News

7 min read

Signify Health focusing on fast-growing home and community services and total cost of care provider enablement

By Signify Health News on 7/8/22 6:00 AM

Changes expected to have positive impact on 2023 earnings

Company ending its participation in the BPCI-A program to focus on supporting future growth

DALLAS & NEW YORK – July 8, 2022 – Signify Health, Inc. (NYSE: SGFY) today announced that it is winding down its Episodes of Care Services (ECS) segment in order to focus on its fast-growing and profitable Home and Community Services (HCS) business and recent Caravan Health acquisition. The Company is exiting CMS’ Bundled Payments for Care Improvement-Advanced (BPCI-A) program in light of the newly released CMS retrospective trend calculations
that lowered target prices for episodes, thereby reducing the opportunity for savings. This strategic and timely decision allows the Company to invest more to drive the future growth and diversification of the HCS and Caravan Health businesses supporting the needs of health plans and providers in total cost of care contracts, where they take responsibility for the cost of a patient’s healthcare over the course of a year. The Company anticipates these changes will have a positive impact on 2023 earnings, and will provide additional guidance in its Q2 earnings report in early August. 

“Our HCS segment is experiencing tremendous growth as our health plan clients have prioritized access to the home as part of their focus on closing clinical, behavioral, and social care gaps,” said Kyle Armbrester, Signify Health CEO. “Clients are seeing the value in our unique position: our ability to see patients in the home and refer them to care for the urgent needs we identify. This is particularly so with the social and behavioral needs that are crucial to improving care but are often very hard to assess in traditional care settings. We are making investments to create operational improvements that will increase efficiency, expand use of connected devices, and allow us to diversify into new services to drive better health outcomes in the lives of people we touch.”

The Company’s timing and decision to terminate its participation in the BPCI-A program is driven by recent policies implemented by the Center for Medicare & Medicaid Innovation  (CMMI) affecting BPCI-A pricing that the Company and its clients believe have rendered the program unsustainable. The BPCI-A pricing methodology has changed repeatedly over the years and has recently included the imposition of a retrospective adjustment that is not based on publicly available data, cannot be accurately forecasted, and is known only long after a performance period has ended, making it impossible to take real-time action. The Company is currently in the process of contesting the most recent pricing calculations through CMMI’s standard appeals process and advocating for CMMI to offer providers immediate relief. 


In addressing the decision to end Signify Health’s participation in the BPCI-A program, Mr. Armbrester said, “We made this decision in partnership with our clients, who have repeatedly surpassed benchmarks for quality care and operational improvements with our support— including significant reductions in readmissions and increases in healthy days at home during an extremely challenging period for healthcare.” 

The Caravan Health business is not impacted by these changes. Caravan Health was acquired by Signify Health in March 2022 for its strong capabilities in enabling providers and accountable care organizations (ACOs) to excel in population health management and value-based payment programs. Since the acquisition, this business has continued to outperform as clients align themselves with CMS’ goal of having all Medicare beneficiaries in an accountable relationship with their health care provider by 2030, and recognize the benefits of leveraging Signify’s diverse capabilities in managing the cost for all of the care provided to a patient. This includes the Company’s post-acute and transition to home capabilities, as well as key services from its HCS segment, such as the ability to reach patients in their home in order to better manage their care, which the Company believes will result in incremental savings in 2023.

Topics: Press Release

2 min read

Signify Health Names Paymon Farazi Chief Product Officer

By Signify Health News on 6/22/22 3:35 PM

Former OptumInsight CPO will build out suite of healthcare services that tie together post-acute, primary and specialty care

DALLAS AND NEW YORK – June 22, 2022Signify Health, Inc. (NYSE: SGFY), a leading
healthcare platform that leverages advanced analytics, technology, and nationwide healthcare
networks to create and power value-based payment programs, today announced that Paymon
Farazi will be joining the Company as Chief Product Officer. Mr. Farazi brings more than two
decades of experience leading product strategy for healthcare and technology companies to his
role overseeing product strategy and design for the Company’s suite of payor and provider
solutions.

