CareFirst, MedStar launch multi-year value-based care partnership

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CareFirst BlueCross BlueShield and and MedStar Well being are teaming as much as launch a value-based care initiative they are saying may save $400 million over the following seven years.

The worth-based association will probably be led by a workforce managed collectively by CareFirst and MedStar representatives, the 2 organizations mentioned Wednesday. Targets embody enhancing the affected person expertise, specializing in methods to raised coordinate care, providing a extra customized method and sharing information.

“We applaud MedStar for his or her management in becoming a member of with us to assist remedy one of the vital complicated issues in america economic system – serving to to scale back the speed of escalations in healthcare prices, which impression governments, employers and households,” mentioned CareFirst President and CEO Brian Pieninck, in a press release.

“As two not-for-profit healthcare firms spanning the identical area and serving the identical folks, we’ve a shared duty to make sure members and employers are getting most worth for his or her healthcare greenback. By this distinctive partnership, we’ll assist to remodel the healthcare panorama to ship on our shared missions to extend entry to high quality, inexpensive care,” Pieninck mentioned.

RELATED: Affected person-centered medical residence program saves CareFirst $1.2B, pays off for medical doctors

As well as, the 2 companions hope the brand new association can enable them to extra successfully handle healthcare disparities within the mid-Atlantic area. The necessity to improve such work was underscored by the COVID-19 pandemic, which is having a disproportionate impression on communities of shade and different susceptible populations.

CareFirst and MedStar mentioned they intend to harness their joint information capabilities to establish geographies which might be underserved and scale up capability as wanted.

Additionally they plan to work collectively to check and establish essentially the most urgent well being disparities that pose obstacles to care, and handle them.

“Working collectively to take away obstacles and remedy challenges will present our sufferers with extra handy entry to handle their well being and expertise higher outcomes, whereas serving to to make care extra inexpensive.  This essential new partnership will profit the communities we already serve collectively,” mentioned Kenneth A. Samet, President and CEO of MedStar Well being. 

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