2 min read
By Signify Health News on 11/18/19 9:00 AM
Norwalk, Conn.—Signify, America’s leading episodes-of-care company, announced today it is partnering with Regence on an episodes-of-care program that will improve the cost and quality of care for Regence members.
Through the partnership with Signify, Regence will pay participating providers for delivering improved patient outcomes and lower costs over a patient’s episode of care, which covers all the care a patient receives for a procedure or condition over a defined period of time. Regence has 2.6 million members across its health plans in Washington, Oregon, Idaho and Utah.
“We’re honored to support Regence’s groundbreaking Episodes of Care program,” said Kyle Armbrester, CEO of Signify. “Signify’s deep expertise in administering episode-based payments will help lead to better care for patients.”
Episodes of Care is Regence’s first value-based program to focus on clinical procedures.
“We are looking holistically at all the care a member needs to treat a procedure or condition,” said Kristie Putnam, vice president of provider partnership innovation at Regence. “Think of a knee replacement. Traditionally, each component of care, from diagnostic studies to surgery and rehab, was treated as an isolated event. This often led to fragmented and more costly care. Under Episodes of Care, we reward providers for delivering a coordinated experience of care that leads to improved outcomes, cost and patient experience.”
Regence’s Episodes of Care program will begin with orthopedics and maternity, with plans to expand to cardiac and gastrointestinal procedures, as well as chronic conditions. The program will launch in Washington early next year, with plans to expand to Oregon, Idaho and Utah.
Supported by Signify, Regence will employ a broad network strategy for Episodes of Care instead of making it available only to providers that specialize in certain procedures or conditions.
Episodes of Care puts Regence at the forefront of innovation in how to pay for health care. The Centers for Medicare & Medicaid Services (CMS) has prioritized alternative payment methods, including episode-based payments, as a way to address rising health care costs.
Signify 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. Signify delivers software and services enabling health care providers and health insurers 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. For more information, visit signifyhealth.com.
Regence serves more than 2.6 million members through Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah, Regence BlueShield of Idaho, and Regence BlueShield (select counties in Washington). Each health plan is a nonprofit independent licensee of the Blue Cross and Blue Shield Association. Regence is part of a family of companies dedicated to transforming health care by delivering innovative products and services that change the way consumers nationwide experience health care. For more information, please visit regence.com.