Cigna (NYSE:CI) and Summit Medical Group, New Jersey's largest physician-owned multispecialty practice, today announced a collaborative accountable care program to achieve the “triple aim” of improved health outcomes (quality), lower total medical costs and increased patient satisfaction.
The joint program, which took effect December 1, benefits approximately 10,000 individuals covered by a Cigna health plan who receive care from more than 300 Summit Medical Group providers. Summit Medical Group treats patients at its 42-acre main campus in Berkeley Heights as well as at 20 area satellites in Berkeley Heights, Bayonne, Morristown, Millburn, Short Hills, Springfield, New Providence, Warren, Westfield and West Orange.
“Summit Medical Group has long embraced the coordinated care model as the best way to deliver quality care and patient satisfaction,” said Jeffrey Le Benger, chairman and chief executive officer. “Our emphasis on preventive care and collaboration makes Cigna a natural partner for us as we work together to improve the patient experience and enhance the health care delivery system.”
Through its electronic health record, Summit Medical Group doctors monitor and coordinate all aspects of an individual’s medical care. In this arrangement with Cigna, patients will continue to go to their current SMG physician and automatically receive the benefits of the program. There also are no changes in any plan requirements regarding referrals to specialists. While all patients will benefit from this initiative, patients most likely to see the immediate benefits of the program are those who need help managing chronic conditions, such as diabetes or heart disease.“The only sustainable way to control rising medical costs is to improve health,” said Charlie Catalano, president and general manager for Cigna in New Jersey. “Helping people reduce their health risks, preventing health problems before they happen, stopping disease before it progresses and helping to ensure the right care, at the right time, in the right place are all at the heart of our collaboration with Summit Medical Group.” Cigna's collaborative accountable care programs work to accomplish the same population health goals as accountable care organizations, or ACOs:
- Improved access to care
- Increased emphasis on preventive care
- Greater care coordination and patient engagement
- Better management of chronic illness (or chronic diseases)
- Lower hospital readmissions
- Reduced health care costs through alignment of payment with improved outcomes, quality and value.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV