PROVO, UT – November 13, 2017 – In 2016, Revere Health achieved over $8 million in savings for patients in the Medicare Shared Savings Program (MSSP) while maintaining a consistently high quality score. This is the second year in a row that Revere Health has achieved shared savings through the program, with over $20 million saved for 2015 and 2016 combined.
Centers for Medicare and Medicaid Services (CMS) recently released its results from 2016, showing that Revere Health was again the only Accountable Care Organization (ACO) in Utah to achieve shared savings.
Revere Health’s overall savings rate was 5.5 percent over its benchmark, placing it in the top 20 percent of ACOs in the country based on percentage of saving achieved.
These results demonstrate Revere Health’s ability to provide exceptional, high-quality care at a lower cost. Because Revere Health exceeded the required thresholds in both cost and quality, the organization is eligible to share in the savings generated for Medicare.
“Despite changes in the healthcare landscape and the increasing cost of health services,” said Revere Health Chief Medical Officer Steven Embley, DO, “we were still able to save millions on patient care without sacrificing quality.”
Value-based care programs encourage physicians and healthcare systems to provide high-quality care at a lower cost and reward healthcare providers for doing so. Programs like value-based care are part of a bigger strategy to transform the way patients receive and pay for healthcare in the U.S.
“The direction our industry is heading is unsustainable,” said Revere Health CEO Scott Barlow. “If we work together as healthcare providers to find new and innovative ways to save costs while still providing the best possible care, we have the ability to not only slow the trend of rising healthcare costs, but reverse it.”
Medicare ACOs are groups of hospitals, physicians and other healthcare providers that join together to better coordinate care for their Medicare patients. Revere Health’s $20 million in savings reflects measureable 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, Arizona and Nevada. Revere Health providers offer complete healthcare at any 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 offers a unique, patient-oriented approach to healthcare.