It was great to interact with many of you during our SPN Annual Dinner held on May 8th. We had a wonderful evening where our PCPs and Specialists got a chance to network with each other and our guests including, Dr. J. Stephen Jones, newly appointed CEO of Inova, Dr. Amy Nguyen Howell, CMO for America’s Physician Groups, and Dr. Sunil Budhrani, CMO/CMIO for Innovation Health.
It gives me great pleasure to announce that Signature Partners has earned a shared savings of approximately $1.3 million for 2017 (we are in the process of finalizing the exact earned amount). This payment is based on a total cost of care for our attributed patient population that decreased by 3.5% for 2017, compared to the “market trend” (non-Signature Partners) that went up by 3.3%.
Translated, this means we outperformed other non-Signature providers by 6.8%, which is phenomenal and a direct result of all of your hard work!! Thank you all for helping SPN achieve these great results! We are working with the Innovation Health team to calculate the bonus amounts for the individual providers, and hope to distribute those next month. Based on our board-approved shared savings allocation model for 2017, gain share payments will be made to the practices with 20 or more attributed Innovation Health members, and are based entirely on attribution, with no variance based on the quality metric performance.
For the 2018 performance year (distributions to be made in 2019), quality performance will be factored in as well, which means in order to be eligible for 100% of our shared savings we will have to meet targets for eight quality metrics as a network and as a practice. Measurements of the metrics will be aggregated at the POD level, so all providers with a POD will achieve the same quality score. These quality metrics, along with the various cost savings opportunities, are reviewed during the POD meetings with the practice leaders, which are held quarterly. I strongly encourage a physician leader from your practice to join these meetings to learn all about our payor programs, quality metrics/targets, cost and utilization trends, and to meet your peers to learn best practices for performance improvement.
What can you do to maximize your bonus in 2018?
- Make sure you attend SPN POD meetings to review your quality, utilization and “gap reports” on a quarterly basis.
- Refer high risk patients to our care management program.
- If not on an EMR, or unhappy with you current EMR, contact Signature Partners to discuss implementing AthenaOne.
- Maximize our gain share amount by keeping total cost of care down:
- Educate your patients to avoid the ER except for true emergencies
- Provide same-day access for patients with urgent matters
- For any patient that is hospitalized, follow-up with them in your office within 2 – 5 days of discharge
- Prescribe lower cost generic medications when possible
- Avoid unnecessary testing, imaging and specialty referrals
Thank you again for your participation in Signature Partners, and congratulations for earning this payment for 2017. We look forward to working with you to more successes like this.
Matthew Poffenroth, MD, MBA
CEO/CMO, Signature Partners