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NOVO Health: Your Connection to High Quality, Low Cost Health Care
Here’s a quick overview of NOVO Health, which represents independent physician groups that offer money-saving healthcare solutions to self-insured employers.
What is NOVO Health?
NOVO Health is a collaboration between employers, physicians, and healthcare service providers with the common goal of offering high-quality, low-cost health care for employees. NOVO Health operates on a model where the focus is to create sustainable systems to give employers a competitive edge in the marketplace through their ability to offer superior health care.
History of NOVO Health
With its early days spent concentrated in orthopedic care at the Orthopedic & Sports Institute of the Fox Valley, NOVO Health was born from the desire to simplify and improve the patient experience. The driving focus was straightforward: how to make the experience for both employees and employers better and easier.
NOVO Health’s founder, Curt Kubiak, began his career in product manufacturing and quickly learned the importance of offering consumers as many benefits as possible while streamlining the delivery process. As his career evolved into where it is now, as CEO of NOVO Health, Kubiak kept his vision focused on key principles that the organization still prioritizes today.
Through further experience in the orthopedic sector and development of various programs with physician groups and health service providers, NOVO Health formed as a result of collaboration between these groups and employers, all who share the common goal of providing the highest quality of care, with the simplest delivery, at the best price.
NOVO Health’s Beliefs
The ultimate goal of NOVO Health is to provide accessible and affordable healthcare for all.
NOVO Health strives to re-train the way we think about healthcare, demonstrating that there are high-quality medical services available at cost-effective rates that are advantageous for all groups involved: employers, employees, and physicians.
NOVO Health operates on several core goals that act as a framework for their delivery of sustainable healthcare. These guiding principles include:
•Begin with the end in mind, focused on an effortless process for users and providers
•Optimize systems to reduce deficiencies and create sustainable results
•Create cost savings at every stage
•Add value through saving time for all groups involved
•Create consistent, superior quality care
Why use NOVO Health?
NOVO Health is focused on quality and cost of health care, two of the most important decision-making factors for patients. To deliver these results to employers, NOVO Health is committed to providing:
•Consistent quality of healthcare services
•Comfortable and anxiety-free experience for patients
•Reduced rates of re-admission to hospital through increased education and awareness
•Single-location medical services for patient convenience
The NOVO Health Solution
NOVO Health stemmed from an innovative model known as Direct Contracting, by which both the employer and the provider agree ahead of a procedure what the cost of services will be. In other words, all the expenses for a medical treatment like surgery fees, recovery stays, anesthesia, nursing, and physical therapy are included on one invoice, upfront. The fixed price means there are no surprises to patients or hidden fees.
To improve the quality of healthcare suppliers, NOVO Health has implemented the use of preferred vendors. The criteria for becoming a NOVO Health preferred provider include benchmarks such as:
•On-time medical services delivery
•Value in new markets
•Collaborative with employers
•Innovators of new ideas
When physicians, provider groups, and employers join forces through NOVO Health, they can make real strides in the areas of minimizing employee downtime due to illness or injury, reducing the impacts of chronic disease on the employee’s ability to perform their duties, and managing an aging workforce.
The Advantages of NOVO Health
NOVO Health has many positive features and outcomes that are beneficial for all groups involved. The unique and innovative model is a showcase for how health care can work at its optimal level of efficiency, making it an easy and effective choice for everyone who uses this program. Each group of people that works with NOVO Health has advantages from using the system, and these are further detailed below.
Benefits for Employers
NOVO Health’s system will quickly become an essential healthcare model for self-insured employers. Primarily, employers want healthcare solutions that are cost effective for their business. NOVO Health provides employers with the ability to realize a minimum of 10% reduction of typically high-cost medical items, translating into control of medical spending for the company overall.
NOVO Health allows employers to build relationships with key medical practitioners and to strengthen their relationship with employees by providing them with superior health care. The ability to offer healthcare savings makes employers who work with NOVO Health more competitive in the market and allows them to attract better candidates and retain more satisfied employees.
Employers who work with NOVO Health report higher employee satisfaction, a stronger and more positive company culture, and ultimately, a business that can operate at a healthier and higher productivity level.
Benefits for Employees
Employees of companies who work with the NOVO Health system see significant financial advantages. Some of the most notable cost savings for employees include:
•Approximately 10% lower healthcare costs than the rest of the market
•One-time co-pay for any procedure
•One price for bundled services or procedures, which is invoiced at one time in advance.
In addition to financial benefits, employees take advantage of comprehensive services provided at a single location, better quality care, and a retail patient experience.
Benefits for Healthcare Providers
NOVO Health is committed to its role as a leader in the healthcare services industry for self-insured employers. The unique model of collaboration allows independent physicians, employers, and employees to team up to achieve their shared healthcare goals. It is easy to see why NOVO Health holds the competitive edge for healthcare delivery. From the organization’s earliest days until the present, the single most important outcome for NOVO Health has been providing affordable, accessible health care and reaching as many Americans as possible through its innovative program for employers.