval from the Arkansas Insurance Department. 

“CHI, through St. Vincent Health System, has been a partner with QualChoice since our inception and we are excited to now be a part of a national organization of such high quality,” said Mike Stock, CEO of QualChoice Holdings. “We have always had an excellent relationship with St. Vincent and look forward to working as part of Catholic Health Initiatives in the future.”
QualChoice Holdings, Inc., was organized in 2010 as a parent holding company following the acquisition of Community Bank Life and Health Insurance Company in 2009 and its restructuring as QualChoice Life and Health Insurance Company, Inc. QCA Health Plan is a health-maintenance organization created in 1996 and is licensed in all 75 Arkansas counties.
"Making an investment in a quality health plan such as QualChoice is integral to CHI's population health strategies, which we believe will help improve the future of affordable access to health and wellbeing for the people of Arkansas and many other communities we serve,” said Juan Serrano, CHI’s senior vice president, payer strategy and operations. “We regard Arkansas as a fantastic place to develop our health insurance capabilities as we strive to better serve communities here and across the nation.”
St. Vincent has been a participant in the provider network of QCA Health Plan since its inception and an investor since 1999. Other key investors in QualChoice include TriZetto Corporation; the University of Arkansas for Medical Sciences; Tenet HealthSystem Medical, Inc.; Arkansas Children’s Hospital; and QualChoice of Arkansas, Inc.
Mark Bjornson, CHI’s vice president, commercial and government health programs, praised the work of Arkansas Insurance Commissioner Jay Bradford, whose involvement was integral to a transaction that “CHI believes will provide significant benefits and help to further our mission of building healthier communities.”
No immediate changes in QualChoice operations are anticipated by the change in ownership and there will be no changes in provider network participation by any QualChoice provider investors.
About QualChoice: QualChoice is an Arkansas-based health services company offering a comprehensive line of health benefit and ancillary products on both a fully insured and self-insured basis. The company is a market innovator in providing competitively priced managed care products and excellent customer support. Headquartered in Little Rock, Arkansas, the company is the second largest managed care company in the state. It also operates an office in Springdale, Arkansas. For more information visit www.qualchoice.com.
About St. Vincent Health System: St. Vincent Health System, founded in 1888, is one of Arkansas’ leading health systems. St. Vincent Infirmary Medical Center, an acute care facility, located in Little Rock, serves as the hub of the health system. Other St. Vincent hospitals include St. Vincent North in Sherwood and St. Vincent Morrilton in Morrilton. The system also includes a network of primary care clinics, a home health agency and affiliations with more than 650 physicians. St. Vincent is part of Catholic Health Initiatives (CHI), a national nonprofit health system with headquarters in Englewood, Colorado.
About Catholic Health Initiatives: Catholic Health Initiatives, a nonprofit, faith-based health system formed in 1996 through the consolidation of four Catholic health systems, expresses its mission each day by creating and nurturing healthy communities in the hundreds of sites across the nation where it provides care. One of the nation’s largest health systems, Englewood, Colo.-based CHI operates in 18 states and comprises 87 hospitals, including four academic medical centers and teaching hospitals and 23 critical-access facilities; community health-services organizations; accredited nursing colleges; home-health agencies; and other facilities that span the inpatient and outpatient continuum of care. In fiscal year 2013, CHI provided $762 million in charity care and community benefit, including services for the poor, free clinics, education and research. Learn more at www.catholichealthinitiatives.com.

Tags: , , , , ,

Speaking of...

