CenterWell, a subsidiary of Humana, has recently announced its acquisition of The Villages Health in Orlando, Florida. This move comes as a strategic restructuring to ensure the continuous operation of the healthcare provider for The Villages retirement community, which spans across three counties in Florida.
In a letter addressed to patients on July 3, CEO Bob Trinh of The Villages Health revealed that the bankruptcy filing is linked to a Medicare billing discrepancy amounting to hundreds of millions of dollars. Despite this financial challenge, Trinh reassured patients that The Villages Health is not closing its doors and will continue to provide quality healthcare services.
The ongoing resolution process with the U.S. Government regarding the Medicare overpayments is separate from the transaction with CenterWell. Patients can expect to retain access to their current insurance providers, as CenterWell operates on a payer-agnostic model, ensuring continuity of care.
The decision to file for Chapter 11 bankruptcy was made voluntarily by The Villages Health in an effort to address its financial situation. CenterWell Senior Primary Care has entered into an agreement to acquire the assets of The Villages Health through a bidding process. This acquisition will enable CenterWell to continue the operations of The Villages Health as a going concern.
The Villages Health has been a prominent healthcare provider in North Central Florida, The Villages, and surrounding areas for the past 13 years. With a focus on primary and specialty care, The Villages Health serves over 55,000 patients, many of whom are beneficiaries of Medicare and Medicare Advantage plans.
Dr. Elliot Sussman, chairman of the Board and physician founder of The Villages Health, expressed confidence in the planned transaction with CenterWell, emphasizing that it will lead to a more promising future for patients, physicians, employees, and the community. CEO Bob Trinh reiterated that patient care will remain unaffected by the restructuring process.
Overall, the acquisition of The Villages Health by CenterWell represents a strategic move to ensure the continuity of healthcare services for residents in the area. Despite the financial challenges faced by The Villages Health, the partnership with CenterWell aims to create a more sustainable and efficient healthcare system for the community.
