Business
State and Federal Regulators Lift Sanctions at InnovAge’s Colorado PACE Centers
DENVER, Jan. 23, 2023 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV), a market leading healthcare provider and payer
About this update from Innovage Holding Corp.
[{"type":"text","content":"DENVER, Jan. 23, 2023 (GLOBE NEWSWIRE) -- InnovAge Holding Corp. (the “Company” or “InnovAge”) (Nasdaq: INNV), a market leading healthcare provider and payer for high-cost, dual-eligible seniors, announced today the release of enrollment sanctions for its six Colorado centers by the Centers for Medicare & Medicaid Services (CMS) and the Colorado Department of Healthcare Policy and Finance (HCPF). The release of both sanctions permits InnovAge to resume normal enrollment of eligible Colorado seniors into its Program of All-inclusive Care for the Elderly (PACE) at its centers in Aurora, Denver, Lakewood, Northern Colorado, Pueblo, and Thornton. CMS and HCPF will require InnovAge to conduct post-sanction corrective action and monitoring activities to address any issues identified during the validation audits. The enrollment sanction release in Colorado follows CMS’ November release from sanction of InnovAge’s PACE center in Sacramento, California. The company continues to await action from the California Department of Health Care Services. “We are extremely honored and excited to resume enrollment of eligible Colorado seniors into the PACE program,” said CEO Patrick Blair. “What’s more, I couldn’t be more grateful to our InnovAge associates, who have tirelessly focused on improving the level of care and services to our valued participants. Without their dedication to the mission – and heroic efforts – we would not be in this position.” Blair concluded, “I would also like to extend my sincerest gratitude to our Colorado and federal regulatory agencies for their partnership and the trust they place in InnovAge to care for thousands of frail seniors. At InnovAge I speak for all our associates when I say that we are at the beginning of an ongoing journey of improvement and operational excellence. We will continue to focus on these elements as we fulfill our long-term mission of expanding access to community-based care for more seniors.” About InnovAge InnovAge is a market leader in managing the care of high-cost, dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE). With a mission of enabling older adults to age independently in their own homes for as long as safely possible, InnovAge’s patient-centered care model is designed to improve the quality of care its participants receive while reducing over-u...