April 17, 2024- Bethesda, Md.-based Aledade became the nation’s largest network of independent primary care practices in early 2023. The networked commercial healthcare provider (CHP) claims more than 2 million patients through over 150 value-based contracts by Medicare, Medicare Advantage, Medicaid and commercial payors, and networks over 1,500 independent primary care practices, close to 60 health centers and more than 5,000 physicians and 15,000 clinicians in 45 states and Washington, D.C.
Public benefit corporation
It is a public benefit corporation (PBC) founded in 2014 and works with primary care providers to build tech-enabled accountable care organizations (ACOs). For-profit PBCs adopt a public benefit purpose and must consider the non-financial interests of its shareholders and other stakeholders when making decisions. They must weigh their social and environmental objectives alongside maximizing value for shareholders, while detailing how well they are achieving their overall public benefit objectives.
Aledade CEO Dr. Farzad Mostashari said the corporate structure of a PBC is well-suited to mission-oriented companies where alignment with stakeholders is a key driver of the business model. Aledade represents 50% of the ACOs and 73% of patients in the top 10 ACOs in the Medicare Shared Savings Program (MSSP) by savings rate, and practices in Aledade ACOs earned $294 per Medicare beneficiary, which is almost double the average of $140 per Medicare beneficiary across the MSSP.
Regionally, practices in Georgia working with Aledade performed above the national average in depression follow-up, blood pressure control, falls screening, colorectal cancer screenings and Statin therapy. In Mississippi, practices working with Aledade led the nation in providing Annual Wellness Visits to their patients, and Arkansas, Michigan and Utah MSSP Enhanced ACOs provided care to the most patients of any ACO in the top 10 of MSSP ACOs.
Read More in the latest issue of Repertoire Magazine.