As our industry transitions to value-based care health care, systems with their own health plans are gaining traction.
Provider-sponsored health plans (PSPs) have the unique ability to both design and deliver value-based care (VBC) and, if successful, can retain a higher proportion of premiums paid by members. There’s also a new level of financial risk that comes with managing one.
What’s the best way for PSPs to make it in the VBC world?
We have some ideas for you to consider.
Many insurance plans launched by health systems struggle to attain profitability. But, some find success. What makes the difference? What thwarts a PSP’s ability to drive revenue? And what factors consistently foster growth?
Carole Cusack, Vice President of Innovative Provider Solutions at 3M, analyzes the current PSP situation in an article published by Healthcare Financial Management Association.
Did you know 50 percent of U.S. health systems have applied, or intend to apply, for an insurance license? Health Management Technology recently featured an article written by 3M’s Kristine Daynes that addresses the growing trend of PSPs, and explains how PSPs succeed financially in a VBC environment.
PSPs are working hard to both deliver care and provide coverage. See how 3M helps PSPs tackle value-based payment models, provider profiling, network design, care management and physician engagement.
Need to overcome a major challenge, or simply optimize how your organization works? With our incredible access to—and in-depth knowledge of—healthcare data, we are ready to help.
A member of our team will be in touch to find out how you’d like to manage smarter and perform better.
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