3M Health Information Systems, Edifecs Partner On Value-Based Payment Solutions

3M Co's MMM Health Information Systems (HIS) is collaborating with Edifecs Inc on a solution for both payers and providers to accelerate the adoption of value-based payment (VBP) models.
The combined solution will help overcome the barriers that have prevented the more rapid adoption of alternative payment models.
The partnership will combine Edifecs' VBP actuarially-driven templates and precision risk intelligence capabilities with 3M patient classification methodologies to pay providers and accurately measure healthcare quality.
The approach allows payers and risk-bearing providers to quantify the value of preventing negative events and allocate accountability across multiple providers, health systems, and payment arrangements.
"The solution aims to promote trust between payers and providers and enables providers to move more confidently and successfully into advanced payment and accountability models," said Sandeep Wadhwa, MD, 3M HIS global chief medical officer.
Price Action: MMM shares are trading higher by 0.56% at $127.50 on the last check Tuesday.
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