Company will establish a regional network of episode of care-contracted hospitals and provider groups that have demonstrated a sustained commitment to excellence and positive patient outcomes
NORWALK, Conn.--(BUSINESS WIRE)--Remedy, America’s leading episodes of care company, announced today that it will support the state of Connecticut’s first-ever episode of care-contracted network of “Centers of Excellence” and distinction – a system of hospitals and other health care providers that verifiably provide the best possible health care outcomes for patients at reasonable prices and accept accountability for those outcomes. Remedy was selected by State Comptroller Kevin Lembo following a rigorous vetting process to ensure hundreds of thousands of Connecticut residents on the state health plan are equipped to make informed treatment decisions.
“Patients have been forced to make important decisions about where to receive treatment or have major surgical procedures with little to no information about which facilities have the best outcomes, Lembo said. “This is unacceptable. Instead of leaving patients in the dark, the state will work with its partners to identify those facilities that are true Centers of Excellence. Patients will, for the first time, be able to see who performs best for each procedure or service and make informed decisions about where to receive care.”
Through this public-private partnership, Remedy will help Connecticut identify the top performing care providers in the state, the region, and nationally, across a multitude of procedures and conditions, and secure the best available rates for services covered under this program. This will allow the state to achieve deeper savings for better patient outcomes. The engagement will also support a culture of continuous improvement across the broader health care market, as all institutions can enhance the quality of care they deliver with the technical assistance and performance reporting provided by Remedy.
"It's a privilege to support the State of Connecticut in its efforts to significantly improve the quality and affordability of healthcare," said Kyle Armbrester, CEO of Remedy. "By aligning physicians, hospitals, and other providers into a network of distinction and Centers of Excellence and giving them clear incentives to drive better clinical and social outcomes, we believe that this program will be a guiding light for large and small employers across the country."
This program, which is the most ambitious yet attempted by a state for its employees, retirees and their dependents, is designed to cover routine and complex procedures, as well as chronic and other conditions for which there is demonstrated unwarranted variation. Physician groups, hospitals, health systems and other providers will have to compete based on the value of care they deliver, and not just within the state of Connecticut, but regionally and nationally, setting the stage for a highly accountable health care system.
Remedy 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 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 www.powerofremedy.com.