November 27, 2021

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Maycomb Capital’s Benefits Data Trust and Community Outcomes Fund Announce Social Motivation for Healthcare Funding Facilities for Medicaid Projects | State

Philadelphia, October 6, 2021 / PRNewswire / – The National Nonprofit Benefits Data Trust (BDT) and Maycomb Capital’s pioneering Community Outcomes Fund improve individual and community health outcomes by facilitating medical investment from insurance companies in access to the public interest. Announced a partnership to reduce avoidable care costs.

Maycomb Capital’s Benefits Data Trust and Community Outcomes Fund has announced a partnership to improve health outcomes.

This partnership gives healthcare organizations the opportunity to contract with BDT based on the results of their members. This is a results-oriented model aimed at increasing access to the public interest, such as Supplementary Nutrition Support Programs (SNAPs) and Special Supplementary Nutrition Programs. Women, toddlers, children (WIC), low-income household energy support programs (LIHEAP), etc. BDT uses flexible, mission-based capital from the Community Outcomes Fund to cover the initial costs associated with enrolling eligible members in benefits. Medical institutions pay BDT through individual results-based contracts only if BDT achieves the negotiated results. This “social impact” loan allows healthcare organizations such as the Medicaid Managed Care Organization (MCO) to easily access external innovation capital and make large investments to meet the social needs of its members. I can do it.

Studies show that access to SNAP improves health, reduces the use of avoidable care, and $ 1,400 Saves on annual care costs per adult. But before the pandemic, only 82% of eligible individuals and 48% of eligible seniors were enrolled in SNAP, starving millions of people and saving billions of dollars in medical costs. Was not realized. The positive health consequences and potential savings of linking members to profits provide Medicade insurers with a ROI plus (return on investment) opportunity.

The new partnership between the Community Outcomes Fund and BDT is timely as risky healthcare organizations recognize the value that specialized nonprofits bring to the Social Determinants of Health (SDoH) initiative. Contract complexity has hampered the use of social capital, and funding conflicts have hampered insurers from investing in SDoH. BDT and Maycomb have worked together to develop a new funding facility that solves both challenges.

“This financing facility has the potential to facilitate sustainable investment in proven and scalable slices of SDoH opportunities,” he said. Jared Sasco, BDT Chief Financial Officer and Human Resources Officer. “This addresses the common barriers that healthcare organizations face when trying to effectively deliver SDoH interventions on a large scale.”

The Community Outcomes Fund brings BDT, an organization that uses data, technology and policies to connect people to the public interest and improve access to food, health care, housing and more, to underutilized public interest programs. Help people in need of access.

“We believe that access to the public interest will be an important factor in addressing wealth and health inequalities,” he said. Andy phillips, Founder and Managing Partner of Community Outcomes Fund. “BDT and its healthcare partners are already profiting thousands of households, and collaboration between BDT, the healthcare industry, and the Community Outcomes Fund could have even greater impact.”

Before the COVID-19 pandemic, $ 60 billion The profits paid for food and medical care were undeveloped every year. Multiple barriers can make access to federal and state support programs difficult, but BDT and Aetna Better Health of PennsylvaniaPlan members, such as UPMC Health Plan, can experience a more streamlined process and receive one-on-one assistance to complete their benefits program application.

Benefits Data Trust (BDT) harnesses the power of data, technology, and policy to provide efficient and dignified access to assistance, improving people’s health and financial safety. Work with government agencies and a national network of other partners to streamline public benefits and connect eligible families and individuals directly to programs that support payments for food, health care, housing and more. BDT, a non-profit organization since 2005, $ 7.5 billion It benefits households across the country and paves the way for economic mobility and a more equitable future.

About Maycom Capital’s Community Achievement Fund

Outcome financing (sometimes called Pay for Success) has emerged as a promising way for local governments and healthcare organizations to fund and improve outcomes in underprivileged communities. The Community Outcomes Fund invests in public-private partnerships by proactively funding the provision of influential services and receives repayments when the program achieves agreed outcomes. Fund investments drive funding for evidence-based services that measureably improve the economic, social, educational, and health outcomes of low-income communities. In addition, fund investments increase transparency, improve accountability, facilitate meaningful shifts in public policy, and align funds with community priorities.

Source Benefits Data Trust

Maycomb Capital’s Benefits Data Trust and Community Outcomes Fund Announce Social Motivation for Healthcare Funding Facilities for Medicaid Projects | State

Source link Maycomb Capital’s Benefits Data Trust and Community Outcomes Fund Announce Social Motivation for Healthcare Funding Facilities for Medicaid Projects | State

https://pennsylvanianewstoday.com/maycomb-capitals-benefits-data-trust-and-community-outcomes-fund-announce-social-motivation-for-healthcare-funding-facilities-for-medicaid-projects-state/240388/