RALEIGH – A joint venture between Blue Cross and Blue Shield of North Carolina (Blue Cross NC) and Deerfield Management Company now has a name and a headquarters: Alo, the joint venture that provides a practice management resource for independent physicians, will be based in Raleigh.
“Alo creates new options for independent physician practices across North Carolina,” said Sonny Goyal, senior vice president of diversified business and chief strategy officer at Blue Cross NC, in a statement shared with WRAL TechWire. “With our investment in this new venture, Blue Cross NC is advancing our support of primary care and freeing up physicians to focus on what they do best – providing high-quality, patient-centered care.”
The company also had a new chief executive.
Matt Eirich, the former chief growth officer for Humana Inc.’s primary care line of business, was appointed as the president and CEO of Alo, according to the statement.
“Matt has worked in both payer and provider environments, and these experiences have afforded him a unique perspective and deep understanding of what is needed to help physicians transition to value-based care,” said Adam Grossman, partner at Deerfield Management, in a statement.
Blue Cross NC and Deerfield Management announced the joint venture in July.
“This joint venture will offer a number of different services to help physicians to manage their business, and focus on opportunities for growth,” said Kyle Marshall, a spokesperson for Blue Cross NC, at the time of the announcement.
Blue Cross NC previously told WRAL TechWire that the partnership would leverage existing Deerfield Management assets, specifically the Deerfield Institute and its external operations team, to establish the joint venture. Both firms will invest financial resources into the joint venture, though Blue Cross NC declined to provide any additional details or terms.