HSBlox, the leading provider of value-based care program administration in healthcare, and HealthCorum, an innovator in health data analytics whose insights drive high-value care in provider networks, have partnered to deliver high-performance networks and increase medical cost savings.
The partnership brings complementary capabilities together to enable payer and provider stakeholders in value-based care to align resources under value-based programs and alternative payment models. The combined capabilities integrate HealthCorum’s proprietary scores and metrics, which identify high-performing providers, into HSBlox’s CureAlign platform that models, operationalizes and scales value-based contracts, delivered in a network-of-networks approach that addresses the unique financial funding, data-sharing, and timely performance reporting needs of the shift from traditional fee-for-service to more global and prospective models.
Recommended AI News: Getty Images Revolutionizes Visual Communications with VisualGPS Insights Launch
“Identification of high-value services and referrals under risk-bearing contracts is an imperative as the industry continues its migration to value-base care,” said Lynn Carroll, HSBlox COO. “Partnering with HealthCorum gives our payer, employer and risk-bearing provider customers additional capability for managing financial performance and quality metrics under value-based programs.”
Whether in fee-for-service, pay-for-performance or risk-contracting programs, healthcare organizations are focused on reducing wasteful health spending. An analysis published in The Journal of the American Medical Association pegged wasteful spending in the U.S. healthcare system at 25%, equating to over $1 trillion annually as national health spending eclipsed $4.3 trillion in 2021. The shift to value-based care remains as critical as ever, with success often hinging on an organization’s ability to predict how providers will perform in at-risk arrangements. Additionally, payers in traditional fee-for-service models still need actionable data to employ provider network optimization strategies that will curb unnecessary spending.
Recommended AI News: Huobi Global Unveils Blockchain Ecosystem Investment Arm Ivy Blocks to Spur Industry Development
“HealthCorum was founded with the mission to reduce healthcare costs through the identification and reduction of low-value care,” said Keith Somers, Chief Revenue Officer at HealthCorum. “We admire what HSBlox has developed in its CureAlign solution and are excited to announce that current and future clients can leverage HealthCorum’s data and insights to amplify already powerful capabilities within the platform.”
As HSBlox clients model value-based programs in the CureAlign Contract Builder, HealthCorum’s provider analytics can now help enable participating provider evaluation to ensure high-performance program development. HealthCorum’s solution delivers insights focused on care quality, cost, and efficiency, catalyzing ample opportunities to increase network value.
Recommended AI News: Ooredoo Selects Icertis Contract Intelligence as Part of Enterprise Digital Transformation
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.