DALLAS & FRESNO, Calif .– (COMMERCIAL THREAD) –Signify health (NYSE: SGFY), a leading value-driven healthcare platform that leverages advanced analytics, technology, and national healthcare provider networks, and Health Comp, the nation’s largest independent health benefits administrator, today announced a new strategic collaboration to provide self-funded employer groups with an affordable health benefits package that integrates value-based payments with a benefit design based on value.
“After successfully building a value-based care platform to support providers, employers and healthcare plans that are committed to improving patient outcomes, our collaboration with a leading third-party administrator such as HealthComp opens up new opportunities to drive transformation away from disrupting the fee-for-service model, ”said Peter Boumenot, Product Manager, Signify Health. “We believe that the convergence of value-based payments with a value-based service design is essential for all stakeholders, both at the individual and the population level. HealthComp’s proven capabilities will help us close this gap for employers across the country looking for turnkey solutions that improve costs and results.
“The majority of employers we work with are looking for new ways to strengthen alignment of cost, quality and member satisfaction with their benefit offerings, ”said Justin Tran, senior vice president of management. medical costs at HealthComp. “By working with Signify Health, we have a unique opportunity to bring together advanced alternative payment models with advanced benefit designs that deliver the clinical and operational excellence needed to address the root causes of suboptimal health outcomes and escalating costs. . ”
Employers are increasingly adopting value-based insurance (VBID) designs, which align the appropriate use of high-value health services with the engagement of high-performance providers who are accountable for health outcomes. A new white paper published by VBID Health describes how VBID and alternative payment models can be combined to improve overall health and reduce the costs of delivering health care and refers to many tools available to employers working in collaboration with providers, third-party administrators and carriers. Early results from similar payment agreements with Signify Health have shown a promising reduction in health plan expenses and adverse clinical events for members engaged in the program.
The partnership will focus on leveraging Signify Health’s industry-leading episode financing and high-value supplier networks, as well as HealthComp’s innovative approach to comprehensive benefits administration and delivery. ‘member engagement, to create a more affordable, predictable, transparent and member-centric benefit design. . The value-based benefits developed by HealthComp and powered by Signify Health’s value-based payment platform will be offered in select markets in the United States.
About Signify Health
Signify Health is a leading healthcare platform that leverages advanced analytics, technologies and nationwide healthcare provider networks to create and power payment programs based on value. Our mission is to transform the way care is paid and delivered so people can enjoy healthier, happier days at home. Our solutions support value-based payment programs by aligning financial incentives with results, providing tools to healthcare plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improve patient outcomes, coordination and cost savings. Through our platform, we coordinate what we believe to be a holistic suite of clinical, social and behavioral services to meet an individual’s health needs and prevent adverse events that result in excessive costs, while moving services. to the home. For more information on how we bring health home, visit us at signifyhealth.com.
For more than 25 years, HealthComp has been dedicated to transforming benefit administration. Bringing together concierge service, operational excellence, powerful analytics and cost management, HealthComp has built a solution that fits seamlessly into any benefits ecosystem. We focus on administering innovative solutions for custom networks and ACO-type benefit offerings. HealthComp is the nation’s largest independent health benefits administrator with offices in California, Illinois, West Virginia, and Pennsylvania. For more information, visit HealthComp.com.