New Intermountain Healthcare Company Announced to Elevate Value-Based Care Capabilities
Intermountain Healthcare has formed a new comprehensive health platform company focused on elevating value-based care capabilities with providers, payers, healthcare systems, and accountable care organizations
SALT LAKE CITY, July 16, 2019 /PRNewswire/ -- The new company, named Castell, will enable other organizations to accelerate their transition from volume to value-based systems of care, while keeping care more affordable and accessible.
"Intermountain Healthcare's mission is to help people live the healthiest lives possible. This commitment is the same no matter where, when, or with whom people get care," said Marc Harrison, MD, Intermountain president and CEO. "Castell is a critical component of Intermountain's broad vision for healthier communities. It creates a new path for providers to access the support they need to provide high quality, affordable care to their patients across the nation."
Rajesh Shrestha has been named as the president and CEO of Castell. In addition to leading Castell, Shrestha serves as vice president and chief operating officer of Community Based Care for Intermountain Healthcare. He has more than two decades of experience accelerating other health companies move from fee-for-service to value-based care.
"Healthcare's ongoing shift from volume to value-based systems of care enables providers, health systems, and payers to take a more holistic approach to managing the health of their patients, but also creates more financial risk or rewards," said Shrestha. "The health platform capabilities, tools, and resources that Castell provides will strengthen the ability of the health ecosystem to thrive in a value-based care environment."
Castell's foundation is built on lessons learned, adapted based on the successes and obstacles encountered at Intermountain, within local provider networks, and other population health-focused programs.
It will offer a comprehensive platform of tools and services to support transformation and improvement:
- A proven value-based clinical care model called "Reimagined Primary Care"
- A technology and analytics platform to guide care
- Streamlined affiliated network management
- Digital tools to address virtual care, patient experience, and social determinants of health
- Access to cutting-edge initiatives and innovation coming out of Intermountain Healthcare
- Opportunity to utilize care pathways and clinical best practices developed by Intermountain Healthcare
Intermountain has experienced many successes with its value-based care management programs. For example, in 2018, Intermountain introduced its "Reimagined Primary Care" model for physicians and patients, which is now being extended to more providers through Castell.
This focus on preventive care enabled physicians to spend more time with high-risk patients to get upstream of potential health issues. After just one year, the program produced strong results, including:
- 60% reduction in Medicare Advantage admissions
- 25% fewer commercial insurance admissions
- 20% decreased per-member per-month costs
- Improved patient ratings
- Improved physician satisfaction
"Proven methods for simplifying value-based care are needed across the healthcare industry," said Shrestha. "Backed by Intermountain's day-to-day frontline experience with a focus on population health management, Castell will deliver impactful solutions that help other organizations improve outcomes and keep costs more affordable."
For more information visit CastellHealth.com.
Intermountain Healthcare is a Utah-based not-for-profit system of 24 hospitals, 160 clinics, a Medical Group with some 2,300 employed physicians and advanced care practitioners, a health insurance company called SelectHealth, and other health services. Intermountain is widely recognized as a leader in transforming healthcare through evidence-based best practices, high quality, and sustainable costs. For more information about Intermountain, visit intermountainhealthcare.org.
This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com
SOURCE Intermountain Healthcare
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http://intermountainhealthcare.org
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