  • Hutchinson won't stop private option insurance

    July 24, 2014
    Asa Hutchinson would politely decline my help if he were given a choice, and because he holds a tiny lead in the governor's race he may not need it, but it is one of the encyclopedic services a columnist ought to provide. /more/
  • New teacher insurance rates to be announced July 29th

    July 15, 2014
    The latest on public school employee insurance woes: the task force looks at bigger-picture fixes and EBD says premiums will be announced on July 29th. /more/
  • Faith and facts: Tax-cutting and Obamacare

    July 14, 2014
    Arkansas political campaigns this year, from the Republican side, are all about the beauty of tax cuts and the horrors of Obamacare. You have to ignore some inconvenient facts to accept the sales pitches. /more/
  • Innovation in health care under Obamacare includes single-payer experiment

    July 9, 2014
    Cheryl Smith, recruited from Utah to run Arkansas's health insurance marketplace, told legislators yesterday that they sky was the limit the state could take on seeking waivers for "innovative" ways to deliver coverage under the Affordable Care Act. She mentioned a single-payer experiment in Vermont, but — sadly — didn't suggest that here. /more/
  • Five carriers will sell policies on Arkansas Health Insurance Marketplace in 2015; all expected to sell statewide

    July 2, 2014
    The Arkansas Insurance Department today announced that five companies plan to sell health insurance plans on the Arkansas Health Insurance Marketplace in 2015, the second year for the regulated marketplace created by the Affordable Care Act. The issuers that have filed are Arkansas Blue Cross Blue Shield, the national multi-state Blue Cross Blue Shield, Celtic Insurance Company (selling in Arkansas as Ambetter), and two companies owned by the parent company QualChoice Holdings: QualChoice Life and Health Insurance Company, Inc. and QCH Health Plan Inc. /more/
  • Picking apart the teachers' insurance "fix" just approved by the legislature

    July 2, 2014
    The crisis in the public school employee (PSE) insurance system is complicated. The politics behind it are complicated. The solutions just passed by the legislature to once again shore up the troubled fund — those are complicated, too. But the underlying reason behind the fund’s insolvency is simple: the public isn't paying enough for its share of PSE insurance. /more/
  • State-appropriated funding for Obamacare guides ends; outreach will depend on private funding

    July 1, 2014
    Today, the first day of the new fiscal year, marks the end of state-appropriated funding for more than 500 outreach workers known as In-Person Assistant (IPA) guides, charged with education, outreach, and enrollment help for the new insurance options available under the Affordable Care Act. The Arkansas Insurance Department has closed contracts with the 27 organizations tasked with hiring and overseeing 537 guides throughout the state. The change comes because of an amendment to the private option adopted in last year's fiscal session. In some cases, workers will be laid off and those guide positions will simply end; in other cases, organizations may seek private funding to continue the guides' work or may continue to employ the guides themselves, adding the positions within their own scope of work. /more/
  • Tom Cotton declines to take stance on state minimum wage and private option

    July 1, 2014
    At a press conference today, Rep. Tom Cotton declined to take positions on two big issues likely to get a lot of political attention in Arkansas in the coming months. He wouldn't say where he stood on the state minimum wage hike, saying he was going to focus on "what I can accomplish in Washington for Arkansas families" and continued to dodge questions about his stance on the private option. /more/
  • The open line: Bitter enders, charter schools and a sane Republican

    June 22, 2014
    The Sunday night line is open. A roundup includes Koch-heads carrying their anti-Obamacare evangelizing to Utah; another academic proclaims charter schools a failure, and, from Texas, a sane Republican. /more/
  • Catholic bishop joins push to enroll people in Arkansas's private option

    June 20, 2014
    The Arkansas legislature took the crazy step of approving the private option version of Medicaid expansion while also preventing government from publicizing its available (preparatory Rep. Nate Bell said to killing Obamacare altogether.) /more/
  • More »

Comments (5)

Showing 1-5 of 5

Add a comment

 
Subscribe to this thread:
Showing 1-5 of 5

Add a comment

More by David Ramsey

  • 2014 Editor's picks

    What's good, according to the Times staff.
    • Jul 30, 2014
  • Extreme makeover for the Arkansas Times

    Larry West gives us tips on redecorating our office.
    • Jul 30, 2014
  • More »

Event Calendar

« »

August

S M T W T F S
  1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31  

Blogroll

 

© 2014 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation