Utah-based Physician Group Achieves More Than $49 million in Savings in Last Four Years
PROVO, Utah, March 3, 2020 /PRNewswire-PRWeb/ -- Revere Health, the largest independent multispecialty physician group in Utah, reduced health care spending for Medicare patients by $19.5 million as part of its participation in the Next Generation Accountable Care Organization (ACO) Model, making it one of the top performing accountable care organizations in the country. This is according to data recently released from the Centers for Medicare & Medicaid Services (CMS) for the 2018 performance year.
2018 marks the fourth consecutive performance year that Revere Health has achieved savings—a total savings of more than $49 million since 2015. In 2018, Revere Health was one of only 50 ACOs participating in the Next Generation ACO Model, which is reserved for ACOs that have demonstrated an ability to continually provide high-quality, low-cost care.
"We are proud of the fact that Revere Health is the leading Next Generation ACO in savings per patient," said Revere Health CEO Scott Barlow. "While the process of implementing a value-based care model has not been easy, the progress we have made is evidence that high-quality, cost-effective care is possible." He also noted that Revere Health has reduced costs for Medicare patients by an average of 8 percent every year during the past four.
Other highlights from the CMS 2018 Next Generation ACO performance report:
- Revere Health serves 14,474 Medicare patients through its Next Generation ACO.
- Revere Health achieved the highest savings rate per patient of all 50 Next Generation ACO at 11.5 percent (approximately $1,300 per patient).
- Revere Health had the lowest unplanned hospital admission rates of all Next Generation ACOs in every category, which includes patients with diabetes, patients with heart failure and patients with multiple chronic conditions.
These results demonstrate Revere Health's commitment to value-based care and success in transforming the way patients receive health care in Utah.
"Not many ACOs in the U.S. have been able to achieve cost savings for four consecutive years, and Revere Health is part of that elite group," said Revere Health President and cardiologist Scott Bingham, MD. "Our clinic is leading the industry at a time when everyone knows that increases in health care costs are not sustainable, but few health care systems have been able to find viable solutions to keep costs down while maintaining high quality and patient satisfaction scores."
ACOs are groups of hospitals, physicians and other health care providers that join together to better coordinate care for their patients. The Next Generation ACO Model is different from other ACO models in that it requires health care providers to take on financial risk if they are unable to reduce the total cost of care for their patients while also improving quality and patient satisfaction.
Revere Health also participates in similar programs with many commercial payers and implements the same quality and cost-savings efforts for all its patients.
About Revere Health
Revere Health is the largest independent multispecialty physician group in Utah and employs nearly 400 physicians and advanced care practitioners. Founded in 1969, Revere Health has grown to include more than 100 clinics in both urban and rural areas throughout Utah and Nevada. Revere Health providers offer complete health care at every stage of life with multiple family practice locations and 29 medical specialties. As the first Accountable Care Organization accredited by Medicare in Utah, Revere Health is a leader in value-based care and offers a unique, patient-oriented approach to health care.
SOURCE Revere Health