What you should know:
– Aledade acquires Iris Healthcare, a provider of advanced healthcare planning solutions for tens of thousands of patients across the country. The financial details of the acquisition were not disclosed.
– As Aledade continues to grow exponentially, the company plans to integrate new patient care solutions to help expand the capabilities of its partners’ primary care practices.
When people face a serious illness, health care becomes central to their lives. In a crisis, every health care decision can have a significant impact. Iris believes that early care planning deserves the same level of consideration as buying a home, planning a wedding, or any other major life event.
Advance care planning solutions
Iris Healthcare is a scalable, customized virtual platform model specifically designed for comprehensive early care planning (ACP). Comprehensive ACP is a solid process designed to ensure that people receive medical care consistent with their values, goals, and preferences during a serious, chronic illness by formally documenting these wishes in an advance directive. Despite the solid literature showing that participation in an ACP program can help improve the patient health outcomes and therefore reduce the use of unnecessary care lowering costs, Medicare data report that only approximately 2.8 percent of the elderly end up having these discussions with their doctor.
The acquisition follows a successful pilot program completed by the companies, which showed better results, greater patient satisfaction and lower costs when using the Iris service, as well as significant improvements through the use of the predictive algorithm and the data from Aledade, helping to better identify patients who could benefit the most. of ACP.
Iris Healthcare becomes part of the new healthcare arm
By helping more patients to receive care consistent with their values, preferences, and best clinical evidence, Aledade’s first acquisition will increase Aledade’s support for its national network of more than 1,000 primary care practices. and independent health centers. As part of the transaction, Iris Healthcare will become part of Aledade Care Solutions, Aledade’s new healthcare services unit. This unit will offer Aledade practices new ways to improve patient outcomes and reduce costs by integrating new patient care solutions.
Impact of the acquisition
The acquisition of Iris Healthcare and the establishment of a new branch of healthcare are following significant growth for Aledade. The network of internships and health centers that work with Aledade now spans 37 states and has grown by 20 percent over the past year. Aledade’s value-based care contracts collectively cover more than 1.7 million patients and manage approximately $ 17 million in total health care spending through 98 Medicare contracts and 47 other value-based contracts. For the second year in a row, the company is profitable, with gross revenue of more than $ 300 million in 2021 and believes it is currently on track to more than double by 2023. Aledade, Aledade Care Solutions and Iris Healthcare are ready for steady growth in the coming years.
“Today, more than 1.7 million patients receive better primary care from their own GPs: more committed, more accessible and more empowered primary care,” said Farzad Mostashari, MD, CEO and co-founder of Aledade. . “We have seen the results, in reduced visits to the emergency department, hospitalizations and saved lives, when it is more profitable to prevent a stroke than to treat it. But there are more things we can do. With Aledade Care Solutions, we can now offer the first of a series of additional services that are more valuable to patients and families, and also more cost-effective, when offered in a value-based world through referrals from physicians. primary care that patients trust. Empowering and empowering primary care means expanding what primary care practices can do, and we are excited to begin this new chapter by welcoming Iris Healthcare to Aledade’s team. “