PROVO, Utah – August 30, 2018 – Since 2015, Revere Health has generated over $30 million in savings for patients in the Medicare Shared Savings Program (MSSP), a program for Accountable Care Organizations (ACOs) that incentivizes quality improvements and cost savings. Out of 472 ACOs in the country participating in the program in 2017, Revere Health is one of only 10 percent that have achieved savings for three consecutive years.
“This shows what we are doing is working,” said Revere Health CEO Scott Barlow. “Our efforts are improving the health outcomes of our patients and reversing the trend of rising health care costs, while simultaneously improving quality and patient satisfaction.”
Centers for Medicare and Medicaid Services (CMS) results for the 2017 performance year, released today, show that Revere Health was again the only ACO in Utah to achieve shared savings.
Revere Health’s overall savings rate in 2017 was 5.2 percent at $8.11 million, putting it in the top 20 percent of ACOs that achieved savings. Revere Health’s quality score in 2017 was 96.2 percent.
Quality scores for ACOs in their initial performance year are measured by their ability to report certain quality metrics. Quality scores for ACOs in renewal agreements are measured by their ability to not only report but also show that their performance met or exceeded quality benchmarks. Revere Health scored the highest performance-based quality score in Utah and ranked 12th in the nation.
These results demonstrate Revere Health’s commitment to value-based care, a strategy to transform the way patients receive and pay for healthcare in the U.S. Because Revere Health exceeded the required thresholds in both cost and quality, the organization is eligible to share in the savings generated for Medicare.
“The healthcare industry is going through rapid transformation, and Revere Health has been at the forefront of those changes singes we began our value-based care journey over a decade ago,” said Barlow.
ACOs are groups of hospitals, physicians and other healthcare providers that join together to better coordinate care for their patients. Revere Health’s $30 million in savings reflects objective, measurable success among Medicare beneficiaries, but the organization also participates in similar programs with many commercial payers, and is implementing the same quality and cost-savings efforts for all patients through its value-based care initiatives.
About Revere Health
Revere Health is the largest independent multispecialty physician group in Utah and employs over 180 physicians and 130 advanced practitioners. Founded in 1960, 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 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 healthcare.