Investors, payers, stakeholders and practitioners: Partner with Factor Health to catalyze a new business of health.
Factor Health is a collaboration between many different partners at different stages of the intervention process. Any existing organization, company or individual who works to improve health drivers can become a partner. Factor Health convenes teams with various expertise and resources to work on proposed interventions, developing them into successful new approaches for tackling health drivers.
Types of Partners
Community-based organizations that already focus on improving health drivers in specific areas submit letters of interest to Factor Health. These organizations work with experts, funders and service partners to evolve interventions. For more details on eligibility, read about the application process.
Short-term investors (e.g. donors, social impact or traditional investors) initially fund the finalist interventions for two years to de-risk investment and create a model for sustainability. Social impact investors will ultimately see the long-term health care impact of their investment, and traditional investors will be at the forefront of a profitable, new way of business. All payers and investors are at the table to advise and shape interventions as they move forward.
Long-term payers (e.g. insurance companies, local health districts, charity care hospitals) commit to supporting the sponsored intervention if milestones are achieved after the two years of initial funding. To start, an initial short-term investment partner (starting with founding partner Episcopal Health Foundation) invests in the Factor Health selected interventions for two years to de-risk the project for future proposals and long-term payers.
Many other companies, organizations or individuals can partner with Factor Health to leverage their expertise and services and enhance intervention proposals. These partners bring their long-time health care expertise, product or service to the process, complementing proposals. Partners participate in different phases for different needs to complement and round out the intervention proposals. Examples include: technology companies that help build new payment models; national experts who provide information on measurement components; data specialists who create new reporting tools; and food-service organizations that provide healthy food for a delivery program.
By creating these partnerships, Factor Health supports a new business of health in which innovations receive the necessary support to fill a true gap in improving health drivers. Working together, all partners and expert providers will create mechanisms that aren’t traditionally delivered by health care providers.
The platform launched in Austin, Texas, in January 2019, and will soon expand to Houston.
What Factor Health Does
Factor Health calls for letters of interest from community-based organizations in the health ecosystem that are addressing health drivers. The program reviews and selects 10 to 20 of the most feasible interventions.
The program creates an online platform to provide feedback and guidance from national experts on operations, population, funding, etc., of submitted proposals. It helps write and refine requests for proposals through the platform, information sessions and phone and email consultations before receiving all final submissions. At this stage, Factor Health begins to spark interest from potential partners who would enhance interventions and create seamless health care services.
The program organizes a scientific review panel with various partners — national experts, a potential long-term payer, health service providers — who identify gaps and suggest solutions or changes as necessary. This improves the interventions’ ability to impact clinical measures through each step of the process. Factor Health continues to talk to payers to gauge interest in specific interventions. The program team reviews requests for proposals and selects four to six of the best interventions, granting them consultation awards.
Factor Health continues to bring potential long-term payers to the table to co-design the interventions and assess their potential for sustainable funding. It convenes the teams of companies, organizations or individuals that work together and define relevant outcome measures for health areas and populations of interest to them. The program helps organizations complete and prepare the proposal for final intervention selections through partner teams that match interventions’ needs and services.
Factor Health awards two to three of the most promising interventions and sponsors them with a short-term investor (starting with the founding partner, Episcopal Health Foundation) — a way to lessen the risk for potential long-term payers.
Potential long-term payers commit to supporting the sponsored intervention if it achieves all milestones after the two initial sponsor years. The program conducts a one-year review (through a “fast-fail” mechanism) to assess if an intervention has the potential to move ahead or not. If it passes, Factor Health works with the payer to put into place the mechanisms and models necessary to continue the intervention after the program is completed. If it does not pass the review, Factor Health helps the intervention and organization adapt to an alternate model to wind down its participation in this program.
The program continues to assess the progress of the intervention through a health services research framework, including health and financial outcomes. Factor Health uses interventions as an environment to vet for novel tools and technologies that help deliver better, personalized health solutions for all. It builds a business model around the interventions that captures the value created through the platform, which de-risks investment.