To increase its value-based most cancers care mannequin nationwide, Thyme Care has obtained funding assist from Echo Well being Ventures, a strategic funding platform investing on behalf of a number of Blues well being plans, and CVS Well being Ventures, the enterprise arm of CVS Well being.
Nashville-based Thyme Care describes its enterprise mannequin as difficult the standard fee-for-service panorama by empowering oncologists as brokers of change inside novel cost fashions, permitting them to give attention to delivering high-quality care within the clinic, whereas Thyme Care’s oncology-trained Care Group manages sufferers’ wants between visits.
By means of its payer agreements, the corporate embeds its patient-centered care assets straight inside oncology practices, together with 24/7 navigation companies, operational and actuarial assist, and reporting capabilities to precisely measure affect in these new fashions.
Thyme Care mentioned its strategy is enabling extra payers and suppliers to take part in value-based preparations and various cost fashions resembling CMS’ Enhancing Oncology Mannequin.
“By means of our ongoing work at CVS Well being Ventures, we have pinpointed a essential want to search out organizations who can empower healthcare suppliers, with out creating abrasion to their present efforts, whereas successfully decreasing prices and offering high-value affected person care,” mentioned Alyssa Reisner, CVS Well being Ventures. “Thyme Care’s provider-driven strategy is a strong catalyst in enabling oncologists to navigate the shift to various cost fashions, fostering affected person belief and elevating the position of the supplier whereas driving important value financial savings all through the care continuum. We’re devoted to supporting Thyme Care’s progress by lending our strategic experience as the corporate expands nationally.”
“The funding from Echo and CVS is a milestone second for Thyme Care pushed by our dedication to working with companions devoted to rethinking how we ship and pay for most cancers care,” mentioned Brad Deiphuis, M.D., M.B.A., chief operations officer and president at Thyme Care and former advisor to the Middle for Medicare and Medicaid Innovation (CMMI), in an announcement. “We’re thrilled to welcome them to the staff, and we look ahead to leveraging their deep business insights.”
In March, the corporate introduced that greater than 400 oncology practices had joined Thyme Care Oncology Companions (TCOP). Thyme Care mentioned it might companion with TCOP practices to design and implement value-based care applications for sufferers coated by collaborating risk-bearing entities and government-sponsored applications.
To assist Thyme Care’s rising TCOP partnerships, Mark Lombardi joined the corporate as senior vp, supplier partnerships. He beforehand labored at GE Healthcare Monetary Companies, the place he managed supplier relationships and led observe transformation for the healthcare-dedicated international monetary companies agency.
Earlier in Could, Thyme Care introduced it had employed Julia Frydman, M.D., as the corporate’s first medical director for palliative care. She’s going to launch the corporate’s Enhanced Supportive Care companies. This digital palliative care program will assist eligible members and their caregivers handle bodily and psychological signs and supply an extra layer of assist as they navigate dwelling with most cancers.
In July 2023, Healthcare Innovation spoke with Bobby Inexperienced, M.D., Thyme Care’s co-founder and chief medical officer, who described constructing a technology-enabled navigation platform, for each clinicians and non-clinicians, to do digital navigation on a software program and analytics platform. “We companion with well being plans, which see the worth on this and are keen to pay for it. We are going to take some extent of threat on the price of care of the populations that we’re managing. And once we companion with a well being plan and go right into a geographic space, we additionally companion with oncology practices which are according to the imaginative and prescient of doing this.”
