ST. LOUIS--(BUSINESS WIRE)--Lumeris, a leading provider of the technology, insurance capabilities and expertise to support value-based care models, announced today the appointment of Umar Farooq as president of Essence Healthcare (EHI), the company’s affiliated Medicare Advantage plan. Farooq brings a solid track record of success in managing risk and creating both Provider Sponsored Health Plans (PSHP) and provider-aligned managed care products.
Essence Healthcare is built around comprehensive provider partnerships that produce high-quality clinical outcomes and high-rated consumer satisfaction while driving market-leading reductions of in-patient utilization and overall medical costs. The plan is one of the nation’s highest-performing Medicare Advantage health plans, receiving Medicare’s highest overall plan rating of 5 out of 5 Stars for 2022 for its Missouri-Illinois plan and was recently named “Best Medicare Advantage Plan Companies” in Missouri and Illinois for 2022 by U.S. News and World Report. As president, Umar is responsible for Essence’s short and long-range strategic plans, P&L, nationally scalable growth, and delivering an industry-leading experience for all EHI’s members, providers, and stakeholders.
“It was clear from our first discussions with Umar that he had the domain expertise in value-based care, health plans and providers systems and the passion for improving our country’s healthcare system to lead Essence Healthcare into the future,” said Michael Long, chairman and CEO of Lumeris. “Umar’s leadership will be critical for our journey to create the system of care every doctor wants for their own family.”
“The healthcare industry has only scratched the surface in terms of realizing the promise of value-based care. Essence Healthcare pioneered the collaborative payer model, demonstrating that health plans can catalyze a fully engaged doctor/patient relationship to co-produce better healthcare outcomes,” said Farooq. “I am excited to join the Essence Healthcare team and help lead its national growth strategy and extend access to Lumeris’ market-leading care delivery model through partnerships with provider systems across the country.”
Prior to Lumeris, Farooq was general manager and market president for Commonwealth Care Alliance of Boston, where he held P&L responsibility for the $2B payer-provider managed care plan. He was responsible for market and business line performance of Medicare and Medicaid health plans as well as relationships with government officials, provider groups and other key strategic partners. Prior to CCA, Farooq was a Vice President at Centene Corporation, where he was responsible for MHS health plan's provider strategy, operations, Medicare bid and strategic planning efforts.
Farooq is active in his community, having served on the Columbus Indiana Chamber of Commerce’s Board (Past Chair) and Our Hospice (Board Member). He received an MBA from Indiana University and also participates as a member of Healthcare Financial Management Association.
With Lumeris as a partner, health systems across the country are fulfilling the promise of value-based care. A joint-operating partner in both value and risk, Lumeris delivers market-leading technology, insurance capabilities and on-the-ground expertise to more than one million patients and 7,000 physicians nationwide. Lumeris is proud to operate 5-star health plans that consistently deliver better clinical and financial outcomes for Medicare, Medicaid, Commercial and Individual populations. To learn more about Lumeris, please visit www.lumeris.com.
ABOUT ESSENCE HEALTHCARE
Essence Healthcare provides over 68,000 people with Medicare comprehensive and affordable health insurance that focuses on wellness, care coordination and personal service. Essence’s Medicare Advantage plans offer complete hospital, medical and prescription drug coverage and include additional benefits not covered under the Original Medicare program. Powered by the nation’s leading population health services and technology of Lumeris, Essence is earning national recognition for its commitment to service and quality, including being awarded Medicare’s highest overall plan rating of 5 out of 5 Stars for 2022 for its Missouri and Missouri-Illinois plans and was recently named “Best Medicare Advantage Plan Companies” for Missouri and Illinois for 2022 by U.S. News and World Report. Every year, Medicare evaluates plans based on a 5- star rating system.