More than 120 Maryland primary care providers created the Chesapeake Independent Physician Association.
Here are five things to know:
1. The physicians partnered with Universal American Corp.'s Collaborative Health Systems in White Plains, N.Y., to create the IPA.
2. Joining forces in hopes of enhancing patient care, decreasing healthcare costs and preparing for payment reform, the physicians will lead the Chesapeake IPA.
3. Universal American is equipped with more than 15 years of experience collaborating with primary care physicians on Medicare risk-based contracts.
4. Collaborative Health Systems will provide the Chesapeake IPA participants with risk-contracting and management support as well as population health capabilities.
5. Participating IPA providers pay $1 in membership cost for the first year, with a 90-day notice to leave without facing any penalty. The providers have the option to opt in for fee-for-service and value-based IPA-negotiated payer contracts. Providers may also purchase a membership in the IPA, becoming co-owners.