CareSource

Last updated
CareSource
FormerlyDayton Area Health Plan
Company typeNon-Profit
Industryhealth care
Founded1989
FounderPamela Morris
Headquarters
Dayton, Ohio
,
United States
Area served
 Ohio, Kentucky, Indiana, West Virginia, Georgia, North Carolina
Key people
Erhardt Preitauer, President and CEO
Products Medicaid Managed Care plans, Health Insurance Marketplace plans, MyCare Ohio plan, Medicare Advantage plans
Revenue$8.8 Billion USD (2017) [1]
Members2 million
Number of employees
4,500 [1]
Website www.caresource.com OOjs UI icon edit-ltr-progressive.svg

CareSource is a nonprofit that began as a managed health care plan serving Medicaid members in Ohio. Today, it provides public health care programs including Medicaid, Medicare, and Marketplace. The company is headquartered in Dayton, Ohio. It is the largest Medicaid plan in Ohio and is second largest in the United States. [2] [3]

Contents

History

CareSource was founded by Pamela Morris in 1989 in Dayton, Ohio with the goal of expanding health care for underserved populations. The plan was originally called the Dayton Area Health Plan (DAHP) which was incorporated by three hospital CEOs and located its first headquarters in the offices of the Dayton Hospital Association. Morris became the company's first CEO, and led the company until her retirement in 2018. [4] DAHP began with a $500,000 grant from the state of Ohio to address a growing issue with the health care problems of low income citizens.

Under Morris, the company dealt with several regulatory hurdles from 1987 to 1989, in connection with the Ohio Department of Insurance. [5] The DAHP had to raise funds, secure an HMO license and obtain a federal waiver allowing the company to operate solely as a mandatory enrollment plan. The DAHP would become the first mandatory Medicaid managed care program in 1989 [4] [6] In 1993 the federal waiver would expire and in order to allow the organization to continue, Congressional action would be required. U.S. Congressman Dave Hobson intervened on its behalf to gain an exception for the DAHP. [7]

In 1996, the DAHP expanded into the Columbus market with their Medicaid plan by buying the plan United Healthcare was administering. [8] With this expansion, the Dayton Area Health Plan became the largest Medicaid HMO in Ohio. The plan in Columbus kept its previous name, MedPlan. In 1997, the plan acquired Butler Health Plan and gained 6,000 more members in Butler County. [9] During this time, all plans operated by the Dayton Area Health plan kept their regional names.

In the year 2000, DAHP consolidated all its health plans under one name – CareSource. [4] In this year, the company had about 70,000 members. By 2003 that number exceeded 320,000. [10]

In 2004, the organization was ranked the sixth-largest Medicaid managed care plan in the United States by Interstudy. [11] Also in 2004, the company's training program-CareSource University opened to educate employees and keep service standards high.

In 2006, desiring to support surrounding non-profits, CareSource established the CareSource Foundation. The Foundation collaborates with non-profits who share in the mission of serving the underserved. It has awarded a total of 693 grants to non-profit organizations so far. In this same year when the economy was down in Dayton, Ohio and major employers like National Cash Register, General Motors, and Delphi closed or left town. In 2007 employment in the area remained weak, but CareSource saw business growth and became the only Medicaid Managed Care provider to offer services in all 88 counties in Ohio. That year CareSource broke ground on its new corporate headquarters in Downtown Dayton, showing the company's commitment to the city it was founded in. The project was the largest urban building development in Ohio at the time. Construction was completed in 2009 on the $55 million corporate headquarters at the corner of Main Street and Monument Avenue in downtown Dayton. The 300,000-square-foot, 9-story building is downtown's first new office tower since before 2000. [12] The building's Architect was BHDP Architecture.

