In a move to help fellow health care organizations improve clinical outcomes, simplify patient access to information, lower costs and meet payer and business requirements, Providence St. Joseph Health has launched Ayin Health Solutions, a for-profit population health management company.
Rhonda Medows, M.D., CEO, of the new venture and president of population health at PSJH, says Ayin will offer its suite of capabilities to external payers, providers, employers and government entities. The capabilities, among others, include:
- A pharmacy benefits-management service that partners pharmacists and physicians throughout the care continuum to better manage costs without compromising care.
- A proprietary risk-evaluation tool and comprehensive reporting to help manage health care costs and improve patient outcomes.
- An employee health-benefits service that tailors benefits programs to an organization’s needs, helping to save costs, improve wellness and reduce absenteeism.
“With Ayin, we have a tremendous opportunity to take our knowledge and value-based care proficiencies and extend that expertise to payers and organizations outside the PSJH system,” Medows says. “We will leverage our leadership, day-to-day front-line expertise and heritage of service to deliver population-health solutions and services that will deliver real impact.”
The launch is also noteworthy as it illustrates one of the ways hospitals are looking to develop new business models and revenue streams beyond patient care.