Aetna, Banner score $5M in federal Shared Savings program
Leaders at Aetna (NYSE:AET) and Banner Health Network (BHN) report they have received some $5 million in Medicare Shared Savings funding for their successful accountable care collaboration in 2013, reports Heraldonline.com.
Aetna, through its Whole Health fully-insured commercial plan, partnered with BHN to form an accountable care organization (ACO) that managed to improve cancer screening rates and blood sugar management in diabetic members and reduced avoidable hospital admissions by nine percent, the companies reported.
Other results included reductions in radiology services of approximately nine percent and increases in generic prescribing by almost 4 percent. The results help substantiate the success of accountable care models, with care coordination and data analytics playing a key role, reports Heraldonline.com.
Aetna and BHN began their accountable care collaboration in 2011 and the tools and learning from this relationship supported BHN's Medicare Pioneer Accountable Care Organization (ACO) model in 2012. In addition, Aetna's care management and technologies support BHN in delivering patient-centered, accountable care to its Pioneer Medicare beneficiaries as well as Banner Health employees in seven states, the article notes.
Aetna is far from the only health insurer to reap such sucesss. In a recent study conducted by ORC International, 64 percent of payers report they are on pace with the transition to value-based reimbursement, FierceHealthPayer previously reported.
- read the entire article
Aetna's shuttering of CarePass: Why the sky's not falling for mHealth, yet
Aetna to close down its CarePass mobile platform
Top 10 insurers in the Part D arena: UnitedHealth at the top