Aetna, Riverside Health System Form Accountable Care Organization, Introduce New Products
Newport News, Va – Aetna (NYSE: AET) today announced an accountable care organization (ACO) collaboration with Riverside Health System. The agreement is Aetna’s third Accountable Care Solutions contract in Virginia. Now most of Aetna’s 500,000 Virginia members will have access to care through an accountable care model. ACOs are designed to improve quality and patient experience while reducing overall costs.
The agreement also provides Aetna Whole HealthSM, a new local option for health insurance purchasers. Aetna Whole Health plans will give members access to highly coordinated care from physicians and health care facilities.
Riverside Health System will introduce a new provider network known as Coastal Virginia Health Partners, which includes Bon Secours Health System, Children’s Hospital of The King’s Daughters and Chesapeake Regional Medical Center.
Aetna Whole Health plans feature a new model of health care delivery designed to offer:
- A more coordinated, personalized experience for patients;
- Lower co-pays for seeing providers that are part of the ACO network; and
- Better health care outcomes.
The incorporation of Riverside Coastal Virginia Health Partners will make these things possible in the local area.
"This is an exciting development for Aetna members in the coastal Virginia area," said Tom Grote, president of Aetna’s Virginia, Maryland and Washington, D.C. operations. "Working with health systems like Riverside, we’re redefining the relationship between insurers and providers. The end result will be better, more efficient and more affordable care."
"Riverside’s vision is to develop meaningful and trusting relationships with its patients and residents, enabling them to make value-based health care choices," said Bill Downey, president and CEO, Riverside Health System. "Riverside looks forward to connecting providers and patients who are willing and able to take responsibility for improving the health status, efficiency and experience of care with the Aetna members in the communities that we serve."
The Riverside contract continues Aetna’s development of accountable care arrangements in Virginia. Last year, Aetna announced a joint venture with Inova, which aligned two marquee organizations to provide more affordable, quality health care to Northern Virginia employers and residents. In 2011 Aetna and Carilion Clinic signed an agreement that brought an ACO approach to consumers in the Roanoke area.
Accountable care models drive focus on more coordinated care
ACOs are alliances of physicians, hospitals and other providers that coordinate care for their patients. In an ACO, providers assume responsibility for improving the quality of patient care and lowering costs through better coordination and preventive care. Aetna members in these plans will receive an enhanced level of coordinated care.
Aetna is working with health care organizations across the country to develop products and services that support value-driven, patient-centered care. Aetna’s solutions help all types of patients, regardless of payer. Information about Accountable Care Solutions from Aetna is available at www.aetnaacs.com.
Published: May 28, 2013