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InnovaCare Health

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InnovaCare Health is a privately-held healthcare company, based in Fort Lee, New Jersey, that offers integrated payer and provider services. Founded by Daniel E. Straus in 1998, the company's health plans cover more than 460,000 members living in Puerto Rico.

History[edit | edit source]

Founder Daniel E. Straus was first involved in the healthcare industry through leading The Multicare Companies, Inc., a chain of assisted-living facilities in several states. That corporation was purchased by Genesis Health Ventures, Inc. in 1997, at which time Daniel and his brother owned 43 percent of the company.[1]

Today, Straus serves as chairman of the board for InnovaCare Health.[2] He also operates CareOne LLC, a network of more than 70 post-acute nursing and assisted-living facilities.

InnovaCare’s subsidiary, MMM Healthcare, LLC, announced in 2014 the company had acquired the Medicare Advantage contracts of First Medical Health Plans, Inc., which covered approximately 27,000 beneficiaries and represented approximately $166 million in annual premium revenue at the time.[3]

Company President and CEO Richard Shinto, M.D., serves on the board of directors for America’s Health Insurance Plans (AHIP).[4][5]

Overview[edit | edit source]

Through subsidiary MMM Healthcare, InnovaCare provides health plans and healthcare-related services. Branded plans include Medicare y Mucho Mas and PMC Medicare Choice, which have a combined membership base that includes more than 200,000 individuals across Puerto Rico.[6]

References[edit | edit source]

  1. Freudenheim, Milt (1997-06-17). "Deal to Create A Big Chain In Elder Care". The New York Times. ISSN 0362-4331. Retrieved 2017-11-20. 
  2. "Daniel E. Straus, CEO & Chairman of CareOne, InnovaCare Health". Daniel E. Straus | Chairman and CEO of CareOne. Retrieved 2017-11-20. 
  3. NotiCel (2014-10-02). "MMM manejará desde enero a beneficiarios de Medicare Advantage de First+Plus". NOTICEL. Retrieved 2017-11-20. 
  4. Newton Media. "AHIP elects InnovaCare CEO to board of directors". www.hrmronline.com. Retrieved 2017-11-20. 
  5. "Board of Directors - About Us - AHIP". AHIP. Retrieved 2017-11-20. 
  6. "MMM obtains landmark accreditation". connection.ebscohost.com. Retrieved 2017-11-20. 

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