What You Should Know:
– Blue Cross Blue Shield of Michigan (BCBSM) today announced a joint venture with Nashville-based Honest Medical Group to offer physicians comprehensive operational, clinical, and financial support for shared accountability Medicare contracts.
– The joint venture is the first of its kind for BCBSM and aligns with the organization’s continued expansion of Blueprint for Affordability, its member-focused, value-based care and payment models.
Cost-Effective Patient Care for Medicare Patients
Honest Medical Group was created specifically to improve the care experience and reduce costs for people with Medicare. The new partnership will transform the way care is delivered for a physician’s whole Medicare patient panel, permitting physicians to use Honest Medical Group for its Traditional Medicare and Medicare Advantage members in any health plan. The partnership enables physicians to be successful as Blue Cross and other private and government health plans accelerate the transition to more comprehensive value-based payment models that add a deeper level of shared financial accountability among physician practices.
Physician organizations can choose to work with Honest Medical Group for support in making administrative and operational changes needed to be successful in full financial-accountability Traditional Medicare and Medicare Advantage agreements with payers. When providers choose to enter these agreements, they often need significant resources to add or upgrade electronic medical record systems, billing systems, virtual care and other practice capabilities. Honest can provide financial and human resources to assist practices in this transformation.