NEWS PROVIDED BY
Integra Connect
Early success reinforces oncology providers' growing interest in commercial alternative models, and sets the stage for success under risk-sharing contracts
WEST PALM BEACH, Fla., Oct. 18, 2023 /PRNewswire/ -- Integra Connect, LLC., a leader in value-based, precision medicine solutions for specialty care, announced that more than 3,800 oncologists from nearly 100 community practices, cancer institutions, and health systems adopted its value-based care (VBC) contracting solutions, in the last 1.5 years. This includes participation in one of the oncology alternative payment models (APMs) administered by the Company.
More providers are moving towards VBC with the aim to drive improvements in the quality of care, the cost of treatment decisions, and the processes that improve overall patient health. However, the cost of cancer care continues to outpace other sectors of the U.S. health care system, with 7% of all health care spending associated with cancer diagnosis, treatment, and survivorship. This has led to the creation and launch of alternative payment models (APMs) that reward providers who can demonstrate improved patient outcomes at lower costs. Integra Connect's latest oncology APM is with a leading commercial insurer that covers approximately 50 million patient lives nationwide.
"We are incredibly proud of our ability to support oncology providers' efforts to deliver high-quality patient care, at a reduced cost through our oncology-specific value-based care contracting solutions," said Dr. Jeffrey Scott, Chief Medical Officer of Integra Connect. "The exponential growth of our provider footprint speaks to providers' increasing demand for commercial alternative payment models that they believe to be 'low-risk' and will enable their success in value-based care models."
A 'low-risk' APM is one that features data, technologies, and hands-on support for practices, requires little-to-no financial investment from the organization and features an administrator with a proven track record of enabling improvements in care and practice performance under VBC contracts, advised Scott.
The Company previously supported more than 1,500 oncology providers and health systems under The Center for Medicare & Medicaid Innovation's (CMMI) Oncology Care Model (OCM) as they worked to improve patient outcomes and reduce costs. As of the 11th performance period, preliminary analyses showed that Integra Connect generated more than $260M in value-based care revenue, including more than $100M in shared savings for its participating practices.
"This is an exciting milestone for Integra Connect because it reinforces that we are the partner-of-choice for organizations looking to succeed with oncology value-based care," said Raj Mantena, Chairman and Founder of Integra Connect.
"By demonstrating our ability to enable providers and payers to work together to improve cancer care outcomes and costs, we are also establishing a strong foundation for success with the next-generation of value-based care models, in which cross-industry collaboration and risk-sharing will be key."
About Integra Connect, LLC.
Integra Connect is a value-based, precision medicine company that leads the industry in real-world data and analytics capabilities for oncology. With data from more than 11 million unique patient lives, decades of value-based care expertise and sophisticated technologies, it enables specialty care providers, health systems, payers, and life sciences companies to improve patient outcomes, provider decision-making, business operations and performance, and clinical research for success under value-based care models.
Since it was founded, Integra Connect has supported more than 5,000 providers, six payer organizations, and a multitude of life sciences companies in their efforts to advance value-based, precision medicine. Notably, Integra Connect enabled more than 1,500 oncology providers and payer organizations to succeed under the Oncology Care Model, generating more than $260M in value-based care revenue, including more than $100M in shared savings for participating practices, supported the creation and launch of alternative payment models for oncology, and leveraged our real-world data set to enable life sciences research into precision medicine advancements.
To learn more, please visit: Integraconnect.com or LinkedIn.
CONTACT:
Alyssa Howerton
240 816 1645
alyssa@fordhutmanmedia.com
SOURCE Integra Connect