SAN FRANCISCO, July 28, 2021 /PRNewswire/ -- Carrum Health today announced a strategic agreement with Vizient, Inc., the nation's largest healthcare performance improvement company. The agreement is expected to rapidly expand access to high-quality, affordable care for self-insured employers and their employees.
Employers using Carrum Health will now have greater access to quality care through high-value providers affiliated with Vizient member healthcare systems, which includes more than half of the nation's hospitals including 97% of academic medical centers. The agreement enables Carrum Health to dramatically accelerate expansion of its regionalized Center of Excellence (COE) marketplace and more efficiently apply its quality analysis to evaluate potential COEs to join the Carrum Health platform.
"As a long-standing Carrum Health partner, we value the benefits Carrum brings to our Associates' healthcare plans," said Joe Toniolo, senior director of health and welfare plans at US Foods. "Carrum continuously seeks to deliver the most innovative and high-quality programs and we are looking forward to the next evolution of their offerings made possible through their strategic partnership with Vizient."
Carrum Health will leverage Vizient's industry-leading analytics to provide value-based insights regarding high-quality, affordable care for self-insured employers.
"Vizient shares Carrum Health's commitment to the delivery of appropriate, high-quality care. Carrum's COE solution manages costs for employers and employees and incentivizes participation by healthcare providers as more employers buy into the marketplace approach," said Jeff Hayes, Executive Director of Vizient's Direct to Employer Solutions. "We chose Carrum Health for their approach to working with providers and because they have an established track record in this fast-growing market."
Carrum Health developed the first digital marketplace that guides patients to the top providers for common, costly procedures such as joint replacement, spinal and bariatric surgery and cancer care. Providers deliver these services for a single, transparent, bundled cost. This approach improves health outcomes for patients and can reduce employers' contributions to employee healthcare by more than 45%, according to a recent RAND report. With a strong focus on clinical quality, Carrum Health evaluates both the COE and the surgeon with a proprietary 50-point evaluation process, ensuring only the top 10% of providers are invited to join the platform.
Last year self-insured employers raced to Carrum Health to reduce their ever-rising healthcare costs. That momentum, fueled by a $40 millionSeries A funding led by Tiger Global in January, set the company into hyper-growth mode last quarter.
"The pandemic had a profound impact on how our nation delivers, consumes and pays for healthcare. At Carrum Health, we have proven that high-quality care can be delivered at an affordable price for employers and their employees," said Sach Jain, CEO of Carrum Health. "Through this agreement with Vizient, we're expanding our national COE footprint. This will enable us to connect more patients with top quality care nearby and customize COE networks for all sizes of employers."
About Carrum Health Carrum Health was founded in 2014 with a mission to "bring common sense to healthcare" through a value-based healthcare model that benefits families, employers and providers. Headquartered in South San Francisco, Carrum's award-winning surgery benefits platform connects self-insured employers with top providers under standardized bundled payment arrangements to better manage healthcare costs. By aligning provider incentives with quality performance, Carrum drives improvements in patient experience and health outcomes. Customers include large Fortune 500 companies and public sector organizations. For more information, visit carrumhealth.com.
About Vizient, Inc. Vizient, Inc. provides solutions and services that improve the delivery of high-value care by aligning cost, quality and market performance for more than 50% of the nation's acute care providers, which includes 97% of the nation's academic medical centers, and more than 20% of ambulatory care providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $110 billion in annual member purchasing volume, to improve patient outcomes and lower costs. In 2021, Vizient acquired Intalere, which expanded its footprint with ambulatory and rural acute care providers. Vizient has earned a World's Most Ethical Company designation from the Ethisphere Institute every year since its inception. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.