MedVentive-driven insight to create synergy between health plan, clinicians and members
Waltham, Mass.– April 15, 2011 – MedVentive announced today that Virginia Premier Health Plan Inc., an award-winning managed care organization for underserved and vulnerable populations in Virginia, recently selected MedVentive technology to help the health plan and its physician groups to work more closely together to improve member health outcomes while reducing costs.
Virginia Premier partners with Virginia Commonwealth University Health System to provide health care services to Virginia residents who receive Family Access to Medical Insurance Security (FAMIS) and Medicaid’s Low Income Families with Children (LIFC) and Aged, Blind, and Disabled. The plan is the top-ranked Medicaid health plan in Virginia and the 28th in the United States, according to US News and World Report, and achieved “Excellent” accreditation status from the National Committee for Quality Assurance (NCQA) in 2009.
MedVentive Risk Manager will enable Virginia Premier to manage, analyze and improve all aspects of quality and cost, including inpatient, outpatient and pharmacy expense and utilization, network referral patterns, physician efficiency, and quality of care. It will also support Pay-for-Performance (P4P) initiatives and drug substitution programs in order to drive true cost savings and improve quality results.
“As with Virginia Premier, MedVentive’s goal is to deliver better care at lower cost,” said Nancy Ham, President and CEO of MedVentive. “Our technology allows transparency and efficient communications with physicians promoting timely, more effective care interactions with patients and supports the implementation of proper incentives for the right care.”
About Virginia Premier
Virginia Premier is contracted with the Virginia Department of Medical Assistance Services to provide health care services to the recipients of the Family Access to Medical Insurance Security (FAMIS) and Medicaid’s Temporary Aid for Needy Families and Aged, Blind, and Disabled residents of the Commonwealth of Virginia. Virginia Premier was formed for the sole purpose of effectively coordinating health care for low-income persons. Owned by the Virginia Commonwealth University Health System, Virginia Premier currently services 152,000 members. For more information about Virginia Premier, please visit their website at www.vapremier.com.
About MedVentiveWhile healthcare was evolving the concept of an accountable care organization, MedVentive was busy operating as one. MedVentive was founded as the Provider Service Network (PSN) in 1997 by the CareGroup Healthcare System, an integrated, at-risk network of 4,500 physicians and eight hospitals that cared for more than 450,000 at risk patients.
Our origins as an ACO give MedVentive a deep understanding of provider organizations and the healthcare environment. Having been an at-risk provider network, MedVentive is uniquely qualified to support an organization’s transition from a fee-for-service payment environment to risk-based contracting, and provide the clinical integration/population management infrastructure necessary to be successful under this new model.
To learn more, please visit www.medventive.com or call (781) 290-2500.