Molina Healthcare of Washington launches $3M innovation fund

Bothell-based Molina Healthcare of Washington announced on Sept. 24 the launch of the Molina Community Innovation Fund, a three-year, $3 million initiative to invest in local community-based organizations addressing gaps in access to quality healthcare.

Each year, the fund will choose local nonprofit organizations launching innovative programs with a goal of lowering access barriers, closing care gaps and addressing the social determinants of health for Medicaid beneficiaries. These programs will focus specifically on beneficiaries in regions of Washington that have implemented the state's Integrated Managed Care initiative, which streamlines the payment and delivery of physical and behavioral health and crisis services.

The fund's portfolio will be divided between "Catalyst Investments," which will allot $50,000 to $100,000 grants to the development and implementation of programs with measurable outcomes, and "Accelerator Investments," which will support capacity building on a local level through $10,000 grants.

"Molina is committed to working collaboratively with community-based organizations to reduce barriers to accessing care," said Peter Adler, president of Molina Healthcare of Washington. "The Molina Fund will seek partners who share a commitment to expanding programs and services that focus on the whole-person health at the local level."

More articles on innovation:
Babson launches $10M center for healthcare entrepreneurship
Medtech investment is booming, but innovation funding can't keep up
Viewpoint: 3 ways to test whether new healthcare solutions are truly innovative

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