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InnovaCare Health is a privately-held healthcare company based in Fort Lee, New Jersey. Founded by Daniel E. Straus in 2006, the company offers integrated payer and provider solutions, managing care for more than 460,000 members.

History
Founder Daniel E. Straus was first involved in the healthcare industry through leading The Multicare Companies, Inc., a chain of assisted-living facilities in several states. That corporation was purchased by Genesis Health Ventures, Inc. in 1997, at which time Daniel and his brother owned 43 percent of the company.

Today, Straus serves as chairman of the board for InnovaCare Health. He also operates CareOne LLC, a network of more than 70 post-acute nursing and assisted-living facilities.

InnovaCare’s subsidiary, MMM Healthcare, LLC, announced in 2014 the company had acquired the Medicare Advantage contracts of First Medical Health Plans, Inc., which covered approximately 27,000 beneficiaries and represented approximately $166 million in annual premium revenue at the time.

Company President and CEO Richard Shinto, M.D., serves on the board of directors for America’s Health Insurance Plans (AHIP).

In 2017, InnovaCare Chief Administrative Officer Penelope Kokkinides was one of eight women to participate in the White House’s Women in Healthcare Panel with CMS Administrator Seema Verma.

Overview
Through subsidiary MMM Healthcare, InnovaCare provides a range of health plans and healthcare-related services in Puerto Rico and the U.S. mainland. Branded plans include Medicare y Mucho Mas and PMC Medicare Choice, the oldest and largest plans in Puerto Rico, with a combined membership base that includes more than 200,000 individuals and a physician network of over 7,500. These plans have achieved the island’s only NCQA accreditation and earned the only 4.5-star ratings from the Centers for Medicare and Medicaid Services (CMS).

The company utilizes a number of proprietary products and systems to create digital pathways for stakeholders, including:
 * InnovaMD, a provider-focused system built on a Health Information Exchange.
 * CCR360, to assist providers in leveraging revenue cycle management opportunities.
 * SmartPaper and Quality Improvement Monthly Statements (QIMS), to help providers easily understand improvement opportunities.