Despite the numerous interventions by the government to reinforce value-based care, the transformation of the healthcare ecosystem has been slow. As of 2018, there are around 400 ACOs under Medicare Shared Savings Programs alone and only 31% of them could generate shared savings.Additionally, ACOs are under immense pressure with an increased shift towards assuming more financial accountability. The reality is that every year ACOs end up leaving money on the table due to lack of awareness about
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Value-Based Care| VBC-Related News, Analysis, Insights - HIT Consultant
Medtronic and UnitedHealthcare’s Value-based Relationship Results in Lower Costs, Fewer Hospital Readmissions
Today, Medtronic and UnitedHealthcare announced positive first-year results from their value-based relationship focused on improving health outcomes for people with diabetes. Results demonstrated cost-savings and reduced hospital admissions for UnitedHealthcare members with type 1 diabetes on Medtronic insulin pumps, when compared to other members on multiple daily injections (MDI) of insulin. Starting in 2016, more than 6,000 UnitedHealthcare members were given access to the Medtronic MiniMed
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Cerner and Lumeris Launch EHR-Agnostic Solution for Value-based Care
Cerner and Lumeris, a health plan and value-based care managed services operator, today announced a 10-year relationship aimed at eliminating inefficiencies in the current health care system. Under the relationship, the parties will launch a new offering, Maestro Advantage, for value-based arrangements, including Medicare Advantage (MA) and provider-sponsored health plans (PSHPs). The strategic relationship includes a Cerner investment in Lumeris’ parent company, Essence Group Holdings
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Caradigm Sale – The Final Step in GE’s Exit From PHM/Value-based Care?
- On 13th June 2018, cancer informatics and digital pathology workflow vendor, Inspirata, announced that it was purchasing GE Healthcare’s remaining population health management (PHM) interest, Caradigm- This follows the announcement in April 2018 that GE Healthcare was selling its ambulatory value-based care business to Veritas Capital- This latest announcement now means that GE Healthcare has exited the population health management market from both an enterprise and ambulatory perspective- It
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Report: Healthcare Organizations are Seeing Improved Profits from Value-based Care Contracts
46% of healthcare organizations see value-based care contracts improving profitability versus 23% two years ago. Healthcare organizations are more optimistic about how value-based care will affect their finances, according to a poll of accounting and finance employees on a webcast that KPMG hosted. Government spending on healthcare through Medicare, Medicaid, Veterans Administration and other programs have been shifting to value-based payment models in an attempt to improve efficiency and tie
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7 Reasons Why Claims Data Cannot Drive Patient Health Improvements
With the Department of Health and Human Services' decision to tie 90 percent of Medicare payments to value based models by this year, we can expect organizations to move even faster toward streamlining their population health management programs. But a survey from Managed Healthcare Executive notes that only 12% of survey respondents say their organization is using data “very well” and it’s making a “big impact” at their organization, the same percentage as 2016. Obviously there is still a steep
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The State of Value-based Care in 2018: 10 Key Trends to Know
Value-based care is bending the healthcare cost curve, reducing unnecessary medical costs 5.6% on average while improving care quality and patient engagement—effectively starting to achieve the long-sought triple aim. Despite easing or ending of federal mandates, commercial lines of business are investing in value-based innovation, accelerating the decline of pure fee-for-service faster than previously projected levels. Indeed, today nearly two-thirds of payment are now based on value.These
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Kaiser Permanente, Emory Healthcare to Create New Integrated Care Model
Emory Healthcare, the clinical arm of Emory University, and Kaiser Permanente, today announced a new collaboration to develop a new integrated care model that provides Kaiser Permanente members with a fully integrated health care experience, and in the process advances patient- and family-centered care in metro Atlanta and beyond. As part of the collaboration, Emory University Hospital Midtown and Emory Saint Joseph's Hospital will become the primary hospitals for Kaiser Permanente physicians
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Innovaccer Launches Automated Chart Retrieval Solution and Physician Engagement Solution for Payers
With the introduction of new payment models and transition to a patient-centric approach, the role of healthcare payers has become imminent. Historically, healthcare payers have been relying on claims data to build and manage multiple cost reduction programs, but claims data can provide the view of only half of the picture. Payers invest millions of dollars and countless hours retrieving charts and relevant clinical data, taking up as much as 20 days. The lack of comprehensive information along
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5 Key Components of A Results-Driven AI Platform for Hospitals and Health Systems in the Era of Value-based Care
Value-based reimbursement is forcing hospitals and health systems to reduce costs and to improve outcomes. Whether they are trying to manage population health or to improve clinical pathways in hospitals, healthcare organizations need a way to understand and harness the huge amounts of data that could potentially be applied to achieving these goals. Artificial intelligence (AI) systems offer an approach that can derive actionable insights from large, complex datasets at the scale required by
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