A payor-provider healthcare collaboration in Maine is demonstrating it can save money and improve health outcomes, according to Healthcare Finance News.
In 2008, independent Portland-based NovaHealth partnered with Aetna to develop a pilot program for healthcare management and included 750 of Aetna's Medicare Advantage members.
The companies published the results of their collaboration and found, compared with the Centers for Medicare and Medicaid Services' market data, hospital admissions were 44.6 percent lower and hospital days were 50.1 percent lower.
The program's 30-day readmission rate was also 56 percent lower than the national average, and NovaHealth's per member per month costs were 16.5 percent to 33 percent lower than costs for non-Aetna members.
The two companies did not bring in new revenue from the partnership but achieved cost savings.
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In 2008, independent Portland-based NovaHealth partnered with Aetna to develop a pilot program for healthcare management and included 750 of Aetna's Medicare Advantage members.
The companies published the results of their collaboration and found, compared with the Centers for Medicare and Medicaid Services' market data, hospital admissions were 44.6 percent lower and hospital days were 50.1 percent lower.
The program's 30-day readmission rate was also 56 percent lower than the national average, and NovaHealth's per member per month costs were 16.5 percent to 33 percent lower than costs for non-Aetna members.
The two companies did not bring in new revenue from the partnership but achieved cost savings.
More Articles on Coding, Billing and Collections:
California Sues Plastic Surgeon for Aggressive Billing Tactics
Survey: 96% of Healthcare Officials Worried About ICD-10 Impact
5 Crucial Points on Moving Out-of-Network as an ASC