Providence St. Joseph Health has launched a new population health company, Ayin Health Solutions.
WHY IT MATTERS
PSJH said the new venture will aim to help organizations “maintain stability in a shifting healthcare market,” and it will do so by offering services that can help organizations keep costs down, improve care and ease into population health management. Headquartered in Portland, Oregon, Ayin’s offerings will include a pharmacy benefits management service, risk evaluation tools, comprehensive reporting and employee health benefits service.
Value-based competition is getting tougher, and providers are looking for a competitive edge that calls for more customized population health management programs, according to a new study by Frost & Sullivan. Traditional PHM solutions that focus on high-cost patient populations are giving way to more holistic and evidence-based approaches that cover both high-risk and at-risk patients. Providers want to focus on preventive care and target patients as consumers.
Many population health technologies are evolving to provide a more granular understanding of a patients' social determinants, giving providers greater insight into how to approach care, according to Matt Hawkins, CEO of Waystar, a cloud-based revenue cycle management company.
ON THE RECORD
“These are tumultuous times for the healthcare industry and organizations are eager for proven strategies and solutions that will stabilize their business and guide their shift toward a new standard of care,” said Dr. Rhonda Medows, CEO of Ayin Health Solutions and president of Population Health at Providence St. Joseph Health.
Diana Manos is a Washington, D.C.-area freelance writer specializing in healthcare, wellness and technology.