Providence St. Joseph Health (PSJH), the nation’s third-largest nonprofit health system, has created a for-profit population health management company.
The $23 billion health system said Portland-based Ayin Health Solutions would equip payers, providers, employers and government entities with the expertise and services they need to reduce costs, improve care and keep pace with the healthcare industry’s transition to population health. Its suite of capabilities includes a pharmacy benefits management service that partners pharmacists and physicians throughout the care continuum; a proprietary risk evaluation tool and comprehensive reporting to help manage healthcare costs and improve patient outcomes; and an employee health benefits service that tailors benefits programs to an organization’s needs.
Ayin will operate as a subsidiary of Providence Plan Partners services and technology to clients within and external to Renton, Wash.-based Providence St. Joseph Health. On its web site, Ayin said that operating as a for-profit gives it the flexibility to acquire new capabilities, technologies, capital and strategic partnerships. “Ayin will also serve as a growth vehicle for PSJH, as it will eliminate financial limitations and allow us to diversify our revenue,” the website adds.
“These are tumultuous times for the healthcare industry and organizations are eager for proven strategies and solutions that will stabilize their business and guide their shift toward a new standard of care,” says Rhonda Medows, M.D., CEO of Ayin and president of population health at Providence St. Joseph Health, in a statement. “We know that when health organizations are able to achieve clinical and financial success, they are better able to influence and care for the communities they serve.”
Medows also serves as a member of the Physician-Focused Payment Model Technical Advisory Committee to make recommendations to the U.S. Secretary of Health and Human Services on current and future physician payment models. Prior to joining Providence, she served as executive vice president and chief medical officer of UnitedHealth Group.