Aledade, a healthcare startup co-founded by CEO Farzad Mostashari, MD, in 2014, has grown to become the largest network of independent primary care practices in the country and was recntly valued at $3.5 billion.
In 2022, practices in Aledade's network brought healthcare spending $572 million below CMS' targets and is expected to have earned more than $204 million in shared savings payments from the Medicare Shared Savings Program.
The company also had the most successful accountable care organizations in the U.S., according to a Sept. 20 news release. When it came to the top 10 ACOs in the MSSP program by savings rate, Aledade represented 50 percent of the ACOs and 73 percent of the patients.
Practices in Aledade ACOs earned $294 per Medicare beneficiary — roughly double the average hospital-led ACO savings of $140 per Medicare beneficiary across the MSSP program, according to the company.
"The landscape of value-based care continues to evolve, but one thing has remained constant: physician-led value-based care is good for patients, practices and the communities they serve," Dr. Mostashari, MD, said.
Aledade helps physicians transform their practices to take advantage of new payment models as healthcare continues its shift from fee for service to value-based care. The company has grown rapidly in recent years, partnering with hundreds of practices that provide care for more than 2 million patients across more than 45 states and the District of Columbia, according to its website.
The company started out as an early participant in value-based care experiments by Medicare but has since signed agreements with large commercial payers as well, including Elevance Health, Humana and Cigna, according to Bloomberg. Aledade's network covers more than 2 million patients and manages more than $20 billion in annual health spending.