More than three years into his job as CEO at Florida-based Palm Medical Centers, Fowad Choudhry remained set on one thing: He wanted to expand the primary care provider’s business model into North Texas.
To do that, the company had to answer one big question: Where exactly in North Texas?
Founded in 2013, Palm Medical Centers — which has 35 locations across Florida — offers primary care services for adults aged 65 and older who have Medicare Advantage HMO, PPO and fee-for-service insurance plans through a number of providers. In Texas, providers include Aetna, Blue Cross Blue Shield, Humana and United Healthcare.
Through its model, Palm assumes total risk for each Medicare patient. If the provider keeps its older adults healthy, it receives a yearly reimbursement from the insurance company for each patient.
If a patient is hospitalized, portions of the reimbursement are chipped away and funneled toward the emergency or urgent care visit, said Dana Tarrant, vice president of Palm’s North Texas market, writes the Fort Worth Report. Read more.
