WOBURN, Mass., May 26, 2021 /PRNewswire-PRWeb/ -- Validation Institute, an organization formed to certify claims made by population health and cost-containment vendors, and MedEncentive, a digital health-improvement and cost-containment service, today announced an unprecedented partnership to guarantee overall cost savings to health insurance customers, such as self-insured employers and government-sponsored health plans.
In the partnership, MedEncentive agrees to financially guarantee health improvement and lower costs, if its customers independently engage Validation Institute to confirm the outcomes achieved by MedEncentive. To make the cost of engaging Validation Institute free of charge, MedEncentive will discount its fees accordingly.
This offer is available to all MedEncentive customers, including private and public self-insured employers, commercial health insurers, Medicare, Medicaid, and risk-bearing health providers.
This partnership evolved from Validation Institute's certification of the MedEncentive Mutual Accountability and Information Therapy (MAIT) Program, earlier this year. The certification established the MAIT Program as the
"first and only" solution to have peer-reviewed and validated proof of achieving the coveted Quadruple Aim (i.e., better health, better healthcare, lower costs, patient and physician fulfillment). Validation Institute is so confident in its certification, and the capabilities of the MAIT Program, it is offering its own financial guarantee to MedEncentive customers.
The MedEncentive MAIT Program is a web-based, mobile-enabled service that employs a patented incentive mechanism that rewards both doctors and patients for holding each other accountable for achieving better health and healthcare, resulting in lower costs and a return on investment for customers. The MAIT Program is unique in its use of reward-induced "information therapy" to address the well-documented ill effects of inadequate health literacy.
In a five-year study, published in the peer-reviewed Journal of Medical Internet Research, and certified by Validation Institute, researchers found that the MAIT Program was associated with double-digit reductions in hospitalizations, emergency room visits, and per capita expenditures, producing a substantial return on investment for the health plan sponsor.
Formed by GE and Intel to separate fact from fiction among claims made by population health and cost containment vendors, Validation Institute applies the most widely accepted measurement standards to issue certificates of authenticity. In this partnership, Validation Institute's data scientists will analyze the data of MedEncentive's customers, and certify the results.
"We are excited to work in partnership with MedEncentive to offer employers a discount to engage Validation Institute as a way to validate the results of their program," said Benny DiCecca, Validation Institute's CEO. "This speaks volumes about MedEncentive's program, and should result in widespread adoption by health plan sponsors."
"Our ongoing efforts to impress upon the market that there is no solution more effective at improving health and lowering costs than the MAIT Program, led us to the Validation Institute," said MedEncentive CEO Jeff Greene. "We hope everyone realizes the significance of this partnership, and look forward to working with Validation Institute to help employers, health plans, and their benefit advisors understand and attain the full benefit of our program."
About MedEncentive LLC
MedEncentive is a health-improvement, cost-containment service for employers, insurers, and governments. The Company's web-based and mobile-enabled Mutual Accountability and Information Therapy (MAIT) Program employs a patented, aligned-incentive mechanism proven to improve health and health care, and lower costs—an objective often referred to as the "Triple/Quadruple/Twelve-Part Aim." What makes the MAIT Program unique is
how it offers financial incentives to both patients and doctors, for holding each other accountable for completing an educational and motivational process called "information therapy," which is known to mitigate the ill effects of
inadequate health literacy. http://www.medencentive.com
About Validation Institute
Validation Institute is an independent, objective, third-party organization, on a mission to improve the quality and cost of healthcare. Based in Woburn, MA, the organization is made up of a network of health benefits purchasers, health benefits advisors, and healthcare solution providers, focused on delivering better health value and stronger outcomes than conventional healthcare. http://www.validationinstitute.com
Aimee OBrien, Validation Institute, 603-531-0266, [email protected]
SOURCE Validation Institute