What could it mean for you?
CVS agreed to an $8 billion deal to buy Signify Health last week as part of its plan to manage more value-based care across the country. This merger will make CVS an outpatient provider in all fifty states. The goal is to close the gap between diagnosis and treatment, ultimately leading to lower costs to both patients and payors. The focus will be on more healthcare access, in-home medical care, and more coverage options.
In-home assessments are key to Signify Health’s approach because they allow healthcare workers to address social and environmental issues that might affect a person’s health and well-being. Issues, such as food insecurity, isolation, or abuse, are normally difficult to identify in a traditional healthcare setting. In-home visits provide opportunities for more insight into these factors. In addition, Signify providers spend 2.5 times longer with patients at home than in a typical primary care setting.
The hope is that no beneficiary gets “left behind” and no patient falls through the cracks. For example, diabetes patients could save money on long-term healthcare costs with home visits. They would learn how to manage their needs more effectively in their everyday home environment. With in-home access to patients, CVS pharmacies can also help support medication needs more effectively.
Today, insurers are focused on primary care that is proactive, preventative, and comprehensive. Because of shortages of healthcare workers and clinicians, companies are looking at remote and home care models to respond to the demands. Technology and analytics would be used to match clinicians with patients these visits to provide interventions and manage chronic conditions.
With this merger, up to 10,000 more clinicians would be available across 50 states and 50 health plans for potential coverage. The hope is that making more providers available and keeping patients at home will result in better healthcare with lower costs for patients, payors, and of course, CVS.
Very informative- thanks for sharing.