HARTFORD, Conn: CareCentrix, the leader in home-based and post-acute care services, announced it has acquired Turn-Key Health, a leading community-based palliative care company serving health plans, hospitals and physicians.
As a result of the acquisition, Turn-Key's proprietary Palliative Illness Management (PIM) program, which leverages data analytics and artificial intelligence to deliver personalized palliative care plans, will be fully integrated into CareCentrix's platform.
Turn-Key's home-based palliative care model aligns with CareCentrix's mission of supporting patients by addressing their clinical and non-clinical needs.
Health plans and patients are looking for home-based palliative care that honors the hard choices that patients and families need to make as well as gives them the opportunity to remain at home, said CareCentrix CEO John Driscoll. The acquisition of Turn-Key is the next step in CareCentrix's commitment to provide more home-based services for all patients as delivering care at home becomes the new norm.
According to a 2019 New England Journal of Medicine survey, 60 percent of patients who would benefit from palliative care services do not receive them. Unmanaged care for patients with advanced illnesses can lead to twice the number of unnecessary hospital readmissions compared to patients who receive palliative care.
A 2019 peer-reviewed study published in the Journal of Palliative Medicine highlights Turn-Key's community based palliative care program that successfully reduced the total cost of care by 20 percent and decreased ICU admissions and hospital admissions by 38 percent and 33 percent, respectively. The Company's proprietary end-to-end PIM solution identified high-risk members for over-medicalization and supported providers in delivering a highly personalized palliative care plan.
We share a mission with CareCentrix to care for the whole person, not just to treat the illness. That's particularly important for people with a serious illness to ensure that care is aligned with their goals, values and preferences, says Greer Myers, President at Turn-Key Health. Together with CareCentrix we can bring a personalized and scalable approach to palliative care to more people.
The acquisition follows a successful partnership with Turn-Key over the last year, and now CareCentrix will integrate the PIM solution into its overall suite of products, enabling CareCentrix to identify patients who could benefit from palliative care and those at risk of over-medicalization and provide them with community-based resources. CareCentrix will also be able to enhance communication and improve care coordination across all involved stakeholders, including the patient's health plan, provider, and care team ultimately to drive down medical costs associated with palliative care.
Nelson Mullins Riley & Scarborough LLP acted as legal advisor to CareCentrix. Evercore Inc. acted as financial advisor and Latham & Watkins LLP acted as legal advisor to Turn-Key Health.
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