![]() As of the transaction’s closing, Steward’s equity holders owned 41% of CareMax’s common stock. Steward also developed a value-based care and chronic disease management platform that it sold to CareMax (NASDAQ: CMAX) last year for $25 million in cash and 23.5 million CareMax shares. “It demonstrates how the industry can successfully shift toward a more cost-effective, local, and coordinated approach that puts patients first.” “Our physician-driven, accountable care model focused on keeping patients healthy is completely transforming the health care industry,” Steward CEO and Chairman Ralph De La Torre said in a statement. The health system reportedly generated more than $68 million in cost savings for Medicare that year. The company also operates a large ACO that in 2020 received the second highest payout among 513 participants in the Medicare Shared Savings Program (MSSP), according to CMS. All told, the company covers close to 1.5 million full-risk beneficiaries through its managed care and health insurance services. Steward Health Care, an integrated health system, has extensive relationships with commercial, Medicare Advantage and risk-based Medicaid organizations across every state in its footprint. Centers for Medicare & Medicaid Services (CMS) indicated in 2021 that it wants to align 100% of Medicare beneficiaries with a value-based or accountable care payment system, a change to which health care providers of all stripes will have to adapt. Medicare Advantage and Accountable Care Organizations (ACO) are making big inroads in the home health and palliative care markets, and hospice continues to inch in that direction. The role that AccentCare plays in our health care system is vital, and I look forward to working with the 30,000 compassionate AccentCare professionals across the nation to meet the country’s growing post-acute care needs.Value-based reimbursement is a rising tide, particularly for AccentCare’s diverse business lines. “For patients, family members, referring clinicians and health systems, it can be difficult to find a clinical partner in post-acute care. I keenly understand the importance of high-quality post-acute care services in my role helping lead one of the nation’s largest health systems,” Tortorella said in a press release. “I am honored and thrilled to join AccentCare. The company also includes a medical group, urgent care centers and Steward Health Choice, a managed risk insurance platform that covers 680,000 beneficiaries in three states. Steward Health Care is an integrated health system that operates 33 community hospitals across nine states, with more than 30,000 employees. She previously served as the company’s executive vice president of operations, as well as other leadership positions. Tortorella, his successor, has been COO at Steward Health Care since November of 2020. “Actually taking over hospital-based assets, transforming those assets and creating the partnerships are transforming marketplaces for us - and are creating the right level and kind of partnerships.” “Our focus right now and where we’re seeing the majority of our activity is continuing expansion over joint venture strategy,” Rodgers said. The company operates more than 260 locations in 31 states, caring for 210,000 patients and families annually.ĪccentCare has been focused on growth in recent years, with joint ventures with health system and physician groups as a key driver, Rodgers told Hospice News in January. AccentCare announced the news early Thursday evening.ĭallas-headquartered AccentCare is a portfolio company of the private equity firm Advent International, offering hospice, palliative care, personal care, non-medical services, home health, care management and high-acuity home care. Hospice News heard rumors about a CEO change early on Thursday but was unable to independently confirm the details, but the change was reported by another health care newsroom. ![]() Looking back to where we started and seeing where we stand now, I am incredibly proud of what we accomplished, and I look forward to working with Laura as she assumes the role of CEO.” “During that time, the organization has experienced growth through the expansion of existing services into new markets, creation of joint ventures with leading health systems, acquisitions and mergers and the addition of new care offerings. “I have had the honor of working with an incredible team at AccentCare for more than a decade,” Rodgers said in a statement.
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