Today we’d like to introduce you to Dave Terry.
Dave, can you briefly walk us through your story – how you started and how you got to where you are today.
Many of the folks on our team at Archway have been working with healthcare providers for over 20 years, all along the continuum of care – big healthcare systems like Partners Healthcare, long term care providers, Primary care doctors to manage population health, and with specialists.
For all of us this, this has often been a frustrating experience.
For me personally, when I got into healthcare in 1990 as a nation we were spending 13 % of our economy on healthcare and it was generally considered to be a mess. After 25 years of devoting my time and energy to our industry it still seems that patients, doctors, nurses and administrators are as frustrated as ever, quality of care and access to care for patients is variable, we hear about other countries doing a much better job, and now we’re spending almost 19% of our economy on healthcare
So a few years ago when I took a hard look at this situation and my role in it I decided to leave my job and build a bundled payment company.
So now you’re saying – what…? Not sure that sounds like a logical conclusion of this way too long story. But over the years I’ve worked in all of the reimbursement models – Fee for Service, Population health, global budgets, ACOs – and what I love about the bundled payment model is that it’s the only model that empowers the best experts – specialist physicians – to focus on patients who are sick, and help them get better and get back home.
And over the last few years we’ve seen that this is a better way to deliver healthcare, its having a big impact on improving outcomes and the patient experience, significantly reducing costs, while also helping the providers we’re working with earn new revenue.
Our goal at Archway is to work with specialty providers, employers, and health plans who also believe this is a better way, and our objective is to help those folks improve care and reduce costs as they build and implement these initiatives.
Great, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
Change in healthcare is hard. The Medicare program has been the biggest driver of new payment models and they have been a great partner for us, but it can at times be hard to work with one big governmental payor. The commercial health plan market is also a big priority for us, but that market has been slower to adopt new payment models, it is just starting to get going now. I’d also say that bundled payment models can be disruptive for incumbent providers and health plans, and we have seen some resistance from large established players in the market.
Archway Health – what should we know? What do you guys do best? What sets you apart from the competition?
Archway Health’s mission is to fix healthcare through payment reform. We do this by helping providers and payors build and manage bundled payment programs. Archway’s Bundled Payment solution is a comprehensive platform that includes Archway Carelink, a simple patient tracking tool, and Archway Analytics, a web-based claims data analytics platform. Archway is currently working with over 50 providers across the country who are participating in the various Medicare bundled payment programs, as well as with commercial payors who are pursuing bundled payment initiatives.
What sets us apart is our comprehensive bundled payment platform. Our knowledge and experience in how these programs work, and our commitment to helping our provider and payor partners succeed in these programs. To date all of our customers are achieving positive results for their patients and reducing healthcare costs by 10% per episode on average and up to 18% in some practices.
Below are a few bullet points that provide more detail about Archway Health.
– 100% Focused on Bundled Payment – it’s all we do
– Founded in 2014 with offices in Boston and NYC
– Our team has been active in bundled payment programs since Medicare created them in 2011
– Backed by AthenaHealth & Coverys – large medical malpractice insurance company
– Active in all of the CMS bundled payment programs – BPCI, CJR, OCM, EPM
– Convener in the BPCI program
– Built a comprehensive, one stop shop bundled payment platform
– Working with dozens of customers & hundreds of providers across the country
– Real results – all of our partner hospitals & physicians are earning significant savings
– Expanding beyond CMS into the commercial and self-insured employer markets
What moment in your career do you look back most fondly on?
Helping to build the best bundled payment team in the country, it’s a terrific group of people committed to improving healthcare for patients and providers while reducing the overall cost of care, which is one of the biggest problems our country faces today.
- Website: www.archwayhealth.com
- Phone: 617/209-7985
- Email: firstname.lastname@example.org