Advocate Aurora Health has plans to collaborate on a Medicare Advantage policy with a health insurance company owned by three other health systems, the health system said Jan. 21.
Five things to know:
1. Quartz, which is owned by Madison, Wis.-based UW Health, La Crosse, Wis.-based Gundersen Health System and West Des Moines, Iowa-based UnityPoint Health, signed a nonbinding letter of intent with Advocate Aurora to explore the opportunity.
2. The Medicare Advantage health maintenance organization plan would be administered by Quartz and include Advocate Aurora's physician network.
3. Advocate Aurora, which is a 28-hospital system based in Downers Grove, Ill., and Milwaukee, expects to sign a definitive agreement with Quartz in the next few months.
4. Pending regulatory approval, the Medicare Advantage HMO product would go into effect Jan. 1, 2021.
5. The collaboration comes after Advocate Aurora announced plans to more than double its annual revenue by 2025. Part of those plans included consolidating with health plans.