Transitioning to value-based care is at the center of most private equity cardiology groups’ strategies, and a recently-announced alliance between Cardiovascular Associates of America (CVAUSA) and InnovaCare Health is aiming to create a new model for cardiology + primary care VBC delivery.
The alliance involves three key stakeholders…
- InnovaCare Health – Florida-based integrated care provider with a big focus on VBC
- Family Care Partners – Jacksonville-based primary care physician group, owned by InnovaCare
- First Coast Heart and Vascular Centers – Jacksonville-based cardiology group, owned by CVAUSA
The three groups will focus on “improving care quality and reducing total costs” for Family Care Partners’ patients through…
- More proactive and efficient management of chronic cardiovascular diseases
- Improving access to timely cardiovascular care
- Improving co-management of shared patients
- And hopefully reducing hospitalizations and emergency room visits, and shifting care to the “lowest cost sites”
Although this is a “first-of-its-kind” alliance in cardiology, some might have seen it coming given the massive costs associated with low-value cardiovascular care, the benefits of improving cardiology/primary care collaboration, and the emphasis CVAUSA has placed on VBC.
- In fact, this alliance is directly tied to CVAUSA’s acquisition of VBC-focused cardiology practice NovoCardia in April, noting that NovoCardia now appears to be spearheading its VBC strategy and First Coast Heart and Vascular was previously one of NovoCardia’s practices.
Over $320B is spent on cardiovascular care in the US each year, leaving plenty of room for low-value care, and plenty of opportunities for improvements through VBC alliances like this.
Whether CVAUSA and InnovaCare significantly improve value at Family Care Partners remains to be seen, but at least for now CVUSA believes that this partnership will become a model for how cardiovascular and primary care-focused VBC alliances can operate.
If it does prove successful, CVAUSA and InnovaCare have plenty of other Florida practices to expand to.