Benefits Data Trust and Maycomb Capital’s Community Outcomes Fund Announce Social Drivers of Health Funding Mechanism for Medicaid Plans | State
PHILADELPHIA CREAM, October 6, 2021 / PRNewswire / – The National nonprofit Benefits Data Trust (BDT) and Maycomb Capital’s pioneering Community Outcomes Fund have announced a partnership that will improve individual and community health outcomes and reduce avoidable care costs by catalyzing investments in care health insurance in access to public services.
Maycomb Capital’s Benefits Data Trust and Community Outcomes Fund announce partnership to improve health outcomes.
This partnership will give healthcare organizations the opportunity to contract with BDT on the basis of results for their members – a results-driven model aimed at expanding access to public services, including the Health Assistance Program. Supplementary Nutrition (SNAP), Special Supplemental Nutrition for Women, Infants and Children (WIC) Program, Low Income Home Energy Support Program (LIHEAP), and more. BDT will use flexible capital aligned with the mission of the Community Outcomes Fund to cover the initial costs associated with enrolling eligible members for the benefits. The healthcare organization will pay BDT through a separate performance-based contract, only when BDT fulfills the negotiated outcomes. This ‘social impact’ loan will allow a healthcare organization, such as a Medicaid managed care organization (MCO), to easily access outside innovation capital and make larger-scale investments for meet the social needs of their members.
Research has shown that access to SNAP improves health and decreases the use of preventable care, resulting in more $ 1,400 in annual savings in care costs per adult. However, before the pandemic, only 82% of eligible people and 48% of eligible seniors were enrolled in SNAP, leaving millions hungry and billions of dollars in unrealized healthcare savings. The positive health outcomes and potential savings generated by connecting members to benefits present a positive ROI (Return on Investment) opportunity for Medicaid insurers.
The new partnership between the Community Outcomes Fund and BDT is timely, as at-risk healthcare entities realize the value that specialist nonprofits bring to their Social Drivers of Health (SDoH) initiatives. Contractual complexities have hampered the use of share capital and funding frictions have hampered investments in SDoH by insurers. BDT and Maycomb have collaborated to develop a new funding facility that solves both challenges.
“This finance facility has the potential to catalyze sustainable investments in a proven and scalable tranche of the SDoH opportunity,” said Jared susco, Director of Finance and Human Resources of BDT. “It addresses common barriers healthcare entities face when attempting to effectively deliver SDoH interventions at scale. “
The Community Outcomes Fund identified BDT – an organization that uses data, technology and policies to connect people to public benefits by increasing access to food, health care, housing, etc. – as a partner who can rapidly implement and scale up large-scale interventions focused on helping people in need access underutilized public interest programs.
“We believe that access to public benefits can be a key element in addressing disparities in wealth and health,” said Andi phillips, Founder and Managing Partner of the Community Outcomes Fund. “BDT and its health partners have already connected thousands of homes to benefits, and the collaboration between BDT, the health sector and the Community Outcomes Fund can generate even more impact.
Before the COVID-19 pandemic, more than 60 billion dollars the benefits of paying for food, health care, and more went untapped every year. Multiple barriers can complicate access to federal and state aid programs, but thanks to BDT’s partnerships with payers like Aetna Better Health of Pennsylvania, UPMC Health Plan and others, plan members benefit from a more streamlined process where they can receive one-on-one assistance in completing benefit program applications.
BDT is looking to enter into contracts with several healthcare organizations interested in results-based agreements to help their members access benefit programs. For more information, please visit https://bdtrust.org/healthcare-innovation or contact BDT at [email protected]
About Benefits Data Trust
Benefits Data Trust (BDT) harnesses the power of data, technology and policies to provide efficient and dignified access to assistance, thereby improving people’s health and financial security. Working with a nationwide network of government agencies and other partners, we are streamlining public delivery systems and directly connecting eligible families and individuals to programs that help pay for food, health care, shelter , etc. Non-profit since 2005, BDT has obtained more than $ 7.5 billion into benefits for households across the country, creating pathways to economic mobility and a more equitable future.
About the Maycomb Capital Community Results Fund
Funding for results – sometimes called Pay for Success – has become a promising way for local governments and healthcare organizations to fund what works and improve outcomes for disadvantaged communities. The Community Outcomes Fund invests in public-private partnerships by funding high-impact service delivery upfront and receives reimbursement as the program achieves agreed outcomes. The Fund’s investments invest in evidence-based services that measurably improve economic, social, educational and health outcomes in low-income communities. Additionally, the Fund’s investments increase transparency, improve accountability, and facilitate meaningful change in public policy to align funding with priority outcomes in communities.
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