Carrum Health Receives National Recognition from Harvard’s Forum on Health Care Innovation and NBGH
November 13, 2017
PRESS RELEASE PR Newswire
Nov. 13, 2017, 08:05 AM
SAN FRANCISCO, Nov. 13, 2017 /PRNewswire/ — Carrum Health, the first comprehensive bundled payment platform for employers, gained national recognition this month for its unique value-based care solution that connects self-insured employers to top-quality providers and reimagines how surgical procedures are paid for and delivered. Carrum Health was named the winner of the 2017 Health Acceleration Challenge by the Forum on Health Care Innovation, a collaboration between Harvard Business School (HBS) and Harvard Medical School (HMS), and was awarded $50,000. Carrum Health was declared the winner because of its solution’s impact on cost and quality, scalability of the model and actual evidence of value delivered.
In addition, Carrum was one of only a handful of companies selected to present to the board of the National Business Group on Health (NBGH) Health Innovations Forum (HIF). Each year, the forum identifies and evaluates technology and solutions-based startups with the potential to improve employee health and the efficiency, delivery or consumer experience within the healthcare system.
“Carrum Health is at the forefront of fundamental changes to the healthcare benefits market, enabling employers to shift to value-based care through its next-generation Centers of Excellence (COE) solution, ensuring their employees receive the care they deserve,” said Sach Jain, CEO of Carrum Health. “We are honored to have the Carrum’s COE solution showcased by these prestigious organizations. These recognitions highlight the fundamental changes we are spearheading in the healthcare industry to systematically shift the healthcare payment model to bundled payments.”
With a goal of improving the healthcare experience and outcomes of patients, while reducing the cost burden for both employers and their employees, Carrum Health connects self-insured employers to top-quality regional healthcare providers through standard bundled payment arrangements. The solution also plays a key role in enabling top-quality provider systems pursuing value-based care initiatives to establish themselves as COEs and gain market share.
“Carrum Health’s innovation addresses a critical healthcare problem, which is the fee-for-service payment model,” said Robert S. Huckman, the Albert J. Weatherhead III Professor of Business Administration at Harvard Business School. “We expect that Carrum Health’s approach to broadening and simplifying access to bundled payments will play a key role in managing costs, while improving quality, in health care.”
The HBS-HMS Health Acceleration Challenge is a scale-up competition for compelling, already-implemented healthcare solutions, which helps selected companies grow and increase their impact through powerful networking and funding opportunities. Since 2014, the Health Acceleration Challenge has received more than 600 applications from 29 countries, which are judged by 24 clinicians, healthcare professionals and academics specializing in healthcare and innovation on the three Challenge criteria: impact, evidence and dissemination. Carrum Health was announced as the Challenge winner on November 8 at a reception on the Harvard Business School campus.
Then, on November 9, Carrum Health presented at the NBGH HIF. This event provides a venue through which startups can be assessed and selected for pilot programs by HR and benefits executives from several of the world’s largest companies, including AT&T, US Foods, Bank of America, Facebook, PepsiCo, Boeing, Intel, General Mills, Intel, Paychex Inc. and dozens of others who comprise the HIF Board and Employer Council.
About Carrum Health
Carrum Health was founded in 2014 with a mission to “bring common sense to healthcare” through a model that is mutually beneficial for providers, employers and their employees. Through Carrum, thoughtful and progressive self-insured employers are connected with regional Center of Excellence providers under bundled payment arrangements. By aligning provider incentives with quality performance, Carrum is driving dramatic improvement in both the patient experience and care outcomes. Both employers and their employees achieve significant cost savings, while top doctors and hospitals recognize increased volume and new revenue streams. For more information, visit carrumhealth.com.