ATLANTA and BOSTON , June 21, 2022 /PRNewswire/ — 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.
“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.
“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.
HSBlox is an Atlanta-based technology company empowering healthcare organizations with the tools and support to deliver value-based care (VBC) successfully and sustainably. HSBlox’s CureAlign® platform enables healthcare organizations to administer value-based programs, including contract modeling, network build-out, contract administration, permissioned data exchange and payment. Recently, the company released CureAlign 3.5, combining its Contract Builder and modeling capabilities with its Contract Library for seamless deployment of value-based programs. Along with CureAlign’s one-of-a-kind hierarchical approach to VBC participant onboarding, alternative payment models can combine global reimbursement programs with episode-specific arrangements to deliver unparalleled transparency in pursuit of the Quintuple Aim for healthcare improvement.
HealthCorum is a Boston-based health data analytics company focused on identifying unnecessary care, optimizing referral patterns, and reducing wasteful spending. HealthCorum’s proprietary technologies combined with its AI-powered algorithms help to save money for healthcare organizations, offering a holistic view of provider efficiency and value-driven practice patterns. Work is done collaboratively with clients to achieve better outcomes while reducing low-value care delivery. The level of transparency delivered also allows provider network stakeholders to have better and more meaningful relationships with providers to truly affect change. Visit www.healthcorum.com to learn more about our methodologies and solutions.
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