The joint venture looks to enhance patient outcomes while reducing overall costs for those who receive and pay for care.
CLEVELAND — University Hospitals has formed a joint venture with ValueHealth LLC, a nationally recognized digital health company empowering consumerism and payment reform, to create a “high-value network of state-of-the-art ambulatory surgical centers.”
This means that UH’s network will be expanding in surgical care with a focus on orthopedic surgery, specifically hip and knee replacements. The facilities will be multi-specialty and may also include clinical services such as pain management, urology, cardiac care, and more.
ValueHealth’s stated expertise and reputation for developing demand matching surgical networks and bundled payment programs will bring enhancements to UH’s facilities while reducing the cost associated with the standard “fee-for-service” model. Executive Chairman John Palumbo said:
“We are pleased to join with UH in expanding value-based care options for the Northeast Ohio community. UH is well known for providing the highest quality, advanced care while continuously innovating care models for the benefit of patients and payors. Joining UH’s unequaled standards with more than two decades of ValueHealth’s pioneering spirit in the ambulatory care space will significantly move the needle in UH’s value-based care transformation journey.”
UH is just one of over 30 health systems currently partnering with ValueHealth’s payor-led, tech-enabled, data-driven digital surgical network. Their proprietary technology includes patient management, payor bundles, and warranty contracts, as well as the Ambulatory Centers of Excellence (ACE) program that designates ambulatory surgical centers for exceeding national accrediting standards and meets ValueHealth’s stricter clinical, quality, and financial measures.
UH President Cliff A. Megerian, MD, FACS released the following statement:
“UH has been on a journey over the past several years to reduce variation in care while enhancing the service experience, improving quality and reducing cost. We have demonstrated success with national bundle payment and travel surgery programs built around centers of excellence in areas such as joint replacement and bariatric surgery… ValueHealth’s established relationships with employer consultants and national payors will augment UH’s ability to design win-win bundled payment contracts, bring our world-renowned surgical expertise to more consumers in a value-focused model.”