By 2010, the company was the third largest Medicaid HMO in the country, with $2.5 billion in revenue and 800,000 members across Ohio and Michigan. [13] In 2010, CareSource announced expansion of its provider network in Southeastern Ohio through a partnership with Quality Care Partners (QCP), a physician-hospital organization (PHO). [14]

In 2012, the company announced a partnership with Humana. This partnership worked to serve dual-eligible populations, or individuals who qualify for both Medicare and Medicaid in Ohio. In October 2012, the company expanded into Kentucky Medicaid with Humana, where the plan was known as Humana - CareSource. [15]

In 2013, CareSource announced that it would move some employees to a second office at 40 West Second Street in Downtown Dayton. 200 employees were relocated to that building, across from the Schuster Center in Dayton while others remained in the headquarters building a few blocks away. [3]

CareSource was the third largest company in the Dayton Area in 2013, behind AK Steel and Speedway, ranked by total revenue. From 2011 to 2012, the company's revenue grew 21.43 percent to $3.4 billion. CareSource's percent growth was more than double the average revenue growth of the other 99 largest Dayton companies in that time frame. [16] After the passing of the Affordable Care Act, CareSource created a product which allowed the company to enter the commercial insurance market. [17]

In 2013, a report from Ohio Hospital Association states that CareSource is the No. 2 health insurer in the state by premium revenue. [18]

In 2014, MyCare Ohio was launched to integrate Medicare and Medicaid benefits. CareSource used this opportunity to create a plan which assimilates both Medicaid and Medicare into one CareSource health plan. [19] The company would also exceed 2,000 employees and occupy the offices in three buildings in downtown Dayton by the end of the year. [20] The company also announced plans to expand into the health insurance marketplaces of Kentucky and Indiana. [21] The constant growth that CareSource experienced with healthcare reform and Medicaid expansion made it the third largest company in the Dayton area again in 2014. [22]

CareSource celebrated 25 years as one of the nation's largest Managed Medicaid Plans and the largest in Ohio in 2014. The company then served more than 1 million consumers in Ohio and Kentucky. [23]

In late 2014 and early 2015 a new division of CareSource was launched to address the other unmet needs of the company's Ohio Medicaid population. The division, CareSource Life Services, began working with members in the Dayton-area. Through a partnership with Fuyao Glass America, the company was able to set up interviews for 40 members for full-time employment with the manufacturing company. [24] Karin VanZant, the cofounder and executive director of Think Tank, was hired to oversee the program. [25] Under VanZant's leadership, the program grew to address other aspects that contribute to a person's health including their housing and economic stability. This new approach informed the way CareSource began to see its members. [26]

In 2016, CareSource began serving members in West Virginia through its health exchange product and was awarded the contract to serve Medicaid populations in Indiana [27] and Georgia. The growth in membership was matched by growth in the number of employees. A lease was signed for some employees to move into space on two floors of the Kettering Tower, which was renamed Stratacache Tower in 2019, [28] in downtown Dayton to make room for a total of 2,200 employees in the city. [29] To fill the company's long-term need for additional space, CareSource announced in October 2016 that the company would build a new 6-story office building in downtown Dayton. The new building would provide space for 800 employees and create a campus-like environment in the urban core. [30] The new office, named the Pamela Morris Center to honor the legacy of its founder, [31] will be located at First and Jefferson streets and be the first new high-rise in downtown Dayton since the company's headquarters opened in 2008. [32]

In April 2018, Pamela Morris retired as president and CEO. In May 2018, CareSource named Erhardt Preitauer as CEO. Preitauer was the former CEO of Horizon NJ Health. [1] Preitauer was recognized by Glassdoor in its 2019 Employees' Choice Awards as one of the top 20 CEOs. [33] In 2020 Preitauer appeared on the cover of CEO Today magazine's Healthcare Awards edition. [34]

In 2019 and 2020, CareSource earned a high quality rating in the Ohio Department of Medicaid (ODM) Managed Care Plans Report Card. [35] [36]

In 2020 CareSource became the largest locally owned company by revenue in the Dayton-area after Marathon Petroleum Corp. announced its agreement to sell Speedway to the corporate owner of international convenience store chain 7-Eleven. In 2020, the company had $11.8 billion in revenue and 4,500 employees. According to an economic impact study performed by the Center for Economic Development at Cleveland State University's Maxine Goodman Levin College of Urban Affairs, [37] CareSource fuels 8,400 Ohio jobs and $1 Billion of impact for Ohio.

