Evolent Health president shares insights on providers launching insurance products
If hospitals launching health plans strikes some as a sign of traditional health insurance’s coming extinction, the business model so many American hospitals were built upon – fee-for-service – is declining too. Integrated healthcare and shared savings contracts between payers and providers are going to become the norm.
That’s the consensus of Evolent Health, the consulting firm behind the Piedmont-Wellstar collaboration and other health system redesigns, and a project of The Advisory Board Company, a publicly-traded consulting and investment firm based in Washington, D.C.
Based in Arlington, Va., Evolent Health calls itself a population health management services organization, offering clinical operations and software solutions to health systems with the market potential for larger integrated care, accountable care arrangements or their own health plans.
As the rest of the country was mired in the debate over the Affordable Care Act in 2009, Evolent Health grew out of The Advisory Board Company’s assessment of American health system models and its bid to remake the provider business an effort led, in part, by Seth Blackley, who worked on the 2006 buyout of the Hospital Corporation of America while he was at Bain Capital.
Evolent is backed by both The Advisory Board Company and the University of Pittsburgh Medical Center (UPMC).
In an interview with Healthcare Payer News (a sister publication of Healthcare Finance News), Blackley, Evolent Health president, talked about the changing business models for healthcare and insurance, population health and the focus on explicitly aligned incentives for providers, payers and patients.
Q: How did Evolent Health get started?