SAN MATEO, Calif.--(BUSINESS WIRE)--Carrum Health has been named recipient of the “People’s Choice Award” in the 2016 Vator Splash Health competition. The nationally known event brings together the best and brightest minds around digital healthcare innovation, looking for creative ways to positively impact the changing healthcare marketplace in the 21st century.
More than 50 of the nation’s most innovative healthcare companies participated in the competition. Carrum and five other finalists were invited to make presentations to the more than 150 investors, start-up CEOs and other interested parties who attended the Silicon Valley event. Carrum Health’s innovative solution to change the way healthcare is modeled, purchased and delivered was voted “best” by participants.
“Splash is one of the most respected start-up competitions and educational events in the country, attracting exceptionally smart thought leaders from the tech and healthcare industries,” said Sachin Jain, Carrum’s chief executive officer. “We were excited and inspired to be part of the event and are deeply honored that we were singled out for excellence from among such great companies.”
Carrum Health was founded in 2014 with a mission to “match human need with medical excellence” through a model that is mutually beneficial for providers, employers and their employees. Carrum achieves this by connecting thoughtful and progressive self-insured employers with local and national Center of Excellence providers under bundled payment arrangements. Doing so aligns provider incentives with quality performance, resulting in dramatic improvement in both the patient experience and care outcomes.
“There is an overriding need for profound change in our nation’s healthcare system,” says Jain. “The fee-for-service model is antiquated, and we need to move instead to a value-based reimbursement arrangement with bundled payments at its core.”
Bundled payment programs group together the multiple services associated with a certain health “episode,” condition or procedure – such as knee/hip replacement, spinal fusion or coronary bypass – and provide those services for one, all-encompassing and pre-negotiated payment arrangement that includes both financial and performance accountability. As one of the early pioneers in the space, Carrum Health brings a scalable solution to the commercial health insurance market that rapidly delivers benefits from value-based reimbursement to all stakeholders.
“Through Carrum, everyone wins,” says Jain. “Employers receive significant financial savings and cost predictability. Employees receive better outcomes and a vastly enhanced patient experience. And providers receive access to a new distribution channel with one-stop access to incremental volume and immediate bundled payments.”
More information is available at carrumhealth.com.