The CareSource Foundation celebrated its 15th anniversary in 2021. CareSource Foundation has given more than $21 million in grants to 875 different organizations throughout Ohio. [38] Beyond the Foundation, CareSource invested in affordable housing initiatives as part of its efforts in Social Determinants of Health and in 2020 it announced a commitment of $50 million to housing across the U.S. [39]

Service area

Headquartered in Dayton, Ohio, CareSource has a workforce of 4,000 employees and covers nearly 2 million members. There are satellite offices in the Ohio cities of Cleveland and Columbus, as well as Atlanta, Indianapolis, and Louisville, Kentucky. [40]

The company serves consumers in Georgia, Indiana, Kentucky, Ohio, and West Virginia.[ citation needed ]

Related Research Articles

<span class="mw-page-title-main">Cigna</span> American health services organization

The Cigna Group is a for-profit American multinational managed healthcare and insurance company based in Bloomfield, Connecticut. Its insurance subsidiaries are major providers of medical, dental, disability, life and accident insurance and related products and services, the majority of which are offered through employers and other groups. Cigna is incorporated in Delaware.

Humana Inc. is a for-profit American health insurance company based in Louisville, Kentucky. In 2023, the company ranked 42 on the Fortune 500 list, which made it the highest ranked company based in Kentucky. It is the fourth largest health insurance provider in the U.S.

<span class="mw-page-title-main">Health Net</span> American health care insurance provider

Health Net, LLC, a subsidiary of Centene Corporation, is an American health care insurance provider. Health Net and its subsidiaries provide health plans for individuals, families, businesses and people with Medicare and Medicaid, as well as commercial, small business, and affordable care insurance.

The term managed care or managed healthcare is used in the United States to describe a group of activities intended to reduce the cost of providing health care and providing American health insurance while improving the quality of that care. It has become the predominant system of delivering and receiving American health care since its implementation in the early 1980s, and has been largely unaffected by the Affordable Care Act of 2010.

...intended to reduce unnecessary health care costs through a variety of mechanisms, including: economic incentives for physicians and patients to select less costly forms of care; programs for reviewing the medical necessity of specific services; increased beneficiary cost sharing; controls on inpatient admissions and lengths of stay; the establishment of cost-sharing incentives for outpatient surgery; selective contracting with health care providers; and the intensive management of high-cost health care cases. The programs may be provided in a variety of settings, such as Health Maintenance Organizations and Preferred Provider Organizations.

UnitedHealth Group Incorporated is an American multinational health insurance and services company based in Minnetonka, Minnesota. Offering insurance products under UnitedHealthcare, and health care services and care delivery aided by technology and data under Optum, it is the world's eleventh-largest company by revenue and the largest health care company by revenue.

<span class="mw-page-title-main">Tenet Healthcare</span> American healthcare company

Tenet Healthcare Corporation is a for-profit multinational healthcare services company based in Dallas, Texas, United States. Through its brands, subsidiaries, joint ventures, and partnerships, including United Surgical Partners International (USPI), the company operates 65 hospitals and over 450 healthcare facilities. Tenet also operates Conifer Health Solutions, which provides healthcare support services to health systems and other clients.

Centene Corporation is a publicly traded managed care company based in St. Louis, Missouri, which is an intermediary for government-sponsored and privately insured healthcare programs. Centene ranked No. 25 on the 2023 Fortune 500.

The Water Street District is a mixed-use development under construction in Downtown Dayton, Ohio.

In the United States, health insurance helps pay for medical expenses through privately purchased insurance, social insurance, or a social welfare program funded by the government. Synonyms for this usage include "health coverage", "health care coverage", and "health benefits". In a more technical sense, the term "health insurance" is used to describe any form of insurance providing protection against the costs of medical services. This usage includes both private insurance programs and social insurance programs such as Medicare, which pools resources and spreads the financial risk associated with major medical expenses across the entire population to protect everyone, as well as social welfare programs like Medicaid and the Children's Health Insurance Program, which both provide assistance to people who cannot afford health coverage.

Guidehouse is an American consulting firm for businesses and government entities. It is the successor to PricewaterhouseCoopers LLP’s public sector business and it was acquired in 2018 by Veritas. The head office is in Tysons, Virginia.

Medical Mutual of Ohio (MMOH) is an American mutual health insurance company. It is the oldest and largest health insurance company based in Cleveland, Ohio, and serves more than 1.6 million customers. Employing 2,500 people, Medical Mutual is one of the biggest employers in downtown Cleveland.

Premier Health Miami Valley Hospital South is a hospital in Centerville, Ohio. It is a branch of Miami Valley Hospital in Dayton, Ohio and is managed by Premier Health. Designed and constructed in 2007 as an outpatient facility with an emergency department, the facility grew faster than expected and became a full service hospital with as office building for physicians and a five-story patient wing added between 2009 and 2013. As of 2013, the hospital is a 579,000-square-foot (53,800 m2) complex on a 115-acre (47 ha) campus adjacent to Interstate 675. It has 60 beds and features a number of specialty care options including oncology, cardiology, sports medicine, and maternity care to cater to the suburban community surrounding the hospital.

