InnovAge provides healthcare services exclusively through the Program of All-Inclusive Care for the Elderly (PACE) model in the United States. The company serves frail seniors who qualify for both Medicare and Medicaid and meet nursing home eligibility criteria, providing coordinated care that enables participants to live in their homes rather than institutional facilities. InnovAge delivers comprehensive services through dedicated PACE centers, which provide primary care, therapy, behavioral health, and socialization, supplemented by in-home support, transportation, and care management by interdisciplinary teams. InnovAge operates as a fully capitated managed care organization, contracting directly with Medicare and Medicaid to receive fixed per-member monthly payments while assuming full financial risk for all participant healthcare expenses. Profitability depends on controlling medical costs and utilization below capitation rates through proactive care coordination and internal care delivery. InnovAge operates through a single segment and pursues growth by expanding participant enrollment across existing centers, developing new centers, acquiring smaller PACE operators, and entering joint ventures with regional health systems.