PROVO, Utah, Nov. 16, 2021 /PRNewswire-PRWeb/ -- Revere Health, the largest independent multispecialty physician group in Utah, reduced health care spending for its Medicare patients by more than $12 million in 2020 as part of its participation in the federal government's Medicare initiative known as the Accountable Care Organization (ACO) Model. This is according to data recently released from the Centers for Medicare & Medicaid Services (CMS) for the 2020 performance year.
2020 was the sixth consecutive performance year that Revere Health has achieved savings for its Medicare patients in Advance Payment Models (APM). Over that span, Revere Health has averaged savings of approximately $11 million per year for its Medicare patients from 2015 to 2020. Revere Health is a part of the Next Generation ACO Model that is reserved for ACOs with experience in coordinating care for patient populations and that are willing to assume the highest levels of risk and reward among Medicare's shared savings initiatives.
"The results we achieved in 2020 are highly impressive given the impact of the COVID-19 pandemic," said Revere Health CEO Scott Barlow. "By quickly pivoting and remaining true to our mission, we continued to serve patients and provide the high-quality, low-cost care that is our hallmark despite the worldwide pandemic that impacted so many healthcare organizations."
Other highlights from the CMS 2020 Next Generation ACO performance report include:
- A per member per year savings of $776.79 relative to the expected cost if the patient was seen by any other provider in Utah.
- A 5.8% reduction in anticipated costs of care.
- A savings increase of more than $7 million compared to 2019.
Overall, Revere Health has achieved a total gross savings of approximately $66 million since 2015.
"As Utah's population continues to grow and change, we have a responsibility to ensure residents have access to affordable, quality healthcare," said Revere Health President and cardiologist Scott Bingham, MD. "Our commitment to value-based care remains steadfast, and the numbers show that we are meeting our objectives, even in the most difficult of times."
ACOs are groups of hospitals, physicians, and other healthcare providers that join together to better coordinate care for their patients. The Next Generation ACO Model, which requires healthcare providers to take on additional financial risk, will soon be retired by CMS, so Revere Health is actively pursuing other programs that will allow them to continue their mission to transform healthcare. Revere Health also works with many commercial payers and implements the same quality and cost-savings efforts for all its patients.
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.
About Revere Health
Revere Health is the largest independent multispecialty physician group in Utah and employs more than 200 physicians and 190 advanced 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 healthcare at every stage of life with multiple family practice locations and 30 medical specialties. 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 and lowering overall costs of care. Revere Health takes a unique, patient-oriented approach to healthcare.
Media Contact
Bob Freeze, Revere Health, 801.812.4519, [email protected]
SOURCE Revere Health
Share this article