Molina Healthcare, Inc. is a managed care company headquartered in Long Beach, California, United States. The company provides health insurance to individuals through government programs such as Medicaid and Medicare.

<span class="mw-page-title-main">Jeff McWaters</span> American politician

Jeffrey Linde "Jeff" McWaters is an American businessman and former member of the Senate of Virginia as a Republican. He represented the 8th district, which includes a portion of Virginia Beach. He was first elected in a special election in January 2010, and re-elected the following year. He left office after the 2015 elections, serving six years.

<span class="mw-page-title-main">Elevance Health</span> American healthcare company

Elevance Health, Inc. is an American health insurance provider. Prior to June 2022, Elevance Health was named Anthem, Inc. The company's services include medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans through affiliated companies such as Anthem Blue Cross and Blue Shield, Anthem Blue Cross in California, Wellpoint, and Carelon. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2022, the company had 46.8 million members within its affiliated companies' health plans.

Alan B. Miller is an American businessman who is the founder of Universal Health Services, and currently serves as the company's executive chairman. Miller founded the company in 1979 and it has grown to become a large provider of hospital and healthcare services in the US and the UK. In 2022, UHS had revenues of $13.4 billion. In September 2020, UHS announced that, consistent with the company's long-standing succession plan, Alan B. Miller would step down as CEO.

<span class="mw-page-title-main">Soin Medical Center</span> Hospital in Ohio, United States

Soin Medical Center is a full-service hospital located in Beavercreek, Ohio, United States, next to the Mall at Fairfield Commons. It is part of the Kettering Health network. The medical center is accredited by the American Osteopathic Association's Healthcare Facilities Accreditation Program.

<span class="mw-page-title-main">Wayne T. Smith</span>

Wayne T. Smith is an American businessperson in the health care industry. After starting his business career with the insurance company Humana Inc. in the 1970s, he served as Humana's president and chief operating officer (COO) from 1993 until 1996. In 1997 he was appointed president and chief executive officer (CEO) of Community Health Systems (CHS), also taking on the role of chairman in 2001. As head of the company, he has overseen projects such as the 2007 acquisition of Triad Hospitals, which came close to doubling the size of CHS. In 2014 he led the US$7.6 billion acquisition of Health Management Associates, which made CHS the largest for-profit hospital operator in the United States..

Fuyao Glass Industry Group Co., Ltd. is a manufacturing company in the People's Republic of China, engaged in the production of float glass, automobile glass and construction glass. It is one of the largest auto glass producers in the world, with customers including large international automobile manufacturers such as Ford, General Motors, Subaru, and Volkswagen Group. It was established in 1987 as a joint venture company and is headquartered in Fuqing, Fujian. It was listed on the Shanghai Stock Exchange in 1993 and on the Hong Kong Stock Exchange in 2015.

The Patient Protection and Affordable Care Act, often shortened to the Affordable Care Act (ACA) or nicknamed Obamacare, is a United States federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act of 2010 amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the passage of Medicare and Medicaid in 1965. Once the law was signed, provisions began taking effect, in a process that continued for years. Some provisions never took effect, while others were deferred for various periods.

