Bethesda, Md. – Aledade, Inc., a national leader in Accountable Care Organizations (ACOs), announced today that its primary care ACO network has doubled in size, solidifying its position at the vanguard of the massive shift to value-based reimbursement in health care. Aledade ACOs now include over 200 independent, physician-led practices who together are providing high-quality, coordinated care across 15 states, representing more than 200,000 covered lives and nearly $2 billion in health care spending.
“Aledade’s growth in such a short amount of time demonstrates that there is a real thirst for a new model of primary care, one that empowers physicians to succeed,” said Dr. Farzad Mostashari, CEO and co-founder of Aledade. “As we enter this next phase of growth, we will look for more opportunities for Aledade to enter new markets through public as well as private payers and partnerships that help our doctors deliver better outcomes, boost quality, and lower costs.”
Over the past year, Aledade has grown tremendously, expanding its existing ACOs, adding new markets, and taking responsibility for new patient populations. Aledade has added ACOs in four new states for the 2017 ACO program year: Michigan, Missouri, Pennsylvania, and Utah. The company has also moved beyond Medicare, signing agreements with four private payers to provide coordinated care. Aledade now has commercial agreements with Blue Cross Blue Shield of Kansas, Blue Cross Blue Shield of Louisiana, Florida Blue, and West Virginia Public Employees Insurance Agency.
Aledade’s growth is supported by funding from venture capital firms Venrock, ARCH Venture Partners, and Biomatics Capital. In addition, the company has attracted world-class talent to its ranks, hiring Daniel J. Krifcher, the company’s first chief commercial officer, to manage new partnerships and value-based arrangements across the country, and Molly Hill Patten, vice president of finance and operations, to manage accounting and finance, risk management, and human resources.
“After building a robust foundation in Medicare Shared Savings Programs across the country, we are now broadening our reach with new partnerships that enable independent primary care practices to take advantage of value-based opportunities with payers that have previously only been available to large physician networks and hospital providers,” said Daniel J. Krifcher, chief commercial officer at Aledade. “Aledade believes primary care is the foundation of an effective health care system, and we’re excited for our independent physician partners to be at the forefront of scaling high quality care across multiple patient populations and insurers.”
Aledade offers a new model of primary care by partnering with physicians to build and lead ACOs – networks of doctors who band together to deliver coordinated care to patients. The Aledade model operates under a payment structure that rewards physicians for delivering positive health outcomes, rather than for the volume of health care services delivered. Aledade ACOs allow doctors to stay independent, practice medicine like they’ve always wanted to, and thrive by keeping people healthy.
Aledade provides doctors across the country with unmatched regulatory expertise; best practices from a national network of hundreds of primary care doctors; user-friendly technology and data analytics that provide visibility into the spectrum of care patients receive outside their office; and face-to-face practice support.
“Partnering in an Aledade ACO helped my practice implement the population health management tools needed to deliver high-quality, coordinated care. This partnership grants us comprehensive data that allows us to expand value-based care to both our Medicare and commercial patients, allowing us greater insight into their total health,” said Dr. Jen Brull, physician owner at Post Rock Family Practice and medical director for the Aledade Kansas ACO.
In addition to the company’s growth, Aledade has improved the quality of care for the individuals covered by Aledade’s practices. In 2015, the Aledade Primary Care ACO – with practices in Maryland, New York, and Arkansas – was in the 98th percentile of quality scores across all 327 ACOs that began in 2012 and 2014, and the Aledade Delaware ACO was in the 88th percentile. At the practice level, Aledade ACOs had a 251 percent average increase in preventive care visits and a 175 percent average increase in transitional care services in 2015. The ACOs also saw a decrease in emergency department visits, hospital utilization, and hospital readmission rates. Yet at the same time, Aledade ACOs had a $51,000 average increase in practice revenue.
Founded in 2014, Aledade offers a new model of primary care that puts physicians back where they should be: quarterbacking their patients’ health care. Aledade partners with primary care physicians to build and lead Accountable Care Organizations (ACOs) that allow these doctors to stay independent, practice medicine like they’ve always wanted to, and thrive financially by keeping people healthy. Aledade provides data analytics and user-friendly technology to help doctors provide more seamless care, unparalleled regulatory expertise, the best practices shared by a national network of hundreds of doctors, and face-to-face practice transformation support. Based in Bethesda, Md., Aledade is led by CEO and Co-founder Dr. Farzad Mostashari, former National Coordinator for Health Information Technology at the U.S. Department of Health and Human Services. Since its founding in 2014, Aledade has established successful organizations in New York, Delaware, Maryland, Arkansas, West Virginia, Tennessee, Mississippi, Florida, Louisiana, Virginia, Kansas, Michigan, Utah, Missouri, and Pennsylvania that care for more than 200,000 patients.
At the heart of the Aledade model is the simple, but radical, idea that Aledade only succeeds when partner practices succeed in delivering better care at a lower cost. For more information, visit aledade.com. Aledade is a registered trademark of Aledade, Inc.
FOR IMMEDIATE RELEASE:
November 1, 2016
For more information regarding Aledade, contact:
Nick Samonas, [email protected]