Blue Cross and Blue Shield of North Carolina is launching a new program to help independent primary care practices stay open and adopt value-based care as the coronavirus pandemic stretches their finances.
Through the new Accelerate to Value initiative, Blue Cross NC will provide financial resources to help these practices stabilize their business, beginning in September. In exchange, the practices will commit to joining the insurer's Blue Premier value-based care program by the end of the year.
In Blue Premier, providers and Blue Cross NC are jointly accountable for quality and cost of care. The state's largest health systems, including Atrium Health, UNC Health Care and Wake Forest Baptist Health, have signed on to the program already since its launch in January 2019.
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Then, beginning in 2022, Blue Cross NC will offer capitated payments to the participating practices, which would provide fixed monthly payments when they address the health needs of their entire patient population.
Blue Cross NC executives noted that the COVID-19 pandemic has put significant financial strain on primary care practices, making the new program even more urgent.
“Primary care providers across North Carolina are in a financial crisis. We have a duty and a desire to act,” said Rahul Rajkumar, M.D., Blue Cross NC senior vice president and chief medical officer, in a statement. “We’re here for primary care providers. Accelerate to Value will help them stay in business and improve their ability to provide the highest quality care to Blue Cross NC members and all of their patients.”
The program is available to all independently owned practices in the state with the application window beginning this week, Blue Cross NC officials said.