Cornerstone Health Care, a 210-physician independent multispecialty practice in High Point, N.C., has announced that it will transition from the traditional fee-for-service model to a value- and population-based system involving close monitoring of patients who have chronic diseases, according to a Cornerstone news release (PDF).
Cornerstone to shift to value-based system, hire 135
The release also noted that Cornerstone is investing more than $25 million to advance this transition and will add to its 1,500-person workforce with 135 new hires. The group will hire more midlevel providers to help manage the care of patients with chronic disease. Clinical informaticists will make up half of the new hires, according to the release; they will be tasked with tracking patient care and analyzing whether quality metrics are being met.
Cornerstone has been using a electronic health-record system since 2005, and in this year's Modern Healthcare/Modern Physician Survey of Executive Opinions on Key Information Technology issues, group President and CEO Dr. Grace Terrell said it was "highly likely" Cornerstone would meet all of the federal government's benchmarks of meaningful use of health information technology.
"Our objective is to increase accountability, patient access and quality of care while eliminating waste and decreasing costs," Terrell said in the release.
Terrell, who serves on the Certification Commission for Health Information Technology board of commissioners, added that Cornerstone will strengthen its collaboration with the 10 hospitals in the region where the group's physicians have privileges. Cornerstone is also meeting with insurance companies to be part of the shift to performance-based contracting.
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