COMS Interactive Selects Remedy Partners Partnership to Offer Exclusive CMS-Sponsored Bundling Payment Program
CLEVELAND, April 16, 2014 /PRNewswire/ -- COMS Interactive, LLC (Clinical Outcomes Management Systems or COMS) is partnering with Remedy Partners, Inc. (Remedy) to provide Skilled Nursing Facilities the opportunity to participate in an exclusive value-based program. The purpose of the Bundled Payment for Care Improvement (BPCI) program is to allow customers and partners to share in the cost savings derived from reductions in nursing home costs, readmissions and duplicative testing and services.
The Centers for Medicare and Medicaid Services (CMS) granted a general contractor status to Remedy Partners, which is the largest Awardee Convener in the CMS-sponsored program. Remedy launched more than 20 Hospitals in the 2013 program and has received in excess of 1,000 Letters of Intent from Skilled Nursing facilities in 50 states for participation in the current program. Participants include Hospitals, Physicians, Skilled Nursing Facilities, Rehabilitation Centers, and Home Health Care partners.
"Participation in the BPCI program represents additional revenue opportunities for COMS customers and partners, and the Remedy team are experts at crafting clinical and financial packages," commented Edward J. Tromczynski, Chief Executive Officer, COMS Interactive. "The program offers a complete solution for continuum of care providers to participate and thrive as part of an innovative bundled payment arrangement."
To secure the opportunity to launch a bundled payment program, Skilled Nursing Facilities are required to sign a standard non-binding Letter of Intent by April 18, 2014. Notably, there is no requirement or commitment to enter the program until the applicant has had an opportunity to fully evaluate the data and properly assess the potential value of participation. If an organization chooses to join the BPCI program, the initiative will officially begin on January 1, 2015.
"COMS customers have already made significant improvements in clinical and financial outcomes by deploying the Daylight IQ™ Disease Management Product Suite," noted Gene Huang, Vice President, Business Development, and Remedy Partners. "The program is a comprehensive effort by CMS to transition the current Medicare Fee for Service program into a value-based system".
About COMS Interactive, LLC
COMS Interactive, LLC partners with thirteen state health care associations in deploying processes and systems that stabilize and improve resident health while improving financial outcomes for Skilled Nursing facilities. The Daylight IQ™ Software as a Service (SaaS) product combines business administration, disease management and long-term healthcare knowledge to empower the nursing team, streamline the process, more efficiently address resident healthcare needs and increase facility revenues. This combination of clinical and technical processes can save millions of dollars a year in preventable hospital readmissions. Additional information regarding COMS Interactive and Daylight IQ™ is available at www.comsllc.com or at 330.650.9900.
About Remedy Partners
Based in Darien, Connecticut and founded in 2011, Remedy Partners develops and manages patient-centric episode payment programs for employers, commercial health insurers, and government payers. Episode payment programs, also referred to as bundled payment by Medicare, represent an important advance in the organization and financing of health care services. They are a key component in the market transformation to value-based reimbursement and include economic incentives for care coordination among health care providers leading to lower costs, higher quality of care and increased patient satisfaction. To learn more about the BPCI program and Remedy Partners, we invite you to visit the Remedy website, www.remedypartnersinc.com or contact Remedy at 855.395.6171.
SOURCE COMS Interactive, LLC