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Member, Beacon International Group, Ltd.
Blue Cross & Blue Shield of Minnesota announced that its value-based contract with Minnesota Oncology reduced the total cost of care for cancer patients during the first two years of the agreement, reports Healthpayer Intelligence. The insurer and Minnesota Oncology entered into the value-based agreement in the fall of 2019 to shift away from fee-for-service and improve care quality, costs, and the patient experience. Preliminary data shows that the value-based model reduced the total cost of care by 10% for Minnesota Blues patients compared with the Twin Cities oncology market prices.