The Oncology Institute becomes exclusive oncology provider for over 80,000 Medicaid patients with SilverSummit Healthplan in Nevada.
Quiver AI Summary
The Oncology Institute, Inc. (TOI) announced that it will become the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada, effective July 1, 2025. This partnership aims to enhance access to high-quality cancer care for Medicaid patients in Las Vegas. Dr. Daniel Virnich, CEO of TOI, expressed excitement about expanding their services to improve cancer care delivery, while Eric Schmacker, CEO of SilverSummit Healthplan, highlighted the commitment to providing members with expert oncology care close to home. TOI will offer comprehensive cancer services at three locations in Nevada, thereby supporting patients through their treatment journeys.
Potential Positives
- TOI will be the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada, significantly expanding its market reach.
- The partnership enhances access to high-quality cancer care for Medicaid patients in the Las Vegas area, addressing a critical need in the community.
- TOI’s established track record of providing care to Medicaid patients positions the company positively for future collaborations and growth in similar markets.
Potential Negatives
- Expansion into a vulnerable patient population may raise concerns about the adequacy of care and resources available, particularly given the challenges often faced in managing Medicaid patients.
- The exclusive partnership could increase scrutiny and pressure on TOI to deliver high-quality outcomes for a large number of Medicaid patients, which may pose operational challenges.
- Being tied to a single health plan might limit TOI's flexibility and growth opportunities in the Nevada market, potentially affecting long-term strategic positioning.
FAQ
What new partnership was announced by The Oncology Institute?
The Oncology Institute is now the exclusive oncology provider for 80,000 Medicaid patients linked to SilverSummit Healthplan in Nevada.
When does the partnership with SilverSummit Healthplan begin?
The partnership officially starts on July 1, 2025.
How many locations will TOI serve in Nevada?
TOI will provide cancer care at three locations in Nevada: Las Vegas, Henderson, and Spring Valley.
What types of services does The Oncology Institute offer?
TOI offers specialized, value-based cancer care, including clinical trials, transfusions, and advanced oncology services.
Who can access TOI's services through SilverSummit Healthplan?
Medicaid members of SilverSummit Healthplan can access TOI's comprehensive cancer care services.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TOI Insider Trading Activity
$TOI insiders have traded $TOI stock on the open market 14 times in the past 6 months. Of those trades, 8 have been purchases and 6 have been sales.
Here’s a breakdown of recent trading of $TOI stock by insiders over the last 6 months:
- GROWTH I L.P. M33 has made 0 purchases and 4 sales selling 2,750,000 shares for an estimated $7,713,300.
- BRAD HIVELY has made 1 purchase buying 9,056 shares for an estimated $9,433 and 2 sales selling 1,976,137 shares for an estimated $5,672,106.
- RICHARD A BARASCH purchased 1,358,448 shares for an estimated $1,415,095
- MARK L PACALA purchased 90,562 shares for an estimated $94,338
- KAREN MARIE JOHNSON purchased 36,224 shares for an estimated $37,734
- DANIEL VIRNICH (Chief Executive Officer) purchased 22,640 shares for an estimated $23,584
- YALE PODNOS (Chief Medical Officer) purchased 9,056 shares for an estimated $9,433
- JEREMY CASTLE (Chief Operating Officer) purchased 9,056 shares for an estimated $9,433
- ROBERT ROSS CARTER (Chief Financial Officer) purchased 9,056 shares for an estimated $9,433
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TOI Hedge Fund Activity
We have seen 23 institutional investors add shares of $TOI stock to their portfolio, and 16 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC removed 4,749,900 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $1,467,719
- KENT LAKE PR LLC removed 2,000,000 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $618,000
- JOSH ARNOLD INVESTMENT CONSULTANT, LLC added 1,988,900 shares (+inf%) to their portfolio in Q1 2025, for an estimated $2,267,346
- CINCINNATI INSURANCE CO removed 793,250 shares (-39.0%) from their portfolio in Q1 2025, for an estimated $904,304
- BALYASNY ASSET MANAGEMENT L.P. added 421,770 shares (+24.4%) to their portfolio in Q1 2025, for an estimated $480,817
- MANATUCK HILL PARTNERS, LLC added 350,000 shares (+inf%) to their portfolio in Q1 2025, for an estimated $398,999
- QUATTRO FINANCIAL ADVISORS LLC added 162,724 shares (+inf%) to their portfolio in Q1 2025, for an estimated $185,505
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$TOI Analyst Ratings
Wall Street analysts have issued reports on $TOI in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- BTIG issued a "Buy" rating on 05/15/2025
To track analyst ratings and price targets for $TOI, check out Quiver Quantitative's $TOI forecast page.
Full Release
CERRITOS, Calif., June 30, 2025 (GLOBE NEWSWIRE) -- The Oncology Institute, Inc. (NASDAQ: TOI) (“TOI”), one of the largest value-based oncology groups in the United States, announced today that effective July 1, it will be the exclusive oncology provider for over 80,000 Medicaid patients associated with SilverSummit Healthplan in Nevada. TOI is known for bringing state-of-the-art cancer care to the communities it serves, and their presence in the Las Vegas market will provide enhanced access to care and high-level services to the important Medicaid population here.
“We couldn’t be more excited about the opportunity to expand our partnership with SilverSummit and help create improved access and quality of cancer care to their Medicaid patient population,” commented Daniel Virnich, MD, CEO of The Oncology Institute. “We have a longstanding track record of providing outstanding care to Medicaid patients in other markets, and we look forward to broadening these efforts within the Las Vegas community.”
“At SilverSummit Healthplan, our top priority is ensuring our members receive the highest quality care, especially when facing a cancer diagnosis,” said Eric Schmacker, Plan President and CEO at SilverSummit Healthplan. “Partnering with The Oncology Institute allows us to connect our Medicaid members with compassionate, expert oncology care close to home—helping them navigate their treatment journey with confidence and support.”
Patient Impact
SilverSummit Healthplan members can now access TOI’s comprehensive cancer care at three convenient Nevada locations:
-
Las Vegas
2911 N. Tenaya Way, Suite 210, Las Vegas, NV 89128
Phone: 702-342-1244
Hours: Monday – Friday: 8:30 am – 5:00 pm -
Henderson
2904 W. Horizon Ridge Pkwy, Suite 200, Henderson, NV 89052
Phone: 702-471-7779
Hours: Monday – Friday: 8:30 am – 5:00 pm -
Spring Valley
6450 Medical Center St., Las Vegas, NV 89148
Phone: 702-739-9518
Hours: Mon., Wed., & Fri.: 8:30 am – 5:00 pm; Tue. & Thu.: Closed
About The Oncology Institute
Founded in 2007, TOI is advancing oncology by delivering highly specialized, value-based cancer care in the community setting. TOI offers cutting-edge, evidence-based cancer care to a population of over 1.8 million patients including clinical trials, transfusions, and other services traditionally associated with the most advanced care delivery organizations. With over 120 employed clinicians and more than 700 teammates in over 70 clinic locations, TOI is changing oncology for the better.
For more information, visit www.theoncologyinstitute.com .
About SilverSummit Healthplan
SilverSummit Healthplan is a managed care plan that provides Medicaid and marketplace health insurance to the people of Nevada. Established in 2017, SilverSummit exists to improve the health of its members through focused, compassionate and coordinated care. SilverSummit is a Centene Corporation company. For more information, visit
www.silversummithealthplan.com
.
Contacts
Media
The Oncology Institute, Inc.
[email protected]
Investors
Solebury Strategic Communications
[email protected]
