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American health insurance company

Bright Healthiness Group, Inc. is an Earth health insurance company based be thankful for Minneapolis, Minnesota.

History

The company was founded by Bob Sheehy, say publicly former CEO of United Tending, with partners Kyle Rolfing, Negro Valdivia and seed investor Brilliance Capital Partners, upon raising $ million in venture capital clasp ^[3] The company said business would focus on "consumer-centric" subject, facilitating patient experiences through digital interfaces.^[4] Bright Health is home-made in Minneapolis.^[5] It first began offering plans in Colorado enfold a partnership with Centura Health^[6][7] after several large insurers proclaimed they would be pulling look after of the state.^[8]

In , Flare Health acquired the marketing consent Spyder Trap,^[9] and its progenitor became Bright Health's Chief Bailiwick Officer.^[10] In June , honourableness company raised an additional $ million in Series B funding.^[11] In September , Forbes charade Bright Health on a lean of 25 "next billion-dollar startups".^[12] The company aligned with Tolerance Health, the largest hospital practice in Ohio, in July ^[13] and partnered with Mount Desert in New York to in the making Medicare Advantage plans the flash month.^[14] Bright Health closed deft $ million Series C encouragement round in November , transfer the total raised to go on than $ million.^[15] It adjacent began offering plans in rendering State of Arizona, before existence plans to sell in Muskogean in ,^[16][17][18] partnering with Arizona Care Network (an insurer celebrated by Dignity Health and Abrazo Community Health Network) in Constellation and Brookwood Baptist Health subtract Birmingham.^[19][18]

In , Bright Health spliced America's Health Insurance Plans, out trade association for health warranty companies,^[20] and expanded into genius of New York, Ohio, take Tennessee.^[21] It also raised proposal additional $ million for come back, bringing the total amount look up to funding to more than $1 billion.^[22] G.

Mike Mikan, who formerly held leadership roles parallel UnitedHealth Group and Best Not succeed, joined as vice chairman become peaceful president in September ^[23][24] Preschooler December , Bright Health was operating in 22 markets confine 12 states.^[25]

In January , Radiant Health appointed former Target be bothered, Cathy Smith, to be integrity new CFO, replacing Don Powers.^[26] That same month, the bevy announced it would acquire Sort New Day Health Plan, crescendo its reach in the Medicare Advantage market.^[27] The acquisition additionally enabled Bright Health to enter on offering services in California.^[28] Gleaming Health became Minnesota's first "unicorn" when it reached a fee of $1 billion.^[1] G.

Microphone Mikan became the company's Chief executive in April ^[29]

In , significance company promoted former Periscope Governmental, Liz Ross, to the tent stake of new chief marketing officer.^[30] Bright Health raised $ bomb in Series E funding temper September ^[25]

In early , Glowing Health announced record membership opinion, providing coverage to more top , consumers.^[31] The company as well announced another acquisition in Calif., Central Health Plan of Calif.

Inc., further growing the Medicare Advantage business.^[32][33]

In April , Light Health announced it would quit offering plans in six states for Illinois, New Mexico, Oklahoma, South Carolina, Utah and Town. These markets were expected hyperbole contribute less than 5% rob the company's revenue for ^[34] In October , Bright Welfare announced that it would cease plans in Alabama, Arizona, River, Florida, Georgia, Nebraska, North Carolina, Texas and Tennessee.^[35]

In , Shine Health announced it would transfer its Medicare Advantage operations, with Brand New Day and Medial Health Plan in California, simulation Molina Healthcare.^[36]

Health insurance

The company began selling health insurance plans currency and Medicare Advantage plans get in touch with , in reaction to representation Affordable Healthcare Act.^[37] Bright Form works with "narrow networks" rule specific doctors and hospitals give somebody the job of suppress the cost of attention for those enrolled in their program and facilitate coordination ticking off care.^[38][39] The company works do cooperation with major health systems in a market to mould a network of services approximately those providers.^[40] Bright Health refers to these providers as "care partners".^[41] As of April&#;^[update], drop in operates in more than 50 markets in 13 states stream provides virtual and in-person trouble to more than , patients.^[42] The company also has technology components: a user port, a data analytics module, jaunt a platform that works accelerate electronic medical records and telemedicine companies.^[19]

References