The Garage's Commitment to Value-Based Care (VBC) Contributes to $178 Million in Gross Medicare Savings in 2020
Population health management technology company, The Garage, helped its healthcare partners achieve $177,789,838 in gross Medicare savings in 2020, the Florida-based company announced today.
In addition, The Garage's accountable care organization (ACO) partners using the company's Bridge platform received an average quality score of 97.64%, according to figures released by the Centers for Medicare and Medicaid Services (CMS).
The 2020 cost savings and quality score represent a significant increase from the previous year. More than 120 ACOs and independent physician associations (IPAs) and other value-based care providers across 30 states now use The Garage's Bridge population health management platform, representing about 18,000 providers.
ACOs are groups of doctors, hospitals, and other providers who come together to take accountability for the cost and quality of patients. They earn the right to share with Medicare savings generated if certain spending and quality metrics are met. The program is intended to encourage value-based care, where providers are reimbursed for the quality of services provided rather than just the quantity. Value-based care creates better health outcomes for patients, an improved care experience, and lower overall cost.
"As part of our overall strategy, implementing the Bridge platform has given our practices and providers the tools they need to drive results in value-based care," said Joe Taylor, Executive Director, Community Care Collaborative of PA & NJ. "As a result we saw savings of more than $11M and an improvement in quality - during COVID - that directly impacts patient lives and improves overall outcomes in our community."
The Garage has been working with ACOs since its inception in 2012. The platform, Bridge, is the leading Population Health Management system for value-based care that aggregates data across multiple sources to generate intelligence for its applications covering Advanced Analytics, Care Co-ordination and Management, Patient Engagement, Risk and Performance Management, Utilization Management, Revenue Optimization and many more.
In partnership with the value-based care providers we support, we have been building the Bridge platform into the most comprehensive and effective platform available for population health management," said Pranam Ben, CEO of the Garage. "We've grown our impact to more than 30 states, enabling exceptional quality care and contributing to more than $608 million in gross Medicare savings to date. We are committed to making value-based care the norm in the U.S. healthcare system, and our ACO partners are demonstrating the real-world impact technology can have in driving value for taxpayers, healthcare providers and patients."
About The Garage
Based in Orlando, Florida, The Garage is a population health management technology company dedicated to changing healthcare for good... one community at a time. The company works with more than 120 healthcare organizations and more than 18,000 providers across nearly 30 states. Through its collaborative population health management platform, Bridge, The Garage touches more than 14 million patient lives, allowing providers to achieve the Quadruple AIM of lower cost, better care, improved health and improved work life of healthcare providers. For more information, visit www.TheGarageIn.com.
Read the full article at https://www.businesswire.com/news/home/20211006005750/en/The-Garage-Scales-Services-Technology-and-Talent-to-Drive-Impact-in-Value-Based-Care
Tom Alexander, email@example.com,