References

  1. 1 2 3 "CareSource names new CEO, replacing Morris".
  2. ↑ "Ernst & Young Entrepreneur Of The Year 2007 Magazine" (PDF). Ernst and Young. 2007-11-17: 27.{{cite journal}}: Cite journal requires |journal= (help)[ dead link ]
  3. 1 2 "CareSource adds downtown Dayton office space". Dayton Business Journal. 2013-01-30.
  4. 1 2 3 "CareSource CEO named an E&Y Entrepreneur of the Year". Cincinnati Business Courier. 2007-11-29.
  5. ↑ Verna, Gigi (1997-05-12). "When survival means growth". Cincinnati Business Courier. Retrieved 2016-07-13.
  6. ↑ "CareSource History". CareSource. Retrieved 2016-07-13.
  7. ↑ Navera, Tristan (2013-09-27), CareSource pumps life into heart of downtown Dayton, Dayton Business Journal, retrieved 2014-05-13
  8. ↑ May, Troy (1996-12-02). "United HealthCare to sell its Medicaid HMO for $6M". Columbus Business First. Retrieved 2016-07-13.
  9. ↑ "Dayton HMO makes acquisition". Dayton Business Journal. 1997-05-08. Retrieved 2016-07-13.
  10. ↑ Study notes CareSource growth, Dayton Business Journal, 2003-12-02, retrieved 2014-05-13
  11. ↑ "Company History and Timeline". Archived from the original on November 20, 2008. Retrieved 2009-06-04.
  12. ↑ "CareSource Office Building". Archived from the original on November 20, 2008. Retrieved 2009-02-03.
  13. ↑ DeBrosse, Jim (2010-01-09), Critics question hospitals' CEO on CareSource board, Dayton Daily News, retrieved 2014-05-13
  14. ↑ "Expansion to SW Ohio" (PDF). www.caresource.com. Archived from the original (PDF) on 2010-09-23. Retrieved 2010-04-07.
  15. ↑ "CareSource Humana Alliance to Care for 'Dual-Eligible' Population in Ohio | Humana Healthcare". press.humana.com. Archived from the original on 2016-08-20. Retrieved 2016-07-13.
  16. ↑ Cogliano, Joe (2012-05-18). "Region's top 100 companies grew sales in '11". Dayton Business Journal.
  17. ↑ "Marketplace 2018". CareSource.
  18. ↑ Randy Tucker, Staff Writer. "CareSource No. 2 health insurer in Ohio". daytondailynews. Retrieved 2020-04-09.
  19. ↑ "MyCare Ohio". CareSource.
  20. ↑ Tristan, Navera (2014-05-23). "CareSource CEO Pam Morris on reshaping Dayton amid shifting health care world". Dayton Business Journal.
  21. ↑ Navera, Tristan (2014-06-20). "CareSource plans expansion into Kentucky, Indiana health insurance marketplaces". Dayton Business Journal.
  22. ↑ Applegate, Jane (2014-06-06). "Speedway tops top 100 companies list". Dayton Business Journal.
  23. ↑ "Recent News Releases". CareSource. Archived from the original on 2014-07-15. Retrieved 2014-07-14.
  24. ↑ Tucker, Randy (2015-03-10). "CareSource launches new division". Dayton Daily News.
  25. ↑ Navera, Tristan (2015-05-22). "Meet the new director for CareSource's next venture". Dayton Business Journal. Retrieved 2016-09-07.
  26. ↑ Navera, Tristan (2016-06-15). "New program guides CareSource in changing health care world". Dayton Business Journal. Retrieved 2016-09-07.
  27. ↑ Herman, Bob (2016-06-13). "New Indiana Medicaid contracts snub UnitedHealthcare". Modern Healthcare. Retrieved 2016-06-30.
  28. ↑ "Kettering Tower to be Renamed". Dayton Local.
  29. ↑ Tucker, Randy (2015-11-04). "CareSource plans new office space downtown". Dayton Daily News.
  30. ↑ Navera, Tristan (2016-10-27). "CareSource to build 7-story office building downtown". Dayton Business Journal. Retrieved 2016-12-21.
  31. ↑ "New downtown building to be named after founding CareSource CEO".
  32. ↑ Tucker, Randy (2016-10-27). "CareSource to build 7-story office building in downtown". Dayton Daily News. Archived from the original on 2016-12-22. Retrieved 2016-12-21.
  33. ↑ "Top CEO's 2019". Glassdoor.
  34. ↑ "HealthCare Awards 2020". CEO Today.
  35. ↑ "2020 MANAGED CARE PLANS REPORT CARD" (PDF). Ohio Department of Medicaid. Ohio Department of Medicaid.
  36. ↑ "2019 MANAGED CARE PLANS REPORT CARD" (PDF). Ohio Medicaid. Retrieved 2020-02-05.
  37. ↑ Economic Impact Study. "Study: CareSource fuels 8,400 Ohio jobs, $1B impact". Dayton Daily News.
  38. ↑ "CareSource Foundation Fact Sheet". CareSource Newsroom.
  39. ↑ "CareSource Commits $50 Million to Affordable Housing Investments". CareSource Newsroom.
  40. ↑ CareSource: General Information , retrieved 2014-05-13
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.