Aetna has partnered with Northern Virginia's Inova Health System to create the perfect win-win solution to providing and paying for healthcare services in the region, at least according to officials from both companies.
The insurer and provider have created Innovation Health Plans, a jointly owned health plan that encourages doctors to provide high-quality, low-cost healthcare through financial incentives. It also will reward companies that offer the health plan rebates if healthcare costs are less than expected, according to The Washington Post.
"Both Inova and Aetna believe that shared accountability translates into a powerful new value proposition for consumers," Aetna CEO Mark Bertolini said in a Friday statement. "This joint venture with the region's largest health system signals a new level of Aetna's commitment to payment reform and stronger provider collaboration."
Members with Innovation Health Plans, however, only have access to a narrow network that includes Inova's hospital system and certain affiliated doctors. The participating doctors' salaries would be connected to their compliance with best practice standards, patient reviews and their ability to see patients in the evenings and on weekends.
Inova CEO Knox Singleton said the narrow network actually would help improve outcomes and reduce costs because all the providers would be treating patients with best-known practices. "There will be a profit center for the health plan, for the delivery network and for each of the individual participants," he told the Post. "If we get our healthcare costs down, there's a financial reward for everyone involved."
Aetna will provide the technology necessary for Inova doctors to exchange health information, allowing them to track their patients' care across all settings, reported Insurance & Financial Advisor.