LOUISVILLE, Ky.--(BUSINESS WIRE)--Kindred Healthcare, Inc. (“Kindred” or the “Company”) (NYSE:KND) today announced that it has signed an agreement to become a strategic partner and owner in the Silver State Accountable Care Organization, LLC (“Silver State”) in Las Vegas, Nevada.
Silver State was formed in 2013, and approved by the Centers for Medicare and Medicaid Services as a 2014 “shared savings” Accountable Care Organization (“ACO”) to serve the Medicare fee-for-service patients in Southern Nevada through a collaborative effort with independent doctors, physician groups, and affiliated healthcare providers to improve quality and to reduce the cost of care. Silver State has secured the participation of approximately 150 primary care physicians and other healthcare providers covering more than 10,000 lives. An ACO is formed by groups of doctors, hospitals, and other healthcare providers to deliver coordinated high-quality care to their Medicare patients. When an ACO succeeds both in delivering high-quality care and spending healthcare dollars more wisely, it can share in the savings it achieves for the Medicare program.
Silver State will partner with Kindred’s Care Management Division to more effectively manage the patients’ experience across the entire episode of care through a population health model. Kindred’s Care Management Division was created to improve care transitions and patient outcomes and to deliver integrated care across care settings and in patients’ homes.
Las Vegas is one of Kindred’s Integrated Care Markets with three Transitional Care Hospitals (certified as long-term acute care hospitals), one co-located hospital based Transitional Care Center (licensed for skilled nursing care), home health, hospice, and personal home care assistance services. Kindred is currently building a new Transitional Care Center in the Las Vegas market that is scheduled to open by the third quarter of 2015. These care settings will be an important part of Silver State’s network designed to provide integrated seamless care.
“Kindred’s partnership with the Silver State ACO represents an important step in our strategy to leverage our care management capabilities, and partner with primary care physicians to offer a full continuum of services in our Integrated Care Markets throughout the country,” said Paul J. Diaz, Chief Executive Officer of the Company. “This ACO experience will create value for patients and partner providers as the nation’s healthcare system continues to evolve and move from fee-for-service to pay-for-value.”
“Managing the full spectrum of healthcare needs for more than 10,000 patients throughout Southern Nevada will highlight the valuable role of Kindred’s Care Management Division,” stated Benjamin A. Breier, President and Chief Operating Officer of Kindred. “We look forward to participating in Silver State, and we are confident this collaboration will improve care outcomes and create wellness for this population.”
About Kindred Healthcare
Kindred Healthcare, Inc., a top-150 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $5 billion and approximately 63,000 employees in 47 states. At December 31, 2013, Kindred through its subsidiaries provided healthcare services in 2,280 locations, including 101 transitional care hospitals, five inpatient rehabilitation hospitals, 100 nursing centers, 22 sub-acute units, 159 Kindred at Home hospice, home health and non-medical home care locations, 104 inpatient rehabilitation units (hospital-based) and a contract rehabilitation services business, RehabCare, which served 1,789 non-affiliated facilities. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for six years in a row, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.