Ochsner Health Network Achieves Unprecedented Healthcare Savings in 2024
Ochsner Health Network Achieves Unprecedented Healthcare Savings in 2024
Ochsner Health Network, LLC (OHN), the largest physician-led integrated healthcare system in the Gulf South, has announced remarkable achievements in its 2023-2024 impact report. Serving over half a million patients in the region, OHN has successfully recorded an astounding $56.1 million in total savings for healthcare costs, particularly benefiting vulnerable populations within their communities.
The report highlights that OHN is committed to addressing the rising costs of healthcare while ensuring that high-quality care remains accessible. Eric Gallagher, CEO of Ochsner Health Network, stated, "Rising healthcare costs and access to high-quality care remain the biggest challenges in communities across our nation. We’re proud that this year's impact report demonstrates that when we remain focused on our patients, we break records across clinical, financial, and operational metrics."
One of the standout features of the report is the $160 million in total savings achieved through the Ochsner Accountable Care Network (OACN) since its inception in 2015. This accomplishment places the network in the top 11% among 450 accountable care organizations (ACOs) nationwide, showcasing their commitment to quality care.
The report extensively details various noteworthy achievements, including:
- - Increased Access to Care: The network’s focus on expanding care options has allowed for improved health equity across the Gulf South region.
- - Chronic Care Management: OHN has notably improved outcomes for patients dealing with chronic illnesses. For instance, 88% of patients with diabetes maintained HbA1c control, significantly surpassing national benchmarks, while 85% of hypertensive patients showed controlled blood pressure levels.
- - Cost-Effectiveness: By reducing Medicare Shared Savings Program patient care costs by over $30 million, the network achieved an 11% improvement from last year, underscoring its efficiency in managing care within budget constraints.
- - Value-Based Revenue: Participating physicians in OHN earned $18.6 million in value-based revenue, underlining the financial benefit of their shared savings contracts.
Additionally, OHN garnered $14.8 million in care management fees and ranked in the top 3% for access to care according to the Consumer Assessment of Healthcare Providers and Systems (CAHPS) Survey, which evaluates patient experiences with healthcare providers.
Sidney "Beau" Raymond, MD, the Chief Medical Officer, emphasized the pivotal role of physicians and advanced care providers in these achievements, stating, "Our annual impact report reflects the dedication of the physicians and advanced practice providers who make a difference in our communities every day. We expanded access to care, improved health outcomes, and enhanced the patient experience, all while achieving significant cost savings."
Dr. Mike Hill, Chief Medical Officer of St. Tammany Health System, added, "Ochsner Health Network has a long track record for evolving with market needs. They empower clinicians by providing essential tools, data, and support necessary to thrive in today's high-pressure healthcare environment."
In summary, Ochsner Health Network’s impact report stands as a testament to their innovative approaches to healthcare, marking a significant step forward in their efforts to reduce costs while enhancing quality care for all patients. For more detailed insights, the full report is available at Ochsner Health Network.
Topics Health）
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