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EXTRA CREDIT
Value-Based Care Partnerships
TCO Reports Significant Reduction in Opioid Pain Medication Prescriptions. Twin Cities Orthopedics surveyed and tracked 3,000 patients’ prescriptions counts, satisfaction levels, and disposal habits of unused pain medications to develop findings to reduce opioid reliance following an orthopedic procedure. 2020 Chronic Care Action Index. In partnership with YouGov, MOBE commissioned a study to ask consumers and healthcare providers across the country what’s standing in their way when it comes to improved outcomes and what factors would put them on the road to better health. Telehealth Company Amwell Spikes in Public Debut with Outsized $742M IPO. Telehealth provider Amwell went public during the pandemic and saw a stock spike of 42% on the first day of trading. Pivot Podcast: Tesla’s “Battery Day,” the DOJ prepares for Google, and Scott’s prediction on “algorithmic e-commerce.” Pivot Podcast co-host Scott Galloway predicts Walmart and TikTok could introduce a new field called “algorithmic commerce,” which goes from one- click shopping to zero-click shopping. Healthcare could similarly preempt patient needs.
We see several unique partnerships, surprising alliances, and new methods of operation across the healthcare industry.
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Closing Thoughts Cost of care is a longstanding conversation in the healthcare industry. Despite all the downsides of COVID, it has positively impacted transparency in cost of care, increased the pace of change in healthcare, and accelerated consumer interest in telehealth and basic public health measures. We hope the pandemic will continue to encourage people to refocus on their health, educate themselves, and sustain healthier lifestyles to reduce care costs in the future. Prospective bundles are an increasingly popular method to provide up-front, transparent pricing that details the total cost of care. This year, Twin Cities Orthopedics will perform almost 2,000 prospective bundles in the total joint and spine space, equating to a savings of $20M – $25M in the market. As an industry, healthcare has only scratched the surface of value-based care. Most healthcare financing is still fee- for-service, but innovative models are developing that use a combination of value-based benefit design while ensuring a high- quality experience. Balancing patient data outcomes and experience while managing cost is what defines value-based care. The goal is to change care delivery to be more competitive.
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36 | Relevant Health Roundtable
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