Cone Health is second provider to join Risant Health
Cone Health will maintain its independence while gaining a financial model, resources and technology services.
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Cone Health is the second provider to become part of Kaiser Foundation Hospitals' Risant Health.
The organizations have signed a definitive agreement under which Cone Health of North Carolina will become part of Risant Health's value-based model, pending regulatory approvals.
Cone Health will maintain its brand, name and mission, and maintain its own board, CEO and leadership team. It will continue to work with health plans, provider organizations and independent physicians.
"Cone Health customers will see the same doctors, the same nurses and the same staff in the same locations they do today. We do not anticipate changes in the types of care we provide as a result of becoming part of Risant Health," said Cone Health president and CEO, Dr. Mary Jo Cagle.
WHY THIS MATTERS
Geisinger was the first health system to join Risant Health after Kaiser formed Risant last year.
As other health systems that become part of Risant, Cone Health will operate independently as a regional and community-based health system.
It will gain the expertise, resources and support of Risant Health's value-based platform. It will benefit from a healthcare delivery and financing model that improves health, increases access to affordable care and has aligned incentives, Risant said. The value-based platform will support its health systems with a set of technology services.
THE LARGER TREND
Risant Health was created by Kaiser Foundation Hospitals in 2023. It is a nonprofit, charitable organization headquartered in Washington, D.C., with a mission to increase access to value-based care and coverage.
Founded in 1953, Cone Health is a not-for-profit healthcare network serving more than a half a million people in the Piedmont Triad of North Carolina. The health system includes a network of four acute care hospitals, a behavioral health facility, an accountable care organization and a health plan.
ON THE RECORD
"Cone Health's impressive work for decades in moving value-based care forward aligns so well with Risant Health's vision for the future of healthcare," said Risant Health CEO, Dr. Jaewon Ryu.
"Becoming part of Risant Health presents a unique opportunity to shape the future of healthcare in the Triad, the state, and across the nation," said Cagle. "As part of Risant Health, Cone Health will build upon its long track record of success making evidence-based healthcare more accessible and affordable for more people."
Greg Adams, chair of the Risant Health board of directors and chair and CEO of Kaiser Foundation Health Plan and Hospitals said, "Risant Health refuses to accept that fragmented, episodic, fee-for-service care should define the future of healthcare. Risant Health has put a stake in the ground that care focused on evidence, equity, population health and improved outcomes must be the future of healthcare."
Email the writer: SMorse@himss.org
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