On April 25, Blue Cross Blue Shield of Michigan (BCBSM) announced via a press release a new joint venture with Nashville-based Honest Medical Group to offer physicians operational, clinical, and financial support for shared accountability Medicare contracts. This venture is the first of its kind for BCBSM and coincides with the organization’s Blueprint for Affordability—its member-focused, value-based care and payment models.
The release states that “Physician organizations can choose to work with Honest Medical Group for support in making administrative and operational changes needed to be successful in full financial-accountability Traditional Medicare and Medicare Advantage agreements with payers. When providers choose to enter these agreements, they often need significant resources to add or upgrade electronic medical record systems, billing systems, virtual care and other practice capabilities. Honest can provide financial and human resources to assist practices in this transformation.”
Further, “Honest Medical Group was created specifically to improve the care experience and reduce costs for people with Medicare. The new partnership will transform the way care is delivered for a physician’s whole Medicare patient panel, permitting physicians to use Honest Medical Group for its Traditional Medicare and Medicare Advantage members in any health plan. The partnership enables physicians to be successful as Blue Cross and other private and government health plans accelerate the transition to more comprehensive value-based payment models that add a deeper level of shared financial accountability among physician practices.”
Adam Boehler, executive chairman and co-founder of Honest Medical Group was quoted in the release saying that “This is just the beginning of a long-term partnership that we know will serve as a new model for health care companies and health plans across the country. The excitement around Honest and BCBSM stems from our belief that we can revolutionize care for people who need it most.”
Blue Cross is the largest health insurers in Michigan and is working to lead change in developing and enabling value-based care arrangements in the state. Additionally, the organization focuses on physician success in these arrangements.
