InnovaCare Health Inc. is a Fort Lee, NJ firm which offers Medicare Advantage plans and physician services in Puerto Rico. They were founded two decades ago now has over 500,000 clients. About half of their clients qualify for both Medicare and Medicaid. They have partnered with 50 hospital, 193 primary care providers, 410 specialty care providers, and 26 independent practice associations. InnovaCare Health is privately held.
This company is led by Rick Shinto, MD., MBA. He is both the president and chief executive officer. He has been an executive in the healthcare industry for more than 20 years. Other companies he has been a leader at include NAMM California, MMM Healthcare, Aveta Inc., and Medical Pathways Management Company among others. He started out his career as a medical doctor who specialized as a pulmonologist in the greater Los Angeles area.
During his career Dr. Rick Shinto has received a number of awards. A recent one he received on February 26, 2018. This was being named a Top 25 Minority Executive in Healthcare award by Modern Healthcare. This award honors minority executives who are making a positive difference in healthcare policies as well as care delivery models. Another award he won was in 2012 when he was named Entrepreneur of the Year by Ernst & Young.
As the Chief Administrative Officer Penelope Kokkinides is another top executive at InnovaCare Health. She is considered a national expert when it comes to Medicare and Medicaid and she has worked with these programs for more than two decades. Her role is to develop clinical programs at this company. She also manages InnovaCare’s operations and she focuses on creating an efficient organizational structure.
Both Rick Shinto and Penelope Kokkinides were instrumental in an effort to introduce a new and improved payment methods plan. This is called Payment Lan (Learning and Action Network). The goal is to create a new health system model which is focused on quality-based payments rather than the current system which is based on sheer volume. This alternative payment model is designed to encourage hospitals and physicians to provide better care, not just more of it. The goal is to have more than 30% of healthcare payments in the United States to be paid through alternative methods in the near future. In order to measure progress, InnovaCare Health will keep track of results with the LAN Nationwide Data Collection Effort.