Worcester Business Journal

wbjournal.com | January 23, 2023 | Worcester Business Journal 7 *To receive the $500 payment you must engage with Fidelity Bank for a complimentary review of your current payment processing fees (via supplied current statement). If it is determined that Fidelity Bank is unable to provide Merchant Services Payment Processing Services at a savings you will receive a $500 payment. Payments will be made within 60 days of receipt of proposal or no fica on. Business must provide Fidelity Bank with a completed W9 Form to process payment. **To earn $500 equipment bonus you must open any Fidelity Bank BusinessWorx Checking account between January 9 through March 31, 2023 and enroll in Merchant Services Payment Processing services within 60 days of account opening. Bonus to be deposited into your account as an equipment rebate during the subsequent statement cycle a er having ac vated merchant services. $500 bonus offer valid only for new Fidelity Bank business merchant services clients. 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A huge driver of Hizanishvili's role is identifying what Commonwealth Medicine has successfully implemented in Massachusetts and getting that knowledge to providers and service organizations in other states. "It's about being good stewards of health care," said Colombo. "We have offerings that are benefiting Mass. in a very positive way, and we can spread it across the country to realize the same kinds of benefits." Sharing solutions Commonwealth Medicine has business and connections in 25 other states as far as Hawaii, but identifying the specific needs and mechanisms of interstate sharing will be a focus of Hizanishvili's position. As a member of the executive team at MassHealth before joining Commonwealth Medicine in early January, Hizanishvili led restructuring of payments for community health centers and negotiations processes for pharmacy. "Problems from state to state, more oen than not, are similar," said Hizanishvili. "All states have underserved populations." Despite similarities in issues, specific legislation may differ state to state and prevent systems working in Massachusetts from functioning the same elsewhere. At the same time, the process should be informed and reciprocal, said Colombo. "If someone is doing it better, faster, cheaper, we want to know about it," she said. Specifically in Massachusetts, MassHealth has in the past six years achieved a zero gross in effective pharmacy spend, said Hizanishvili, whose expertise is in this area. Its system of rebates on the state level, which have increased yearly, can be utilized elsewhere. States can negotiate their own rebates, said Hizanishvili, something Massachusetts has done effectively over the past several years to save billions. is area is one in which Commonwealth Medicine sees the biggest potential impact, said Colombo, is possible utilization in other states. She cited the Supplemental Nutrition Assistance Program, a program for which Commonwealth Medicine consults the Massachusetts Department of Transitional Assistance, which now saves $21 million annually, as an example. Underscored in all of this is the real benefit of healthcare savings at the state level, said Hizanishvili. "When we talk about hundreds of millions of dollars in Medicaid savings, that's not money that goes into the ether," he said. "It's money that goes to create better health outcomes for community members who need it the most." 3% 2.8% 3.6% 4.1% -2.4% 2016 2017 2018 2019 2020 Per capita annual percent increase in healthcare expenditures in Massachusetts Curbing rising costs Source: Massachusetts Center for Health Information & Analysis, 2022 report "It's certainly not a one-size-fits-all solution, because there are differing disparities in each community." Lisa Colombo, executive vice chancellor for Commonwealth Medicine at UMass Chan W

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