“We exist to help our clients succeed in any risk-based or value sharing model,” said Signify
Health CEO Kyle Armbrester. “To do this, we are building a platform that connects providers
and payors in accountable relationships. Paymon’s deep experience in healthcare payment and
technology will be critical as we expand our portfolio of tools and services to help our clients tie
together post-acute, primary and specialty care to improve quality and outcomes for the people
they serve.”

With a proven track record of leading successful teams and executing on high impact product
strategies across healthcare, fintech, and cloud technology companies, Mr. Farazi will be
responsible for product strategy, development and marketing across the Company’s business
segments. He brings to Signify Health more than 15 years of experience in product leadership,
including roles at OptumInsight. He also served in product and operations leadership positions
at Cargill, Symantec and Dell. He earned his B.S. in Computer Engineering from Northwestern
University and his MBA from the University of Texas at Austin.

“With its ACO and episodes of care capabilities, Signify Health is uniquely positioned to offer an
end-to-end total cost of care platform for all providers and payors, regardless of where they are
in their value-based care journey,” said Mr. Farazi. “This platform, together with the Company’s
ability to fill the gaps across the continuum reaching all the way into the home, offers a powerful
opportunity to make every care encounter more effective. I am delighted to be joining Signify at
this exciting time in the Company’s journey and look forward to helping our clients achieve
sustainable success in these new models that reward improved outcomes.”

About Signify Health

Signify Health is a leading healthcare platform that leverages advanced analytics, technology,
and nationwide healthcare provider networks to create and power value-based payment
programs. Our mission is to transform how care is paid for and delivered so that people can
enjoy more healthy, happy days at home. Our solutions support value-based payment programs
by aligning financial incentives around outcomes, providing tools to health plans and healthcare
organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings. Through our platform, we coordinate what we believe is a holistic suite of clinical, social, and behavioral services to address an individual’s healthcare needs and prevent adverse events that drive excess cost, all while shifting services towards the home. For more information on how we are taking health
homeward, visit us at signifyhealth.com.

Topics: Executive Leadership Press Release

2 min read

Signify Health Appoints Seasoned Tech Executive Arnold Goldberg to Board of Directors

By Signify Health News on 8/25/21 3:36 PM

DALLAS and NEW YORK (August 25, 2021) Signify Health, Inc. (NYSE: SGFY), a leading value-based healthcare platform that leverages advanced analytics, technology and nationwide healthcare provider networks, today announced the appointment of Arnold Goldberg as an independent member of its board of directors, serving on the audit committee. Most recently serving as Senior Vice President, Chief Product Architect and Senior Technologist at PayPal, Mr. Goldberg brings deep knowledge of platform architecture and product strategy to Signify Health, as well as valuable experience leading and scaling teams of technologists for some of the biggest and most groundbreaking technology companies of the past two decades.

Topics: Press Release

2 min read

Signify Health appoints Sam Pettijohn as Chief Growth Officer and Erin Kappler Kelly as Chief Compliance Officer

By Signify Health News on 7/19/21 6:47 AM

DALLAS and NEW YORK July 19, 2021 - Signify Health, Inc. (NYSE: SGFY), a leading value-based healthcare platform that leverages advanced analytics, technology and nationwide healthcare provider networks, today announced the appointment of Sam Pettijohn as Chief Growth Officer and Erin Kelly as Chief Compliance Officer. 

Topics: Press Release

2 min read

Signify Health to Report Second Quarter 2021 Earnings and Host Earnings Call on Wednesday, August 11, 2021

By Signify Health Team on 7/13/21 3:43 PM

DALLAS and NEW YORK – July 13, 2021 – Signify Health, Inc. (NYSE: SGFY), a leading value-based healthcare platform enabled by advanced analytics, technology and nationwide healthcare networks, announced that it will release its financial results for the second quarter 2021 after the market closes on Tuesday, August 10, 2021, and will hold a conference call at 8:30am ET on Wednesday, August 11, 2021 to discuss the results.

Topics: Press Release