Intermountain Healthcare has entered into a strategic collaboration with a venture capital firm and its companies to improve care and reduce costs across its health system.
Through the collaboration, Intermountain Healthcare and General Catalyst will leverage the Health Assurance Network, a group of companies within the General Catalyst investment portfolio. Intermountain and General Catalyst will explore opportunities within the Intermountain system and health care in general to accelerate the shift to value-based care through digital and other solutions offered by companies in the network.
Intermountain Healthcare recently merged with SCL Health, which operated St. Mary’s Medical Center in Grand Junction.
“This collaboration between Intermountain and General Catalyst can help turbocharge the movement towards population health and value-based care by connecting us with a network of innovators outside the traditional health care space,” said Dr. Marc Harrison, chief executive officer and president of Intermountain Healthcare.
At Intermountain Healthcare, providers participating in value-based care arrangements had more than 10 percent savings in 2021 compared to providers not in those arrangements. Prior to the merger with SCL Health, more patient-derived revenue at Intermountain came from value-based care than patient revenue from fee-for-service care.
“Marc and the Intermountain team are on the forefront of making value-based care a reality,” said Hemant Taneja, managing partner at General Catalyst. “They are long-term thinkers with a shared belief in our health assurance thesis and a commitment to building a modern health care system that has true interoperability.”