Proven Success with Medicare’s Bundled Payments for Care Improvement Program Sets Stage for Success in Private Insurance Market With Self-Funded Employers, Commercial Payers and Providers
NORWALK, Conn. – October 30, 2018 – Remedy, the nation’s leading episodes of care company, today announced that it has tripled its business under Medicare’s Bundled Payments for Care Improvement Advanced (BPCIA) program. This builds off its original base of BPCI participants, 95 percent of whom are continuing with Remedy, many adding new episodes based on their success in managing these episodes of care. Many of Remedy’s partners are achieving double digit savings in the program and the overall savings rate for all participants working with Remedy is currently greater than eight percent.
To date, Remedy has managed over 500,000 cumulative BPCI episodes with a total medical spend in excess of $13 billion. With the company’s proven track record of success in driving consistent savings, Remedy expects to save Medicare more than $250 million annually across surgical and medical episodes of care in BPCIA.
Based on its ability to deliver nearly double-digit savings for participants, Remedy is well-positioned for rapid expansion into the private insurance market where significant demand exists from employers, commercial payers and providers for innovative solutions to rising healthcare costs.
“When we align healthcare around episodes, we are transforming how patients themselves understand and experience their care,” said Chris Garcia, CEO of Remedy. “The numbers are clear, episodes work, not only by significantly bending the cost curve but also by improving the patient experience and outcomes. These results signal to the private sector that episodes will be a big part of how healthcare is organized, financed, measured, experienced and consumed in the future.”
Remedy’s bundled payment network is now the nation’s largest and growing. It services nearly 30 percent of all episodes (bundles) now managed across the BPCIA program.
About Remedy Partners
Remedy Partners delivers software and services that enable payers, employers and at-risk providers to organize and finance healthcare delivery around a patient's episode of care. For healthcare providers, Remedy Partners’ software, analytics and administrative services support bundled payment contracts with Medicare and commercial insurers, often through shared-risk partnerships. For payers, Remedy Partners empowers the development of bundled payment contracting programs and guides the development of bundled payment networks. Remedy Partners presently delivers its services to partners at more than 1,000 healthcare locations nationwide. To learn more, visit www.remedypartners.com or find us on Twitter @RemedyPartners or on LinkedIn.
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