Revere Health reduces Medicare spending by more than $7.2 million in 2021
Revere Health, the largest physician-owned network of multispecialty healthcare clinics in Utah, continued its strong track record of reducing healthcare spending by saving its Medicare patients more than $7.2 million in 2021. This is according to data recently released from the Centers for Medicare & Medicaid Services (CMS) for the 2021 performance year. See https://innovation.cms.gov/innovation-models/next-generation-aco-model for the detailed information from CMS, including the specific information about Revere Health's 2021 performance.
PROVO, Utah, Feb. 23, 2023 /PRNewswire-PRWeb/ -- Revere Health, the largest physician-owned network of multispecialty healthcare clinics in Utah, continued its strong track record of reducing healthcare spending by saving its Medicare patients more than $7.2 million in 2021. This is according to data recently released from the Centers for Medicare & Medicaid Services (CMS) for the 2021 performance year.
Revere Health participates in the federal government's Medicare initiative known as the Accountable Care Organization (ACO) Model and has achieved savings for seven consecutive years for its Medicare patients in Advance Payment Models (APM). ACOs are groups of hospitals, physicians, and other healthcare providers that join together to better coordinate care. Revere Health also works with many commercial payers and implements the same quality and cost-savings efforts for all its patients.
These savings are calculated based on the expected costs a patient would have incurred if the same care would have been provided by another health system in the state of Utah. Overall, Revere Health has achieved a total gross savings of approximately $73 million since 2015.
"Our consistency in attaining savings for seven consecutive years is a testament to our values, our approach to care, and our people," said Revere Health CEO Scott Barlow.
According to the ACO performance report for 2021, Revere Health ranked in the top 10 across participating ACOs in the following measures:
- Stewardship of Patient Resources
- Access to Specialists
- Shared Decision Making
As the first Accountable Care Organization accredited by Medicare in Utah, Revere Health is a leader in value-based care, which focuses on improving scientific measurements of health outcomes, improving the patient experience, and lowering overall costs care.
"The future of healthcare lies in value," Barlow said. "Value-based care allows us to save patients money and curb rising healthcare costs while at the same time provide high-quality, patient-centric care that results in the best outcomes."
Revere Health will participate in CMS's newly created ACO REACH program in 2023, which continues the journey of better care at lower costs and adds a focus on addressing health disparities among specific populations.
"By focusing on equity and social determinants of health as part of ACO REACH, we will further improve our ability to care for all patients and obtain a greater understanding of the hinderances that prevent patients from achieving optimal health," said Revere Health President and Cardiologist Scott Bingham, MD.
About Revere Health
Revere Health is the largest physician-owned network of multispecialty healthcare clinics in Utah and employs more than 200 physicians and 200 advanced practitioners across 30+ medical specialties. 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 healthcare at every stage of life and have a vested interest in keeping patients healthy, reducing costs, and acting as a true healthcare partners. Revere Health providers strive to offer compassionate, evidence-based care and keep the communities in which they live and practice healthy and thriving. Revere Health's mission of "your health above all else" is accomplished by delivering the right care at the right time in the right place.
Media Contact
Robert (Bob) Freeze, Revere Health, 1 18016875013, [email protected]
SOURCE Revere Health
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