St. Louis-based SSM Health and Denver-based Paladina Health have created a joint venture that will offer direct-to-employer primary care to businesses in the St. Louis region.
Under the model, businesses will pay a flat fee for each employee's primary care services. Employees won't pay a co-pay or other out-of-pocket expenses for primary care.
Each clinic opened through the joint venture will be staffed by a family practice physician and medical assistant. It will have an in-house pharmacy, a lab and offer primary, preventive and acute care services.
The new company expects to open its first clinic by the end of this year. It will open to businesses in the St. Louis area in 2020
"With the continually rising cost of healthcare in the U.S., SSM Health is committed to finding new and innovative ways to make high quality health care services affordable and sustainable,” said Carter Dredge, chief transformation officer for SSM Health. "By partnering with like-minded organizations like Paladina Health, we are able to rapidly reinvent care delivery and better meet the needs of the patients and communities we serve."
More articles on transactions and valuation:
U of Louisville reconsiders Jewish Hospital takeover
Hospital M&A update: 6 latest deals
Kootenai Health to acquire 2 hospitals