CHICAGO -- (BUSINESS WIRE) -- Valence Health, a leading supplier of population management, clinical integration and value-based care solutions, today announced a grant-based program to help provider organizations more effectively and rapidly transition from volume-based to value-based care and payment models. This program is the first of its kind and further supports Valence’s mission of helping providers care for patient populations and accept financial responsibility for the quality of care they provide.
Under this program, formally called the “Valence Health Pathfinder Accelerator Grant”, Valence Health will make available $1 million to U.S.-based hospitals and health systems to apply towards Valence Health’s Pathfinder services.
Usually taking two to three months, Pathfinder engagements use a proprietary combination of consulting services, quantitative and qualitative analyses to develop options for the transition to value-based (aka accountable) care.
“Every hospital CEO in the country is thinking about how evolving care and payment models will affect his or her mission, employees, physicians, patients and economics,” said Valence Health CEO Phil Kamp. “These are fundamental questions that are being asked at a unique moment in our county’s healthcare history. Time is of the essence for these organizations to understand their options, and make realistic plans for the future. We have been helping hospitals and health systems develop, implement and manage risk-based arrangements of all kinds for twenty years, and we think this grant program will help bring that expertise to organizations that might otherwise be struggling to make these decisions.”
Three separate grants will be given under the program. First place recipients will receive $500,000 towards a Pathfinder engagement; second and third place will each receive $250,000 in applicable funds.
The foundational portion of the online grant application is a 1,000 word essay describing why the applying organization is in need of assistance in planning out their volume-to-value transition; including questions, challenges, and opportunities they may have in regards to providing outstanding care under a value-based model.
“There are nearly limitless variations of value-based care available to hospitals and health systems,” said Dr. Scott Cullen, Executive Director of Consulting Services, Valence Health. “The major categories include provider-sponsored plans, shared risk or full risk arrangements, the Medicare ACO program, or a clinically integrated network.” He added, “There is no one right answer for all organizations. The Pathfinder grant program will allow hospital and health system executives to leverage our experience in working with a diverse mix of clients to develop a customized and appropriate solution for their unique situation.”
Applications are available at the Valence Health Valence Health website and are due by October 31, 2013. Grant winners will be selected by a committee comprised of the three independent members of Valence Health’s Board of Directors: Bob Sheehy, former CEO of United Healthcare; George Lynn, former CEO of AtlantiCare and previous two-term chairman of the AHA; and Dr. Chris Kryder, former CEO and Founder of D2Hawkeye and founder of Generation Health. Winners of the grant will be announced at Valence Health’s value-based care conference, further 2013, to be held in Chicago November 12- 13, 2013.
For more information about the Valence Health Pathfinder Accelerator Grant, visit www.valencehealth.com/pathfindergrant.
About Valence Health:
Valence Health provides healthcare organization solutions for value-based care, helping them better manage their patient populations and accept financial responsibility for the quality of the care they provide. With unique data collection and analysis solutions, Valence Health has emerged as a leader in population management and clinical integration, serving dozens of clients from physician groups to standalone hospitals to large IDNs such as Cleveland Clinic. In-depth actuarial analysis combined with operational excellence allows Valence to not only advise but also provide ongoing services to provider organizations operating under various value-based reimbursement models. From risk-based contracting to accountable care organizations (ACOs) to administering provider-sponsored health plans, Valence has been helping providers appropriately accept and manage financial responsibility while improving clinical quality since 1996. Headquartered in Chicago, with three other office locations, Valence Health serves more than 30,000 physicians and 100 hospitals, helping them manage the health of 15 million patients nationwide. Follow Valence Health on LinkedIn and Twitter.