Aledade gets high marks, savings from Medicare
Aledade Florida ACO, based in Orlando, succeeded in delivering better care at lower cost and earned $3.7 million in shared savings, according to data released by Medicare.
The group saved $7.7 million in Medicare costs in 2017 and earned a Medicare quality score of 99 percent, Medicare data show.
The Aledade Florida Accountable Care Organization also reduced hospitalizations by 9 percent, laboratory costs by 14 percent and unnecessary procedures by 7 percent.
“We are proud of the latest Medicare results, which reflect the hard work and quality care delivered by our national network of independent providers,” said Dr. Farzad Mostashari, founder and CEO of Aledade, in a news release. “There is no longer any question that physician-led, value-based care can cut costs through better care.”
An ACO generally includes a group of providers that come together to provide care to a patient population with the goal of improving the quality of care and lowering costs.
If the programs succeed, they’re rewarded by getting money back from the federal government. In other words, they share in the savings.
Aledade ACO was founded in 2014 by Mostashari, former National Coordinator for Health Information Technology at the U.S. Department of Health and Human Services.
The company offers independent practices data analytics, regulatory expertise, a better relationship with payers and hands-on support. It currently includes 300 independent physician practices, health centers and clinics in 20 ACOs in 18 states.
Aledade Florida ACO was one of six Aledade ACOs to earn shared savings payments from Medicare.
Overall, Aledade ACOs saved Medicare $40 million in 2017, according to a news release. Aledade ACOs earned sharing savings payments of more than $19 million. specializing in adolescent medicine and psychiatry with advanced depression treatments, has opened a second office in Lake Mary. His main office is in Orlando.
and have opened Dental Care at Avalon Park, a new dental office at Avalon Park.
“We are excited to be joining the Orlando community to offer high-quality dental services to families and individuals of all ages,” said Dr. Nguyen in a news release.
, a national hospital chain with facilities in Central Florida, has a new CEO.
Chairman and CEO Milton Johnson, who became CEO in 2014, will retire on Dec. 31 and the company’s current president and COO, Sam Hazen, will take the helm on Jan. 1.
“We have grown revenues from $34.2 billion in 2013 to $43.6 billion in 2017; invested approximately $13 billion in capital expenditures; returned more than $10 billion in cash to shareholders through share repurchases and dividends; and increased our stock price over 275 percent,” said Johnson, who has been with HCA for 36 years, in a news release.