As 2022 gets underway, this is the perfect time to reflect on the highlights of last year. Our clients continued to do amazing work through the second year of the coronavirus pandemic. Even with consistent stresses on health care providers and the challenges of making the vaccine accessible, there was plenty of good news to celebrate throughout the year. This blog looks back at what we were most proud of in 2021.
Early in the year, we introduced Caravan Coach, our innovative technology platform that eases and streamlines all aspects of population health for your ACO. Our clients rely on this set of tools to manage all aspects of their ACO program, including getting the most out of the 340B drug discount program.
In 2021, we made huge strides on our 340B offerings. More than 90% of Caravan clients are safety net facilities eligible to participate in the 340B drug discount program. For those not familiar, we wrote about the top five things to know about 340B. The program grew throughout the year, and we announced support beyond Medicare in an addition to the 340B line of service later in the year.
In June, our founder Lynn Barr was appointed to MedPAC. This is a very busy time for this high-profile Commission which advises Congress about Medicare payment policies. Lynn’s expertise in rural health and value-based payment have been invaluable to discussions and policy recommendations.
2021 was another active year in Medicare policy. ACOs are still managing through the COVID public health emergency and facing a major overhaul in how quality measures are reported. Caravan submitted comments on the 2022 Medicare Physician Fee Schedule, getting our voice heard on these important matters, as well as benchmarking changes and health equity. We were glad to see the quality overhaul delayed a bit further in the final 2022 PFS, along with a few changes making ACO participation easier.
Perhaps the best news of 2021 was learning of the amazing results that our ACOs achieved in 2020. Our ACOs earned $68 million in shared savings - the highest ever for the company. This news reinforced that our collaborative approach is the key to excellent and consistent financial results. All of our collaborative ACO participants brought home shared savings from their work in 2020.
In October, Caravan introduced our ACO Playbook featuring spotlight stories from dozens of clients excelling in population health work. This popular product will get updated as new client success stories are featured in our weekly Digest.
Lastly, we can’t forget that this was the first year of our podcast “Health Care by the Numbers.” This new project exceeded our expectations, and quickly became a leading podcast for listeners to learn the latest innovations in value-based care and population health. Our first season focused on health care industry leaders, starting with a conversation with Lynn Barr. Our second season featured our clients throughout the country, first up was a conversation with Amy McDaniel, CEO at Iowa Specialty Hospitals and Clinics and Steve Barnett, President and CEO at McKenzie Health System, about the ACO Investment Model. The third season, still underway, shines a light on Caravan Health experts who make the company run. We kicked off this season by hearing from our Senior VP for Practice Transformation Nicole Banister.
Thanks to all of you for partnering with Caravan as we look forward to an outstanding 2022. Register here for the 2022 Accountable Care Symposium in San Diego, CA.