Modivcare Inc. (MODVQ)

Overview

ModivCare Inc. is a technology-enabled healthcare services company that specializes in providing an array of integrated supportive care solutions tailored for both public and private payors, along with their members. The company, which was formerly known as The Providence Service Corporation until its name change in January 2021, operates through four key segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other. Its services are designed to assist Medicaid or Medicare eligible members who face challenges in accessing necessary healthcare and social services due to limited mobility or financial resources. ModivCare Inc. was established in 1996 and has its headquarters in Denver, Colorado. It caters to a broad range of clients, including federal, state, and local government agencies, Managed Care Organizations (MCOs), commercial insurers, private individuals, and health systems.

Products and Services

• Non-Emergency Medical Transportation (NEMT):

  ModivCare offers Non-Emergency Medical Transportation services, focusing on Medicaid or Medicare eligible members who have limited mobility or financial resources, making it difficult for them to access necessary healthcare and social services. The company provides comprehensive service management, including risk underwriting, contact center management, network credentialing, claims management, and the management of non-emergency medical transport services.

• Personal Care:

  To support Medicaid patients in their own homes, ModivCare delivers in-home personal care services targeting individuals who require assistance with daily living activities. Services include bathing, personal hygiene, grooming, oral care, dressing, medication reminders, meal planning and preparation, housekeeping, transportation services, and more. These services are facilitated through the placement of non-medical personal care assistants, home health aides, and skilled nurses, primarily focusing on senior citizens and disabled adults.

• Remote Patient Monitoring (RPM):

  The RPM segment includes solutions like personal emergency response systems, vitals monitoring, medication management, and data-driven patient engagement. These services are designed to enable remote care delivery, facilitating better health outcomes for patients who may not require or have access to in-person care at all times. This innovative approach allows for the monitoring of patient health and the provision of timely interventions when necessary.

• Corporate and Other:

  This segment encompasses the company’s broader corporate initiatives and services that do not neatly fit into the NEMT, Personal Care, or RPM categories. It includes strategic planning, management, and support functions that enhance the overall operation and service delivery of ModivCare Inc. This division plays a crucial role in ensuring the seamless integration of services and the effective management of the company’s diverse offerings.