Beaumont will also work with insurance carriers to bring the program to life
Beaumont Health will work with Remedy Partners on a plan to develop, deliver and manage employees’ health care. Remedy is an episodes of care company that connects employers, insurance companies and health care systems to deliver more cost-effective care and improved consumer experiences. The services will range from diagnostic tests and surgery, to medication and rehabilitation, for a negotiated fixed price.
The innovative concept will change how health care is delivered and paid for, creating cost-savings and enhancing the patient experience. Remedy and Beaumont will help define, administer and negotiate a total cost for all aspects of specific medical procedures, such as a knee or hip replacement, and provide details to employers and patients about the cost of health care procedures.
As employers look to contain rising health care costs without compromising quality, options such as contracting with health care providers and working with insurance companies become more attractive.
“We are always exploring ways to increase quality and lower health care costs. Remedy’s expertise will help us encourage companies and employees to make better health care decisions,” Ryan Catignani, Beaumont vice president of managed care and accountable care services, said.
Beaumont will leverage Remedy’s data and advanced analytics to develop pricing models based on an episodes of care methodology. Remedy maintains a nationwide network of health care organizations serving large Medicare populations. Together, with its partners, Remedy has reduced Medicare spending on episodes by almost 10% and achieved better outcomes for patients covered by these programs.
“The journey toward a sustainable health care system has been long overdue. Beaumont is a trailblazer with a progressive approach to offering exceptional, cost-effective care,” Remedy Chief Revenue Officer Bob Meier said. “We are excited to partner with Beaumont and work together to transform health care.”
For more information: www.beaumontemployerservices.org
Beaumont Health is Michigan’s largest health care system and is most preferred for health care in Southeast Michigan, according to NRC Health survey data. The not-for-profit organization was created to provide patients with greater access to compassionate, extraordinary care, every day. Beaumont Health has a total net revenue of $4.7 billion and consists of eight hospitals with 3,429 beds, 145 outpatient sites, nearly 5,000 physicians, 38,000 employees and 3,500 volunteers. In 2018, Beaumont Health had about 178,000 inpatient discharges, 18,000 births and 573,000 emergency visits.
Remedy Partners is America's leading episodes of care company, which connects employers, insurance companies and health care systems to deliver more cost-effective care and improved consumer experiences. Remedy delivers software and services enabling health insurers and health care providers to organize and finance health care around patient episodes of care. The Company’s bundled payment network serves Medicare and private insurers and manages over $9 billion of annual health spending.