Priority Health is making a significant move by expanding into Indiana and Ohio through a new health plan deal. The Grand Rapids-based company is set to acquire the Physicians Health Plan of Northern Indiana Inc. by the end of 2024. This acquisition will allow Priority Health to reach more than 52,000 members in Indiana and Ohio.
The President of Priority Health, Praveen Thadani, expressed excitement about the acquisition, describing Physicians Health Plan of Northern Indiana as a phenomenal organization with values that align closely with those of Priority Health. The similarities in operating culture and shared focus on quality, innovation, affordability, and compassion made this partnership an attractive opportunity for both organizations.
Physicians Health Plan of Northern Indiana, a nonprofit established in 1983, offers self-funded and fully funded commercial health policies. With revenues of nearly $200 million in 2023, the company has a strong foundation in the region. The financial proceeds from the acquisition will support the foundation of Physicians Health Plan of Northern Indiana, benefiting the community.
One of the key advantages of this acquisition is the ability for Priority Health to market health policies across state lines, catering to employers with a presence in multiple states and employees residing in different locations. Thadani emphasized the importance of providing seamless coverage to members who may need to travel between Ohio and Indiana for work or personal reasons.
This strategic move builds on Priority Health’s existing partnership with Cigna, enabling members to access care networks outside of Michigan. By gaining approval from state regulators in Michigan and Indiana, Priority Health is poised to extend its reach and impact in the region.
The acquisition of Physicians Health Plan of Northern Indiana marks a significant milestone for Priority Health, following the successful integration of Total Health Care in Detroit in 2020. The company’s commitment to expanding its offerings and improving healthcare access and quality is evident in these strategic decisions.
Looking ahead, Priority Health plans to explore further expansion opportunities in the Ohio market while continuing to evaluate new markets in Indiana and beyond. The focus remains on delivering innovative solutions, resources, and support to customers and members, ultimately benefiting the communities they serve.
In conclusion, the acquisition of Physicians Health Plan of Northern Indiana represents a significant growth opportunity for Priority Health, allowing the company to broaden its reach and impact in the healthcare industry. Through strategic partnerships and a commitment to quality and innovation, Priority Health is well-positioned for continued success in Indiana, Ohio, and beyond.