What’s the Diagnosis of the Problem for our Hospice and Palliative Care Movement
Dr. Ira Byock discusses the current state of the hospice industry and the need for major reforms. He emphasizes the importance of acknowledging...
1 min read
In this episode of TCN Talks, Larry Preston, CEO and Co-founder of Silver State ACO, and Chris Comeaux discuss the journey and success of Silver State Accountable Care Organization (ACO).
Larry shares how they started in 2014 with the goal of reducing costs and improving the quality of care for Medicare patients for the state of Nevada. They focused on changing patient behavior and reducing hospital admissions, which accounted for 43% of their costs. Through partnerships with IT and data analytics companies, they were able to identify patients, provide timely information to healthcare providers, and track and influence their performance.
Silver State ACO is one of the few ACO’s in the country that has achieved savings for eight consecutive years. The conversation explores the challenges and strategies of (ACOs) in the healthcare industry including the nuts and bolts of how an ACO operates and how it’s economic model works.
Larry shares the financial risks and budgeting involved in ACOs. He emphasizes the importance of coordinating care and reducing costs while maintaining quality. Preston also highlights the need for ACOs to utilize analytics to improve patient care. The conversation concludes with a discussion on the potential partnership between ACOs and Hospice and Palliative Care organizations.
This is a great listen for staff, leaders, and boards of Hospice and Palliative Care organizations. Join us, this is timely and relevant.
Update -
Chris would like to correct something that was misinterpreted at time stamp 38:58. Hospice care billed to Medicare does count towards the total costs of care for ACO’s. We thank our listeners who followed up to ensure this was accurate and the way it was stated in the podcast was incorrect.
Our apologies, we value the trust placed in our podcast and thank you for bringing this to our attention. We re-verified with Larry Preston as well as reached out to a trusted ACO source hence this correction.
Guest
Larry Preston
CEO and Co-founder of Silver State ACO
Biography
TCNtalks Host
Chris Comeaux
President & CEO
Teleios Collaborative Network
Quote in podcast
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