Longitude Health, a for-profit holding company, has been established by four major nonprofit health systems - Baylor Scott & White Health, Memorial Hermann Health System, Novant Health, and Providence.
The goal of this initiative is to create a collaborative environment that allows these health systems to collectively tackle challenges in healthcare delivery. The founding entities have committed to investing tens of millions of dollars annually.
The newly appointed CEO, Paul Mango, envisions a healthcare system where patients receive clear, upfront information about their out-of-pocket expenses throughout their care journey. By integrating health insurers as financial intermediaries, the aim is to streamline the process and improve patient satisfaction.
The formation of Longitude Health represents a strategic shift away from traditional competitive models in favor of a collaborative approach to address the complex challenges in healthcare. The company plans to launch a series of operating companies focused on developing impactful capabilities in areas such as artificial intelligence and value-based care.
The first operating company will focus on the distribution of costly monoclonal antibodies, while the second company will enhance care coordination for Medicare beneficiaries. The third operating company, set to launch in mid-2025, will address the issue of post-discharge balance billing.
Longitude Health aims to improve both financial and care outcomes for its member organizations and the communities they serve.