Risk Contracting Training Resources To Stem From CMR Institute And Milliman Collaboration

ROANOKE, Va., March 24, 2016 /PRNewswire-iReach/ -- CMR Institute—the leading provider of non-brand related education for biopharmaceutical, medical device & diagnostics (MD&D), and related life science industries—announced that they are collaborating with  Milliman, Inc., the leading provider of actuarial consulting services to the healthcare industry, to create expert risk contracting training resources to be available in April 2016. CMR will be working with Milliman consultants from their New York office.

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As healthcare is transitioning to value-based care and alternative payment models, risk contracting between payers and providers is becoming a common practice. Understanding how payers, providers, and manufacturers can systematically approach risk contracting is critical for commercial sales teams from biopharmaceutical and medical device companies, as they create strategies to build more meaningful partnerships with their customers.

"With increased focus on transitioning from volume to value, new business models are emerging for all stakeholders. We expect this to drive more payers and providers to increase their engagement in risk contracting with biopharmaceutical and medical device companies." said Michelle O'Connor, President and CEO of CMR Institute. "Our collaboration with Milliman is an example of CMR Institute's commitment to deliver relevant, real-world perspective and knowledge. With a deeper understanding of risk contracting, our clients' commercial teams will be better prepared to have more meaningful and strategic discussions with their customers."

Many forward-thinking biopharmaceutical and MD&D companies are piloting risk contracts with key customers. Effectively designing these contracts is essential to ensure appropriate utilization, broader patient access to the most effective therapies, and improved healthcare outcomes.

"A huge cross-section of the US healthcare system is shifting to risk, with Medicare and private payers implementing a variety of value-based systems, often through accountable care organizations," said Bruce Pyenson, Principal and Consulting Actuary in Milliman's New York office. "However, risk contracts are a newer and bigger challenge for biopharmaceutical and MD&D companies than for provider organizations. Our collaboration with CMR Institute will introduce the actuarial concepts and analytic rigor needed for risk contracts to these companies and will help build support for approaching risk in a systematic way."

Prior to the launch of the risk contracting training resources, CMR Institute and Milliman will be hosting a live, interactive webinar on Monday, April 11^th at noon, to discuss risk sharing across the industry and the opportunities it presents life science companies. To learn more or register, click HERE.

About CMR Institute
CMR Institute is the leading independent provider of non-brand related training resources for the biopharmaceutical and medical device industries and has educated more than 150,000 professionals. Our training resources are created in partnership with leading academic experts and distinguished healthcare executives—to empower our clients and their commercial teams to achieve sustained success with applicable, actionable knowledge. CMR Institute's not-for-profit status allows it to re-invest its resources into its educational content—continually evaluating and updating resources based on ongoing expert input, industry insights, and marketplace changes. CMR Institute's commitment to training excellence ensures our clients are always ready to face the next marketplace challenge and successfully demonstrate their value-proposition. To learn more, visit www.cmrinstitute.org. @CMRInstitute

About Milliman
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.  For further information, visit milliman.com.

Media Contact: Ilona Todd, CMR Institute, 800.328.2615, [email protected]

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SOURCE CMR Institute