Physicians in Horizon Blue Cross Blue Shield of New Jersey's network achieved $94.9 million in value-based payments last year, up 43 percent from the year prior.
The number of physicians participating in Horizon's value-based model also increased from 2015 to 2016, up 10 percent. More than 4,500 primary care physicians and thousands of specialists received value-based payments in 2016.
Top performers, who tended to represent practices in value-based medicine the longest, saw up to a 42 percent lower rate of inpatient admissions and as much as 27 percent fewer emergency department visits.
"The results achieved by the practices with the longest commitment to patient-centered care are solid evidence that these models will deliver meaningful quality improvements and cost reductions in the long-run," said Allen Karp, senior vice president for healthcare management at Horizon.
Last year, 67 percent of Horizon's medical spending went toward some of its 1.5 million members covered under value-based models.
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