PR Newswire: CareSignal Announces Addition of At-Risk Pricing Option, Driven by Confidence in Proven Implementation Practices and Repeatable Clinical Outcomes
September 23, 2020 at 3:12 PM
At-risk pricing brings innovation to patients faster while helping providers and plans confidently invest resources to create the largest clinical and financial impact in value-based care populations.
ST. LOUIS, Sept. 22, 2020 /PRNewswire/ -- CareSignal, offering Deviceless Remote Patient Monitoring validated by over 10 peer-reviewed journals to deliver industry-leading clinical and financial returns, announces that it will take financial risk on any new contract under a risk-based pricing model.
Providers and payers in value-based care contracts stand to benefit most from this new pricing model: As clients of CareSignal, these organizations can hedge the risks traditionally associated with adopting a new RPM solution and know that CareSignal is working shoulder to shoulder to deliver the greatest possible return on investment within a short time horizon. With more than 20,000 commercial patient-years of experience to date, CareSignal consistently shows an ROI of 4.5 times to 10 times, depending on contract structures and population inclusion criteria. CareSignal works with dozens of leading health systems, physician groups, Medicare Advantage populations, and payers across the country.
"CareSignal's proven outcomes, verified by peer-reviewed publications and claims-based financial analyses, serve as the foundational assumptions for the initial business case," said Joe McDonald, president of CareSignal. "Value is driven by outcomes ranging from a 62% reduction in COPD hospitalizations to a 46% reduction in CHF ED visits to a 1.15% reduction in HbA1c to a 28% reduction in PHQ-9, among others. We have designed our at-risk pricing to be a substantial upfront discount with the performance-based payments only to be paid after value generated exceeds the discounted costs. As our partners take on increased levels of financial risk for outcomes, at-risk pricing further aligns incentives to create substantial value together."
CareSignal created and launched at-risk pricing to align with the industry's growing appetite for value-based contracting, as well as the growing need for scalable, clinically impactful solutions that can reach challenging populations with chronic and behavioral health conditions. In addition to providing all outreach, enrollment, and engagement services required to activate thousands to tens of thousands of patients per client, CareSignal continues to invest heavily in clinical development and patient-centered design. Accepting financial risk with clients demonstrates a commitment to building sustainable, impactful innovation within the healthcare industry.
"Taking a financial risk, as a technology company, requires a level of confidence in the solution you're offering — and also in your ability to help your individual clients succeed," said Blake Marggraff, CEO of CareSignal. "CareSignal's track record, now including tens of thousands of patient-years and dozens of publications and case studies, gives us the confidence to enthusiastically stand shoulder to shoulder with healthcare organizations that are taking a real risk and generate win-win outcomes faster than ever. This choice is more than a business strategy; I firmly believe that putting skin in the game is a moral responsibility as the healthcare industry must make challenging financial decisions while always prioritizing patients."
The CareSignal Deviceless Remote Patient Monitoring™ platform improves payer and provider performance in value-based care. The company leverages real-time, self-reported patient data and artificial intelligence to produce long-term patient engagement while identifying clinically actionable moments for proactive care. Its evidence-based platform has been proven in 10 peer-reviewed studies and over a dozen payer and provider implementations across the U.S. to sustainably scale care teams to help over 10 times more patients, resulting in significant improvements in chronic and behavioral health outcomes and reduced ED utilization. With confidence in its outcomes, CareSignal offers partners at-risk pricing and consistently delivers 4.5 times to 10 times ROI within the first year of its partnerships. For more information, visit our website or try a self-guided demo.
Ardyst Zigler, PR Strategist at Influence & Co.