Thyme Care, a value-based care enabler focused on oncology, has formally launched a dedicated platform for oncology practice partners.
Thyme Care Oncology Partners (TCOP), which has long been in the making, currently consists of more than 400 oncologists across 25 states. Together, Thyme and its partner practices will design and implement value-based initiatives for patients covered by risk-bearing entities, with Thyme taking on downside risk for these partners.
“Very few oncology practices are taking large amounts of financial downside risk, given the infrastructure and information and data that you would need to be able to take that on,” CEO Robin Shah told Fierce Healthcare.
TCOP practices will have the opportunity to participate in quality incentive programs, which create novel revenue streams, the company argues. Some TCOP partners already participate in risk, but that’s not a requirement, Shah said.
The company offers patient-centered resources directly within oncology practices like navigation services, operational and actuarial support and the incentive to provide value-based activities. While government-led efforts signal a paradigm shift toward value-based cancer care, Thyme said, patient navigation programs have traditionally been costly and burdensome to implement and scale.
“We’re bringing together all of the stakeholders in such a way that it makes sense for everyone to be a part of,” Bobby Green, M.D., co-founder and chief medical officer of Thyme Care, said in an announcement. “Too often in the past this has been attempted without collaborating with the people actually taking care of cancer patients, the oncologists. Together with our partners, we’re helping to drive this shift to value-based cancer care.”