Banner|Aetna, a joint venture health plan owned by Banner Health and Aetna, a CVS Health company, has been named to the 2024 Inc. Magazine 5000 List of Fastest-Growing Private U.S. Companies. The prestigious national ranking recognizes private businesses for their rapid revenue growth over the past three years despite market challenges.
Formed with a vision to fix health care, Banner|Aetna’s unique “payvider” model equally splits financial accountability between the insurer and provider parent organizations, incentivizing both entities to work together to deliver a better health care experience for members and patients. Since launching in 2017, the company has emerged as a leading Arizona health insurer providing coverage to 475,000 people.
“It’s an honor for Banner|Aetna to be recognized by Inc. 5000,” said Tom Grote, CEO of Banner|Aetna. “Our goal is to make high-quality health care easier and more affordable for people to access, and the company’s growth has enabled us to bring that mission to life.”
In 2022, Banner|Aetna entered the Affordable Care Act (ACA) Insurance Exchange Marketplace, which broadened access to quality health care coverage for individuals and families.
“The health care industry faced numerous challenges in the years following the pandemic, which makes Banner|Aetna’s strong financial performance a tremendous achievement,” shared Dan Keller, CFO of Banner|Aetna. “Our unique alignment as a joint venture has allowed us to innovate and evolve to meet the needs of health care consumers, and our ranking on the Inc. 5000 list proves the success of our collaborative approach,” he noted.
To view the full list of 2024 winners, visit the Inc. 5000 interactive database.
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