Transcarent, Glen Tullman’s care navigation company, gained 10 new health system partnerships this week. These health systems are part of the company’s new provider network, which seeks to help its employer customers provide their staff with access to high-quality, affordable care.
The 10 health systems making up the network are Mount Sinai Health System, Mass General Brigham, Intermountain Health, Baylor Scott & White Health, Hackensack Meridian Health, Memorial Hermann Health System, Atrium Health, Advocate Health, Corewell Health and Virginia Mason Franciscan Health.
San Francisco-based Transcarent sells its solution — a platform that allows patients to conveniently access care online — primarily to self-insured employers. On the platform, patients can schedule appointments with in-network providers, arrange for providers to visit their homes, access therapists and specialists and place orders for prescription delivery.
“National employers are facing a significant dilemma — most are self-insured, costs are rising at an explosive pace, and risk is high. Employees are spread out across the country, and trying to meet everyone’s healthcare needs in a consistent, high-quality and affordable way is nearly impossible,” said Caitlin Flemming, Transcarent’s chief strategy officer.
At the same time, employers’ benefits teams are trying to fill care gaps with point solutions and benefits aggregators. But these tools typically see low utilization and aren’t doing a great job of improving long-term care outcomes, Flemming added.
Transcarent’s new provider network offers the benefit of coordinated care, with transparent costs at name-brand brick and mortar locations across the country, she declared.
“The health systems have agreed to provide enhanced access to their high-quality care to Transcarent members, under a directly contracted model that allows cost transparency and predictability for both the member and their employer,” Flemming said. “Local health systems can serve as the regional anchor for member’s needs, with aligned financial incentives through Transcarent’s direct contracting platform to deliver quality health outcomes at an appropriate cost while maintaining a sustainable business model.”
Health systems can stay in contact with the Transcarent members they care for, even when they seek care through virtual point solutions or other providers in the community — this helps health systems gain greater insight into patients’ care plan adherence, overall health and total costs, Flemming pointed out.
When selecting the 10 health systems included in its new network, Transcarent wanted to cover a wide range of the country.
“These are well-established health systems, with strong reputations in their regions, and a history of providing high-quality and high-value care across a broad range of health needs and medical specialties,” Flemming declared.
She said that Transcarent plans to add to this network over time.
The new provider network is one of several announcements Transcarent has made in the past 12 months to grow its business, which was last valued at $1.62 billion in 2022.
For instance, the startup launched a pharmacy benefit service last September, announced plans to acquire part of digital health company 98point6 for $100 million in March, and partnered with musculoskeletal company ViewFi in June to create an orthopedic consult solution for Transcarent’s platform.
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