Humana Inc. (NYSE: HUM) today announced that it distributed more than $93.6 million to approximately 4,465-plus provider groups across the United States who participate in Humana's Provider Quality Rewards Program. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161116006150/en/
Humana Distributes More Than $93 Million in Quality Payments to Providers Nationwide (Graphic: Business Wire)
"This year's payments suggest that physicians who provide care in value-based relationships continue to experience success," said Chip Howard, Humana's Vice President of Payment Innovation in the Provider Development Center of Excellence. "Physicians participating in our value-based programs are making significant strides in improving their patients' health and care experience." Humana has paid physicians for quality care outcomes since 2012, reflecting the company's continued efforts to support physicians in their transition from fee-for-service to value-based reimbursement models. Approximately 63 percent of Humana individual Medicare Advantage members are affiliated with primary care physicians who are participating in value-based relationships. Humana's Provider Quality Rewards Program is part of the company's value-based initiative, which is focused on promoting evidence-based, high-quality care. The initiative recognizes physician group preparedness for value-based arrangements by offering several levels of participation through programs including Star Rewards, Model Practice, Medical Home and shared savings/full value programs for value-based care. "As the industry continues to shift toward value-based payment, programs such as these are proving that care tied to quality metrics can have a meaningful impact on a patient's health," said Dr. Roy Beveridge, Humana's Chief Medical Officer. "Physicians are benefitting, too, by being paid for the complex care they are delivering." Approximately 4,465 physician groups received payments from Humana in recognition of improved outcomes for Humana's Medicare members made during 2015. Reward settlement finalization takes place in 2016 for the 2015 Provider Quality Rewards Program to allow time for final claims and supplemental data submission.