Physician group, MSO reduce medical plan costs for 1,500-plus staff for 3rd straight year

Infinite Health Collaborative, or i-Health, a group of physician-owned practices in the Twin Cities area of Minnesota, and Revo Health, which provides business support to i-Health and other practices, have decreased employee medical plan costs year over year since 2018.

A self-funded healthcare plan shared by the two organizations covers their combined 1,500-plus employees. Costs on a per-employee, per-month basis decreased 12 percent from 2018 to 2021 while access to quality care options increased, the companies said in a Jan. 18 news release.

Revo and i-Health's healthcare options for employees include a copay plan, high-deductible health savings account-qualified plan, and a high-value plan. Enrollment in the high-value plan has increased each year since its inception, with more than 40 percent of employees selecting that option.

Plan design, a high-value network, staff education and innovative sites of service are the keys to the plan's success, according to Michael Spencer, MD, an i-Health board member and physician with Minneapolis-based Colon and Rectal Surgery Associates.

"Our employees have seen their healthcare benefits improve while maintaining flat premium contributions, without compromising care, which is pretty much unheard of," Dr. Spencer said. "As physicians, we strive to provide clinical excellence for each and every patient we treat. It's reassuring to see that a diverse group of independent practices focused on quality care can also provide value for patients, payers and employers alike."

Golden Valley, Minn.-based Twin Cities Orthopedics, a division of i-Health, was an early adopter of the self-funded model. In 2010, the group shifted from a fully insured plan and partnered with local third-party administrator HealthEZ to design their current model.

Since the switch, the 100-plus physician practice realized significant savings each year, which is a key reason why i-Health and Revo implemented the model for their organizations, according to the news release.

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Webinars

Featured Whitepapers