King of Prussia, PA and Seattle, Washington (May 29, 2019) — Universal Health Services, Inc. (NYSE: UHS) and Vera Whole Health (Vera) announced today that they are partnering to add advanced primary care services to UHS’ clinically integrated delivery network, boosting access, improving member experience and generating better health outcomes for all members. UHS is receiving a minority equity stake in Vera as part of the transaction.
“The investment in Vera expands our integrated network of services, enabling UHS to extend the continuum of care and deliver superior quality healthcare to more individuals,” said Marc D. Miller, President, UHS. “UHS is an expert in the hospital management and ambulatory care arenas. Adding Vera’s advanced primary care model expands our reach via a unique model of on-site care centers that provide members with the kind of primary care that addresses their whole health including physical, social and psychological, and not simply the treatment of symptoms.”
Prominence Health Plan, UHS’ Managed Care insurance offering covering over 100,000 lives in Nevada and Texas, recently opened two new care centers in Reno and Carson City.
“The Prominence Care Centers provide a full service, face-to-face care model that features health coaching and patient engagement while generating healthcare savings,” said Miller. “Members have access to preventative and chronic care management in a convenient setting and a cost-effective manner.”
Companies who have partnered with Vera for their advanced primary care centers have seen up to a 25% reduction in overall healthcare costs in the first year, due in part to more appropriate ER and specialty care utilization and better management of chronic health issues.
“UHS is a trailblazer for value in healthcare delivery,” said Ryan Schmid, President and CEO of Vera. “Their vision to use our advanced primary care model to improve quality of care for less money, and with more satisfied clinicians, is inspiring.”
About Vera Whole Health
Vera Whole Health is a national leader in advanced primary care. Its model is uniquely designed to help people achieve optimum social, psychological and physical well-being – an outcome that’s neither probable nor affordable within the current sick-care system. Vera is the first provider in the United States to earn a Certificate of Validation by the Validation Institute for sound population health cost outcomes. Learn more about the health revolution at VeraWholeHealth.com.
About Universal Health Services
One of the nation’s largest and most respected hospital management companies, Universal Health Services, Inc. (NYSE: UHS) has built an impressive record of achievement and performance. Growing steadily since its inception into an esteemed Fortune 500 corporation, UHS today has annual revenue exceeding $10.7 billion. In 2019, UHS was again recognized as one of the World’s Most Admired Companies by Fortune; ranked #293 on the Fortune 500; and in 2017, listed #275 in Forbes inaugural ranking of America’s Top 500 Public Companies.
Our operating philosophy is as effective today as it was 40 years ago, enabling us to provide compassionate care to our patients and their loved ones: Build or acquire high quality hospitals in rapidly growing markets, invest in the people and equipment needed to allow each facility to thrive, and become the leading healthcare provider in each community we serve.
Headquartered in King of Prussia, PA, UHS has more than 87,000 employees and through its subsidiaries operates 350 inpatient acute care hospitals and behavioral health facilities and 30 outpatient and other facilities located in 37 states, Washington, D.C., Puerto Rico and the United Kingdom. For additional information on the Company, click here to visit our web site:
Universal Health Services.
