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Why has InnovAge Holding Corp. (INNV) stock gone down?

InnovAge Holding Corp. (INNV) has experienced a decrease of 6.06% in the aftermarket. However, the last trading session closed at $6.93 with an increase of 3.28%.

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INNV to announce fiscal fourth-quarter 2021 results

On 31st August 2021, INNV announced that it will disclose its fiscal fourth quarter and year-end financial results for 2021 on Tuesday, September 21, 2021, in the aftermarket. In addition, at 5 p.m. E.T., the business will have a conference call to discuss the findings.

 PACE Centers in Virginia and New Mexico

On 19th August 2021, INNV announced that the National Committee for Quality Assurance has accredited four of its Program of All-inclusive Care for the Elderly (PACE) facilities in Virginia as Patient-Centered Medical Homes (NCQA). The facilities were honored for their dedication to providing high-quality, patient-centered treatment in Charlottesville, Newport News, Richmond, and Roanoke. In addition, InnovAge’s Albuquerque, New Mexico, the facility has received its yearly recertification.

NCQA is a non-profit organization devoted to reviewing and reporting on the quality of a wide range of healthcare organizations in order to assist consumers, employers, and others in making better healthcare decisions. Moreover, InnovAge’s dedication to team-based care and practice, patient-centered access and continuity, care management and support, care coordination and care transitions, and performance assessment and quality improvement is demonstrated by earning PCMH Certification. 

Equity Investment in Jetdoc

INNV announced on 4th August 2021 that it has invested in the telehealth platform Jetdoc, a telehealth, and virtual urgent care app committed to effectively connecting consumers with medical experts. The investment by InnovAge comes as virtual healthcare services continue to be in high demand across the healthcare industry.

Moreover, INNV will also collaborate with Jetdoc on the development of a virtual care and remote patient monitoring platform tailored to the needs of participants and carers in the Program of All-inclusive Care for the Elderly (PACE). The platform will be built to support the PACE multidisciplinary care approach, which assigns a team of medical professionals to each senior in the program.

Pennsylvania LIFE Centers

On 26th July 2021, INNV announced that the National Committee for Quality Assurance has accredited three of the company’s LIFE centers in Pennsylvania as Patient-Centered Medical Homes. The Allegheny, Germantown, and St. Bart’s facilities of the company were honored for their dedication to providing high-quality, patient-centered treatment. This NCQA recognition is the result of more than a year of hard work by the interdisciplinary care teams and leadership at these centers. Not only this but it symbolizes the Company’s commitment to providing the highest level of services and individualized care to each and every one of the participants.

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