The Ilumed team is noted for their expertise in risk management and a deep commitment to putting patients first, which is evident throughout the company.
In this episode, Melissa Conboy, Marketing Director at Ilumed, discusses how the company partners with physicians and health systems to transition patients to value-based care. She highlights CMMI's temporary but promising program, which aims to improve patient health outcomes and reduce Medicare spending. Mel shares a recent case study from a rural health clinic in West Virginia that saw increased annual wellness visits and better patient outcomes. She also explains why the illumed team is praised for their expertise in risk management and their deep commitment to patient care.
Join us and discover the growing importance of value-based care in healthcare's future!
Resources:
[00:00:02] [SPEAKER_01]: Hey, everybody. Welcome back to the Outcomes Rocket. I'm so excited to be here on this
[00:00:09] [SPEAKER_01]: HFMA Insights from 2024's national meeting. And today I have the privilege of hosting
[00:00:16] [SPEAKER_01]: the amazing Mel Conboy. She is the Director of Marketing and Government Relations at
[00:00:23] [SPEAKER_01]: Ilumed. I'm so excited to have her here on the podcast. Mel, thank you so much for
[00:00:28] [SPEAKER_01]: joining.
[00:00:29] [SPEAKER_00]: Of course. Thank you for having me, Saul.
[00:00:30] [SPEAKER_01]: Of course. Look, to kick the series off, we spent some good time there at the conference. And for
[00:00:37] [SPEAKER_01]: the people that haven't been able to attend, they're going to learn a lot from our time
[00:00:41] [SPEAKER_01]: together here. But before we get into that, tell us a little bit about Ilumed. What do you
[00:00:46] [SPEAKER_01]: guys do? And what inspires the things that you do at the business?
[00:00:50] [SPEAKER_00]: Of course. Yeah, the conference is wonderful. So we at Ilumed are an ACA reach. It is an
[00:00:55] [SPEAKER_00]: alternative payment model for traditional fee-for-service Medicare. So we partner with
[00:00:59] [SPEAKER_00]: physicians and health systems and help transition their patients over to value-based
[00:01:03] [SPEAKER_00]: care. It is also an enhanced revenue stream for providers.
[00:01:07] [SPEAKER_01]: Amazing. And we spent some time talking about this. And this was news to me, too.
[00:01:11] [SPEAKER_01]: Like I didn't know the structure. So like for the benefit of the audience, there's
[00:01:16] [SPEAKER_01]: a program right now that's temporary, but there's discussions to extend it, which
[00:01:20] [SPEAKER_01]: is the basis for what you guys do. Do you want to help educate us a little bit on
[00:01:23] [SPEAKER_01]: that?
[00:01:24] [SPEAKER_00]: Yeah, of course. So this is a model. It is out of the CMMI. And so they're
[00:01:28] [SPEAKER_00]: always testing new ways to improve patient health outcomes while reducing Medicare
[00:01:33] [SPEAKER_00]: spend. And so this model is set through 2026, and we are hoping that they extend
[00:01:37] [SPEAKER_00]: it further.
[00:01:38] [SPEAKER_01]: Amazing. So a lot of opportunities here, folks. And I'm just impressed with the
[00:01:43] [SPEAKER_01]: work that Mel and the Ilumed team are doing to make the most out of this
[00:01:48] [SPEAKER_01]: program to benefit patients, but also those provider organizations looking to add
[00:01:53] [SPEAKER_01]: revenue streams, but take care of the patients in a better way. What recent news
[00:01:57] [SPEAKER_01]: or insights about the company do you want to share with us?
[00:02:00] [SPEAKER_00]: Yeah, so we're actually really excited. We're working on a case study right now
[00:02:04] [SPEAKER_00]: with one of our rural health clinics in West Virginia. And we were able to
[00:02:08] [SPEAKER_00]: increase their annual wellness visits and resulting in a lot of increased
[00:02:12] [SPEAKER_00]: patient outcomes. And so that should be coming out shortly.
