ITASCA, IL (May 4, 2016) – Discovery Health Partners, a LaunchPoint division, today announced the launch of its new enterprise Risk Management Program for health plans. Discovery Health Partners Risk Management Program addresses the health plan industry’s transformation to consumer-focused, outcomes-driven models that address increasing regulatory requirements while more accurately aligning premium payments with member risk factors.
The Risk Management Program enables health plans to achieve a balanced, holistic enterprise strategy that fully leverages risk management outcomes, insights, and resources across their organizations. This approach enables proactive collaboration with providers, better aligns products with current and future member health needs, and improves operational performance, all with focus on reduced cost and improved healthcare quality across the industry.
“Risk management can often be seen in terms of algorithms and mandates, but we are encouraging payers to embrace a next-generation Risk Management Program approach like ours before they are left behind by their competition,” stated Paul Vosters, President of Discovery Health Partners. “Our Risk Management Program can guide health plans through the transition to value-based programs with an eye on long-term financial health and longevity.”
Discovery Health Partners Risk Management Program combines the processes, capabilities, analytics, and transparency that allow health plans to achieve accurate member health risk profiles. This drives improvements throughout the organization including member care, revenue management, provider performance, and network management. Taken together, these improvements lay the groundwork to dramatically improve member health and reduce plan medical costs. Key features of the new solution include:
Risk Maturity Assessment: This initial diagnostic and operational assessment provides health plans with an objective validation and assessment of the successes, challenges, and opportunities in their current risk management capabilities. It results in a roadmap for plans at any level of maturity for an ongoing Risk Management Program at a level of investment and functionality that is appropriate for the health plan and that increases their sophistication year to year.
Risk Management Program: Based on the outcomes of the Risk Maturity Assessment, Discovery Health Partners next proposes a multi-year Risk Management Program consisting of the appropriate combination of four key components: Diagnostic Coding Accuracy and Completeness, Member and Provider Intervention and Retention, Population Health Enablement, and Cross-Departmental Risk Integration.
Risk Center of Excellence: The Risk Center of Excellence (COE) refers to the combined capabilities of the Discovery Health Partners consulting team with the data, technology, and operational excellence of our broader organization to help clients address an increasingly critical area of their business and financial operations. Clients will have access to these resources throughout the partnership with Discovery Health Partners, as they build their own internal expertise to execute Risk Management Program activities.
“For many health plans, a key goal of risk management has been to protect and restore premiums,” said Jordan S. Firfer, Discovery Health Partners Vice President of Product Strategy. “A modern Risk Management Program is not only about maximizing premiums from budget-constrained and budget-neutral reimbursement models, but also about a long-term, proactive approach that anticipates the needs of members and optimizes premiums in the future. Risk management holds enormous untapped industry potential, not only to focus on operational care gaps, but to improve transparency, quality, and outcomes throughout the healthcare industry.”
The Discovery Health Partners Risk Management Program team will dig more deeply into the topic at a webinar, “Next-Generation Population Risk Management,” on Tuesday, May 10, at noon Central time. To attend, please register at http://hubs.ly/H02JDk70.
To read more about the Risk Management Program from Discovery Health Partners, please visitwww.discoveryhealthpartners.com/risk.
About Discovery Health Partners
Discovery Health Partners offers payment integrity and risk management software and solutions to help health plans and other healthcare organizations improve recoveries and revenue, avoid costs, and influence member well-being. We offer a unique combination of deep healthcare expertise and powerful technology solutions to help our clients improve operational efficiency, achieve financial integrity, and generate measurable results.
LaunchPoint operates businesses that provide information-driven solutions, software, and services for healthcare organizations. Its two divisions are Discovery Health Partners, a provider of payment integrity and risk management software and solutions for healthcare payers, and Ajilitee, a healthcare information and analytics consulting business. LaunchPoint has been named two years in a row to the Inc. 5000 list, recognized as one of the country’s fastest growing companies. In 2014, LaunchPoint was named the 100th fastest-growing company on the 2014 Inc. 500 list and #14 in Healthcare. More information is available at www.launchpointcorporation.com, www.ajilitee.com and www.discoveryhealthpartners.com.