In this episode, Tom Grote discusses how Aetna and Banner Health’s relationship evolved from an ACO into a new commercial joint venture – Banner|Aetna – and how with a shared vision they are improving the primary care model to transform the healthcare market in Arizona.
The collaboration between a leading regional health and a national health insurer in a 50:50 joint venture helps develop and deploy new technology solutions to improve healthcare outcomes while focusing on keeping costs low. Tom believes that joint ventures such as Banner|Aetna can also accelerate the shift from the fee-for-service model to value-based care. He discusses the incremental benefits of Aetna merging with CVS, their approach to strategic technology partnerships, and sharing of best practices among JVs of Aetna with other health systems.
Tom advises ACO leaders and Chief Population Health Officers to focus on relationships and try to align with partners who share a common vision and believe there is a better way to transform the whole healthcare system.
Thomas J. Grote leads the Banner|Aetna joint venture as Chief Executive Officer. He is responsible for building a sustainable model of healthcare enhanced by a distinctive member experience for joint venture members throughout Arizona. He is also responsible for enhancing product offerings while lowering costs, creating a clinically integrated network, and growing Banner|Aetna’s footprint throughout the state. Tom is accountable for the overall success of the health plan, and works to leverage the strengths of each partner to create an improved member experience within the Arizona healthcare delivery system. Prior to being named CEO of Banner|Aetna in 2017, Tom held various sales and profit & loss management roles throughout his 30-year career at Aetna. He was also a key contributor in the development of Aetna joint ventures in Northern Virginia and Northern California. Tom holds a Bachelor’s degree in finance from the University of Notre Dame and has obtained his Certified Employee Benefits Specialist designation.
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