[00:02:15] [SPEAKER_01]: Amazing. And you know, you guys, by the way, just to give folks a good
[00:02:19] [SPEAKER_01]: understanding, you've been around and the team's been around for a while.
[00:02:22] [SPEAKER_01]: Tell us a little bit more about the team and the track record because
[00:02:25] [SPEAKER_01]: that's pretty impressive.
[00:02:26] [SPEAKER_00]: It is. We have a seasoned team of leaders that are very well versed in
[00:02:31] [SPEAKER_00]: risk management and taking on risk. And the main thing that is probably the
[00:02:35] [SPEAKER_00]: most impressive with this team of leaders is their care and compassion.
[00:02:38] [SPEAKER_00]: You truly feel it throughout our entire company. All we ever do is put
[00:02:41] [SPEAKER_00]: the patient first, and it starts out the leadership level.
[00:02:44] [SPEAKER_01]: That's awesome. And folks, it is about putting the patient first when
[00:02:49] [SPEAKER_01]: you do that. It's incredible what happens to your business. It grows. And
[00:02:54] [SPEAKER_01]: you're talking double digit, triple digit growth when you do the right
[00:02:57] [SPEAKER_01]: thing. Just like Mel mentioned her leadership team is doing so I want to
[00:03:02] [SPEAKER_01]: recognize them and give them kudos for the work that they're doing
[00:03:05] [SPEAKER_01]: putting patients first. Many of you weren't able to attend HFMA. And
[00:03:09] [SPEAKER_01]: that's why we're doing this as an insight that kind of rose to the
[00:03:12] [SPEAKER_01]: top of your mind, Mel. What was it? And let's share with the
[00:03:16] [SPEAKER_01]: with the audience.
[00:03:17] [SPEAKER_00]: Of course. Well, it has to be the increasing emphasis on value
[00:03:20] [SPEAKER_00]: based care. Of course, that is what we do at our core. And I think
[00:03:23] [SPEAKER_00]: the conference did a good job of highlighting the importance of
[00:03:26] [SPEAKER_00]: providers prioritizing patient outcomes over volume. And I think
[00:03:29] [SPEAKER_00]: that is the future of health care. And as we say, we're here to
[00:03:33] [SPEAKER_00]: heal health care.
[00:03:34] [SPEAKER_01]: I love it. I love it. Let's heal health care together. And for
[00:03:37] [SPEAKER_01]: everybody listening, thinking man, what can I do? How can I do
[00:03:42] [SPEAKER_01]: better? One of the biggest themes was it's hard to get paid.
[00:03:45] [SPEAKER_01]: It's hard to get paid. I don't know what to do. How do I do
[00:03:48] [SPEAKER_01]: this? Well, we'll call the action would you would you leave
[00:03:51] [SPEAKER_01]: them with Mel and what's the best place they could reach out to
[00:03:54] [SPEAKER_01]: you and the Illumid team?
[00:03:56] [SPEAKER_00]: Of course. So we do have a lot of great resources on our Illumid
[00:03:59] [SPEAKER_00]: website, it is Illumid.com, especially for providers if
[00:04:03] [SPEAKER_00]: you're interested in our financial model at all. There
[00:04:05] [SPEAKER_00]: is an ebook on there and you can always reach out for more
[00:04:08] [SPEAKER_00]: information and the contact form.
[00:04:10] [SPEAKER_01]: Amazing. Well, Mel, I want to thank you again for doing
[00:04:13] [SPEAKER_01]: this. We really appreciate you and the work that you and the
[00:04:16] [SPEAKER_01]: team do for our health systems and patients. So big
[00:04:20] [SPEAKER_01]: thanks to you and for everybody listening and watching. Thank
[00:04:23] [SPEAKER_01]: you all for spending another episode with us on the HFMA
[00:04:27] [SPEAKER_01]: insights from the 2024 national meeting. Thanks for tuning in.
[00:04:30] [SPEAKER_01]: Stay tuned for the next one. Mel, thanks again.
[00:04:32] [SPEAKER_00]: Of course. Thanks all.