Cambia Health invests in consumer-focused healthcare
Looking to create a more economically stable and person-centered healthcare system, Cambia Health, which includes Regence Blue Cross Blue Shield, is setting its sights on new investments to make this transformation happen.
"There's no shortage of mega-trends impacting the insurance business. Some are making Regence health plans as well as every other plan think differently about their business model," SVP of Strategic Investment and Corporate Development Rob Coppedge (pictured) told FierceHealthPayer in an exclusive interview at this year's AHIP Institute in Seattle.
The various mega-trends include price transparency, value-based care and private exchanges, to name a few. But Cambia is most interested in the trend driving consumers to have a much more empowered role in their healthcare.
"There's a dearth of solutions to manage that new accountability," Coppedge said. Healthcare organizations must help consumers deal with the increasing financial responsibility as well as the need to self-manage their care.
So instead of putting resources toward the procurement process of health plans, Cambia is focusing on transformative businesses that will better align the system with the needs of consumers. That approach is leading to what Coppedge called the health plan 2.0, an evolving model that addresses the needs of the individual, not the institution.
To thrive as a health plan 2.0, Coppedge highlighted three important issues:
1. How to become more retail-oriented--providing consumer-facing tools and enhanced transparency
2. How to enable the switch from volume to value--finding ways the provider can deliver value no matter who's paying
3. How to support caregivers and seniors--offering technology-enabled services that help seniors age in place longer and support the caregivers taking care of them
Cambia has been addressing these issues on its journey to consumer-focused healthcare for some time, but knows it won't succeed alone. "The opportunity for plans and other healthcare stakeholders to partner together is bigger than ever, although it's not always in the DNA of the health plan to do that," Coppedge said.
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