New company focused on in-home care for chronically ill Medicare patients aims to improve quality of care for difficult-to-treat populations and reduce overall costs.
Principium will be led by value-based healthcare expert, Kevin P. Murphy, who has joined Principium as chief executive officer to spearhead the development of this business unit and oversee strategy, growth and operations.
Since its founding in 2009, CenseoHealth has become one of the nation’s leading providers of in-home health assessments conducted by physicians, helping to improve the quality of care and reduce healthcare costs for Medicare Advantage, Commercial, and Medicaid plan members.
Principium represents a meaningful investment in enhancing the in-home delivery model to enable a comprehensive, longitudinal chronic care model serving the frail elderly patient population, a significant pain point among managed care operators. With the addition of Principium, CenseoHealth will be able to deliver its managed care customers a patient-centered care model that improves care quality for a difficult-to-treat population while reducing unnecessary medical costs. To support this strategic priority, CenseoHealth is investing in technology and human capital to deliver a truly unique service offering to the market that Murphy will now lead.
Murphy is a value-based healthcare industry expert with an established track record for improving quality of care and patient satisfaction while lowering the overall cost of care for high risk patient populations. Murphy successfully managed high risk patient populations for one of the leading Pioneer ACOs and also managed five of the most successful physician practices that participated in the Independence At Home CMS Demonstration Project, which—driven by Murphy’s leadership—were responsible for more than 85% of the entire demonstration’s savings in its first year. Independence At Home has been touted as “[t]he most financially successful demonstration in the history of the Medicare Program,” by Patrick Conway, M.D., M.Sc., Chief Medical Officer and Director of the Office of Clinical Standards and Quality, Centers for Medicare & Medicaid Services.
“I am excited to have Kevin join our team,” said Kevin McNamara, CenseoHealth’s Chief Executive Officer. “His track record of success and dynamic leadership experience in managing successful accountable care operations is unparalleled in the industry and will contribute substantially to both our company’s and our clients’ continued success.”
Prior to joining CenseoHealth to launch Principium, Murphy served as Chief Operating Officer for U.S. Medical Management, the nation’s leader for in-home medicine. Murphy transformed USMM from a 17-year-old fee-for-service, physician-led house call practice into the most comprehensive and successful in-home accountable care organization. Murphy’s contributions were instrumental in developing successful population health management strategies, driving business expansion and executing quality accountable care programs that deliver on healthcare’s triple aim.
“CenseoHealth has done remarkable work in engaging health plan members and delivering high quality, in-home care solutions,” said Murphy. “I am eager to join the team and to help us capitalize on the burgeoning opportunities that will shape the future of healthcare by expanding CenseoHealth’s home-based services.”
Censeo Health, LLC is a leading provider of prospective health assessments for health plans and healthcare delivery organizations. The company’s nationwide network of nearly 5,000 contracted physicians performs comprehensive, Annual Wellness Visit-compliant health assessments with members in their homes, at network physician offices and in community settings. By capturing complete health and social welfare assessments of health plan members to drive better clinical outcomes through care management referrals and return-to-care recommendations, CenseoHealth’s insights help enhance member engagement, improve quality ratings and reduce overall healthcare costs. Please visit censeohealth.com as well as our blog, LinkedIn and Twitter for more information about the company.
About Principium Health
Principium Health is changing the way health plans and health systems think about managing the care of their highest risk beneficiaries by providing longitudinal, team-based care in the home. Its mission is to provide forward thinking, community based, in-home chronic care management services that deliver compassionate, cost effective and sustainable quality care for the frail elderly. Please visit principiumhealth.com for more information about the company.
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