Business
InnovAge Announces Release of CMS Sanction in Sacramento Center
DENVER, Nov. 22, 2022 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV), a market leading healthcare delivery platform
About this update from Innovage Holding Corp.
[{"type":"text","content":"DENVER, Nov. 22, 2022 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV), a market leading healthcare delivery platform for high-cost, dual-eligible seniors, announced today that the Centers for Medicare & Medicaid Services (CMS) has determined that effective immediately the sanction is released from InnovAge in Sacramento, California and it will return to normal enrollment status for Medicare-eligible participants. The California Department of Health Care Services (DHCS) continues to conduct its validation audit and has not lifted the state sanction. The DHCS audit outcome determines InnovAge’s ability to enroll Medicaid recipients, which is required to enroll seniors with both Medicare and Medicaid. “Today’s announcement is a step in the right direction, and we are proud of our team for the work they have done to address the audit findings and strengthen our end-to-end operations,” said InnovAge President and Chief Executive Officer Patrick Blair. “We recognize there is still work to do, and we look forward to working with both CMS and our state partners to ensure we are providing the highest quality care and access to all Sacramento-area eligible seniors.” About InnovAge InnovAge is a market leader in managing the care of high-cost, dual-eligible seniors. Our mission is to enable seniors to age independently in their own homes for as long as possible. Our patient-centered care model is designed to improve the quality of care our participants receive, while reducing over-utilization of high-cost care settings. InnovAge believes its healthcare model is one in which all constituencies — participants, their families, providers and government payors — “win.” As of September 30, 2022, InnovAge served approximately 6,540 participants across 18 centers in five states. https://www.innovage.com/. Investor Contact: Ryan [email protected] Media Contact: Sarah Rasmussen, [email protected] Forward-Looking Statements - Safe Harbor This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” “may,” “should,” “will” and other words and terms o...