LOS ANGELES, June 24, 2021 (Newswire.com) - Aledade, Inc. and the Cooperative of American Physicians, Inc. (CAP), a leading provider of medical professional liability protection in California, today announced a new collaboration designed to support CAP member physicians in the transition to value-based care. Aledade's physician-led accountable care organization (ACO) model and support services will be offered to CAP's more than 12,000 members through CAPAdvantage, CAP's suite of no-cost or discounted practice management programs to help physicians run their most successful practice.
"As a physician-owned organization, CAP has demonstrated its commitment to helping California physicians access the resources necessary to thrive during a transformational time in health care, and our new joint effort will ensure that they can continue to do so as our system shifts to value-based care," said Farzad Mostashari, MD, co-founder and CEO of Aledade. "We look forward to providing CAP members with the services and supports needed to achieve shared savings by delivering the best possible care to their patients."
CAP members enrolled in Aledade's ACO model will receive access to Aledade's comprehensive range of capabilities that include cutting-edge data analytics, user-friendly care management and outreach tools, unparalleled regulatory expertise, strong payer relationships, and local, hands-on support. Together, CAP and Aledade will also provide additional educational materials to CAP members to support them as they enter value-based contracts, including webinars, events, and articles.
"Understanding the ever-changing financial and regulatory issues physicians must navigate, CAP welcomes the opportunities that Aledade offers to help our members' practices increase revenue and improve patient outcomes," said CAP CEO Sarah Scher. "CAP and Aledade have a shared commitment to bolster the medical community's ability to provide excellent patient care while supporting the viability of independent physician practices. Aledade's proven value-based care programs and associated benefits present a number of solutions that can address new and ongoing challenges California physicians are experiencing."
Across the country, Aledade ACOs have reduced preventable hospital stays, emergency room visits, and unnecessary medical services, driving more than $400 million in health care cost reductions from 2014 to 2019. Aledade's collaboration with CAP represents the company's continued commitment to helping California physicians succeed in value-based care. Aledade provides practice transformation support services to physicians enrolled in Aledade's ACO network in the state.
As part of its mission to support California physicians with outstanding medical malpractice coverage and a wide array of supplemental risk management and practice management benefits, CAP identifies industry-leading vendors who are able to save medical practices time, money, and energy through the CAPAdvantage program.
Founded in 2014, Aledade partners with independent practices, health centers, and clinics to build and lead Accountable Care Organizations (ACOs) anchored in primary care. Through these practice networks, Aledade empowers physicians to stay independent, focus on their patients, and thrive financially by keeping people healthy. Aledade offers a comprehensive range of capabilities at scale, that includes cutting-edge data analytics, user-friendly guided workflows, unparalleled regulatory expertise, strong payer relationships, and local, hands-on support from attentive experts. Together with more than 7,800 participating providers in 31 states, Aledade shares in the risk and reward across dozens of value-based contracts representing more than 1 million patient lives under management. To learn more, visit www.aledade.com or follow on Twitter or Facebook.
The Cooperative of American Physicians, Inc. (CAP), established in 1975, provides medical professional liability coverage to some 12,000 of California's finest physicians through the Mutual Protection Trust. In 2013, CAP organized CAPAssurance, a Risk Purchasing Group, to offer liability insurance coverage to hospitals, healthcare facilities, and large medical groups. Based in Los Angeles, CAP also has offices in San Diego, Orange County, and Walnut Creek. For more information, visit www.CAPphysicians.com. CAP is licensed as a California surplus lines broker (License No. 0B72723). The insurance products provided under the CAPAssurance, a Risk Purchasing Group, program are issued by a "non-admitted" or "surplus line" insurer that is not licensed by the State of California.
For more information:
Cooperative of American Physicians
Ernest R. Khirallah