Carrum Health Adds Stanford Health Care – ValleyCare to its COE Network
September 13, 2016
Carrum Health announced today that it has significantly enhanced its bundled payment platform offering by expanding their West Coast presence through a new partnership with Stanford Health Care – ValleyCare. Under the terms of this agreement, Stanford Health Care – ValleyCare will provide high-quality, value-based care for planned orthopedic and spine procedures to the employees of Carrum clients throughout Northern California and beyond.
Carrum Health is the first comprehensive bundled payment platform for employers. Their award-winning, innovative solution reimagines the way healthcare is modeled, purchased and delivered by directly connecting employers to high-quality, cost-efficient providers while supporting patients with a high-touch concierge experience. The Carrum West Coast Centers of Excellence network now includes Stanford Health Care – ValleyCare, Scripps Health in Southern California and the Providence-Swedish Health Alliance in the Pacific Northwest.
“We specifically sought out Stanford Health Care – ValleyCare due to the exceptional quality outcomes of the organization itself as well as the individual surgeons who will be directly touching patients,” said Sachin Jain, Chief Executive Officer of Carrum Health. “With Stanford Health Care – ValleyCare , our expanded Centers of Excellence network can now confidently bring high-quality care and significant cost savings to self-insured employers up and down the West Coast.”
Carrum’s solution moves away from the antiquated way healthcare is purchased and delivered and instead utilizes a new value-based reimbursement model with bundled payments at its core. These bundled payment programs group together the multiple services associated with a certain health “episode,” condition or procedure – such as knee/hip replacement, spinal fusion or coronary bypass – and provide those services for one all-encompassing and pre-negotiated payment that includes both financial and performance accountability.
As one of the early pioneers in the space, Jain believes that through such an arrangement “everyone wins. Employers receive significant financial savings and cost predictability. Employees receive better outcomes and a vastly enhanced patient experience. And providers receive access to a new distribution channel with one-stop access to incremental volume and immediate bundled payments.”
“Partnering with Carrum is a great opportunity for Stanford Health Care – ValleyCare to provide our best in class orthopedic services to a broader community,” said Scott Gregerson, Stanford Health Care – ValleyCare President.
It is estimated that by 2018, 50 percent of all Medicare reimbursement will be tied to value-based models, and where Medicare leads the rest of the industry traditionally follows. Already some of the nation’s most progressive employers have begun embracing bundled payment arrangements as a way to provide value-based benefits to their employees.