Inova, Aetna partner to establish Innovation Health Plans in Northern Virginia

Inova Health System and Aetna (NYSE: AET) today announced an exclusive partnership to establish Innovation Health Plans, a jointly owned health plan serving Northern Virginia, including more than 1.1 million residents currently served by Inova. Innovation Health Plans aligns two marquee organizations to provide more affordable, quality health care to Northern Virginia employers and residents, with each organization bringing best-in-class services: Aetna for health benefits administration and care management capabilities and Inova for health care delivery.

The partnership will help to promote clinical integration of the health care community. Inova Health System will engage Inova and community physicians to focus on promoting wellness; improving patient outcomes through better care coordination; and streamlining access to patient information. Aetna will support Inova with technology that makes it easier for physicians to exchange information and track their patients' care across all settings.

New commercial and Medicare Advantage HMO and PPO products will be offered in Northern Virginia as part of the joint venture expected to begin Jan. 1, 2013. The new products will give employers and consumers access to less expensive, more coordinated and integrated health care fostered by the partnership and engagement with community physicians.

"Our mission is to improve the health of the diverse community we serve through excellence in patient care," stated Knox Singleton, CEO, Inova Health System. "This innovative relationship with Aetna responsibly addresses long-standing challenges related to the quality and expense of care, physician participation and patient satisfaction. Together, we are streamlining the process to empower patients while better engaging payers and physicians. Taken as a whole, we are forging a higher standard of health care for Northern Virginia consumers."

"Both Inova and Aetna believe that shared accountability translates into a powerful new value proposition for consumers," said Mark T. Bertolini, Aetna chairman, CEO and president. "This joint venture with the region's largest health system signals a new level of Aetna's commitment to payment reform and stronger provider collaboration. It is a significant step forward for our customers and members. Through our joint arrangement we will deliver a better, more affordable health care experience."

Currently, Inova provides care to more than 1.1 million Northern Virginia residents annually. Aetna provides health care benefits to approximately 570,000 members in Virginia.