Aetna is setting a new standard for healthcare partnerships as it joins forces with a north Texas health system in hopes of focusing on improving quality care, affordability and overall patient care. Partnerships are no stranger in the healthcare world, but insurers and providers partnering up to provide better care and better coordinate care, is a trend we expect to see grow in 2016.
Aetna announced in a press release that it would be establishing a new partnership with North Texas Resources to provide “high-quality, affordable health care coverage in North Texas.” The two healthcare companies with share ownership and accountability of the new health plan. Hoping to focus on “combining fully integrated care teams, health insurance benefits and administrative services to eliminate redundancies of care and to reduce administrative hassles.”
“This partnership aligns our two organizations’ commitment to build more sustainable value-based models of care, which will help to deliver better outcomes and lower costs, while providing an unmatched patient and provider experience. It’s what consumers expect of us in this new economy and, frankly, what we expect of ourselves.” Barclay E. Berdan, FACHE, CEO of Texas Health Resources
This model isn’t exactly new, as it stems from the idea of the Accountable Care Organization, which are designed to equal out accountability within organizations. A more sustainable way of working together, jointly owned health plans can help optimize health delivery in the ever-changing healthcare market.
This isn’t Aetna’s first foray into accountable care partnerships. It partnered with Inova Health System of Virginia in2012 to establish a jointly owned health plan.
- Blue Cross Blue Shield of Illinois entered into a partnership with Advocate Health Care in late 2015. The Chicago SunTimes mentions that this new health plan will have some the cheapest options for consumers*.
- Anthem partnered up with Aurora Health Care to create new health insurance company, Wisconsin Collaborative Insurance Co., in April 2016.
It’s common for hospitals and health systems to own their own health insurance companies, but jointly sold and operated products offered by providers and partnering insurers is a relatively new trend gaining momentum.