Anthem is joining other health insurers in the shift from traditional fee-for-service medicine to value-based pay, according to a Forbes report.
Anthem CEO Joe Swedish told Wall Street analysts and investors during the company's fourth-quarter earnings call Wednesday that the insurer has more than $38 billion for value-based contracts, representing 30 percent of its commercial claims and about 40,000 providers, according to the report.
For the fourth quarter of 2014, Anthem reported a net income of $506.8 million, up from $148.2 million in the same period of 2013.
Mr. Swedish said in the report that Anthem's value-based contracts include "enhanced payments for performance and shared risk or bundled payment arrangements." Anthem has nearly 120 ACO arrangements, along with "other collaborative efforts such as patient-centered medical homes, hospital quality and safety programs, and other partnerships that share financial risk and gain," he added in the report.
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