Bloomfield, Conn.-based Cigna entered into a value-based agreement with San Diego's Scripps Health to offer employers value-based services.
Here's what you should know.
1. Cigna and Scripps are marketing the new plans as Scripps Select HMOs to companies with at least 100 employees.
2. Beneficiaries will benefit from pay-for-value incentives which encourage quality care and the "appropriate use of resources."
3. The program's goal is to increase outcomes while lowering costs to employers.
4. This is the second value-based care initiative the companies have partnered on. In 2015, Cigna and Scripps entered into a value-based reimbursement agreement to reward physicians for improved quality and cost.