The health system has already seen success in the VBC area, saving millions since 2018 through the Medicare shared savings program and Minnesota Integrated Health Partnership.
“Nearly 40% of our revenue now flows through value-based programs, with approximately 80% of these contracts involving downside risk,” Traci Morris, CFO of Essentia Health, told Becker’s.
To ensure continued capitalizing on the opportunity, Essentia’s care models aim to reflect a broader healthcare transition away from volume-based payments toward models that focus on overall value and patient outcomes
“This approach not only enhances patient satisfaction and outcomes, but also ensures sustainable financial performance,” Ms. Morris said.
Essentia Health comprises 14 hospitals, six long-term care facilities, 78 clinics, six assisted-living and independent-living facilities, 27 retail pharmacies, one research institute and seven ambulance services. The system has more than 15,000 employees, according to its website.
