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Tampa Businessperson Kiran Patel Partners with eternalHealth in Health Insurance Venture

Tampa-based businessperson and philanthropist, Kiran Patel, has announced his return to the health insurance industry through a new collaboration with eternalHealth, a Boston-based company. Patel, who is an investor and major shareholder of eternalHealth, plans to assist the company in expanding its Medicare Advantage health plans across the United States, including potential expansion into Florida.

eternalHealth currently operates Medicare Advantage plans in six Massachusetts counties and has recently expanded into the Phoenix area, providing access to approximately 2 million Medicare recipients. With Patel’s guidance, the company aims to acquire small and medium-sized Medicare Advantage plans nationwide, boosting its presence in multiple states.

The CEO of eternalHealth, Pooja Ika, expressed the desire to partner with Patel due to his successful track record in growing health care businesses. Patel’s previous investments include taking control of WellCare HMO plans in New York and Connecticut, which grew into a $1 billion business before being sold. He also acquired and expanded Freedom Health Plan and Optimum Healthcare.

A key aspect of eternalHealth’s appeal to Patel is its innovative and efficient use of artificial intelligence (AI) technology to reduce administrative costs. The company utilizes a cloud-based platform that leverages AI to automate operations, facilitating seamless communication between different providers without the need for multiple computer systems. By leveraging AI’s capabilities, eternalHealth aims to enhance its operational efficiency and bring innovation to the health care sector.

Patel’s involvement in the health insurance industry has been significant. He sold his health care holding company, America’s 1st Choice Holdings of Florida, to Anthem (now Elevance) in 2018. Throughout his career, Patel and his wife, Pallavi Patel, have made substantial contributions to the Tampa Bay community, leading to the establishment of various buildings and institutions bearing their name, such as the Dr. Kiran C. Patel Center for Global Solutions at the University of South Florida.

The AI legalese decoder can assist in this situation by analyzing complex legal language in contracts, acquisition agreements, and various legal documents related to eternalHealth’s expansion plans. Its advanced AI capabilities enable efficient and accurate interpretation of legal jargon, reducing the time and effort required for legal review. This tool ultimately aids in ensuring compliance and facilitating smooth transactions during the acquisition of Medicare Advantage plans across different states.

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