Could the joint venture plan model help healthcare achieve higher standards?
Providers and carriers are teaming up on healthcare — and there are advantages for employers and employees.
The joint venture health plan model aligns the economic incentives of the carrier and the provider. This model aims to reduce healthcare redundancies and fragmentation while improving cost savings and overall employer and member satisfaction. The coordination between both organizations in joint ventures personalizes the member experience — from pre-enrollment to claims processing.
The joint venture structure offers integrated health plan-delivery networks through more timely and effective support of member needs. This could potentially help improve engagement and reduce overall healthcare costs for employers and workers.
Building solutions that make healthcare easier to understand is key for both employers and employees. A joint venture health plan is typically better situated to maximize the human connection during a member’s in-person visit to a provider and extend member support beyond the walls of a hospital or a clinic — by providing care via text, call or video.
Health plans that offer joint venture resources like access to a local care management team who support members and their families can identify high-risk/cost members by using integrated data and personalizing next steps for treatment and care.
These resources reduce waste, such as unnecessary urgent care visits, by encouraging ongoing engagement of primary care physicians. Primary care can cover the “majority of a person’s needs throughout their live,” according to the The World Health Organization. The promotion of primary care relationships, integration of data analytics and personalization of care teams by joint ventures simplifies the overall member experience.
This structure informs providers of member needs through collaborative development and adherence to personalized care plans. Employers find assurance in the fact that these joint venture arrangements consider both the carrier and provider sides of the business while remaining focused on member health.