Transcript Generated by AI 00:01 Hey, 00:01 Mark Parkinson back with Park Place and very 00:03 excited today to announce a new sponsor, 00:05 Provider Partners. 00:07 Why am I so excited about this? 00:09 Well, 00:09 I've been running around the country for the last 10 years telling 00:12 people that the most important development in long-term care in my lifetime 00:17 is the growth of ISNPs and ACOs. 00:19 Why? 00:20 Because finally, 00:21 they give providers, 00:23 not just insurance companies, 00:24 they give providers the opportunity to participate in the savings that we get 00:29 when we do a great job of taking care of residents. 00:32 This completely aligns the residents' interests with ours. 00:36 It allows us to get financial rewards. 00:38 I've seen providers make money with this, 00:40 and I've also seen quality outcomes go through the roof. 00:43 It's a really great thing. 00:44 And so we finally have a 00:46 value-based care company that focuses on this, 00:49 that's our sponsor and provider partners, 00:51 and it's a really, 00:52 really good one. 00:52 They've been successful in getting 00:54 ACOs and ISNPs into 00:56 over 1000 buildings across the country, 00:58 and we're thrilled to have them on board. 01:00 So, 01:00 we've got Eric Palm with us today. 01:02 Eric is the chief growth Officer of Provider Partners. 01:05 Eric, 01:05 welcome to 01:06 Park Place and thank you very much for your sponsorship. 01:09 Thanks, 01:09 Mark. 01:10 I'm excited to be here. 01:12 You know, 01:12 Eric, 01:12 you've heard me talk about how for years, 01:14 it was just the primary care docs and the managed care companies that benefited 01:19 when, 01:20 you know, 01:21 improvement in care happened in nursing homes and the cost of care declined. 01:26 ISNPs and ACOs have really changed that. 01:28 Tell, 01:28 tell us how that paradigm has changed. 01:31 Yeah, 01:31 so the, 01:32 the ICSIP obviously puts the facility in the driver's seat 01:35 here to really perform well and maximize that opportunity, 01:39 but what's happened over the years is the other alternative models, 01:41 the ACL models that are out there, 01:43 haven't put the 01:44 Facilities in the driver's seat or put them, 01:46 giving them the financial incentive to participate 01:49 with their quality outcomes that they're doing every single day today. 01:53 So our mission as provider partners really is to put together a 01:56 value-based care ecosystem. 01:57 So whether it's an ISNP, 01:58 an ACL model, 02:00 or any of the future models that are going to be coming out, 02:02 we want to be that one-stop value-based care organization 02:05 for everybody 02:06 to participate in these models. 02:09 You know, 02:09 I've seen so many providers reduce costs because of quality improvements, 02:14 and the managed care companies or the primary 02:16 care doctors receive the benefit of it. 02:18 It's just great that there's finally a product 02:21 that allows the provider to share in that. 02:23 Eric, 02:23 how long has the INP product been around and how long has the ACO product been around, 02:28 and where do you see the future going with this? 02:31 Yeah, 02:31 so the iSimp has been a permanent solution for the last 1015 years. 02:36 So have other ACO models like an MSSP. 02:38 Unfortunately, 02:39 those models 02:41 are ever evolving and ever changing, 02:43 so the direction with CMS is clear. 02:45 Value-based care is here to stay. 02:47 Now, 02:47 when you look at the, 02:48 the model, 02:49 the reach model that we participate in today, 02:51 that has started years ago as direct contracting that 02:54 turned to reach and now turned to lead, 02:56 and so LED is going to be launching in 2027. 02:59 What's exciting is it's a 10-year model. 03:02 Um, 03:02 so while we 03:03 can move from reach to lead and obviously participate there, 03:06 we want to continue to incorporate the high needs population 03:09 into a future model. 03:11 Um. 03:12 So the future is bright here. 03:14 Yeah, 03:14 I mean, 03:14 obviously this is here to stay, 03:16 and I, 03:17 I wouldn't be surprised if at some point there was a mandate 03:19 that you had to have one of these products in your buildings. 03:22 Let's talk specifically about provider partners. 03:24 How long have you been around and how many buildings are you in? 03:27 Yeah, 03:27 so again, 03:28 we've been running the ISEP here for about 1, 03:30 12 years. 03:32 Um, 03:32 the R product was launched through CMMI in 2023, 03:36 so we are 03:37 one of the original 14 licenses. 03:39 Um, 03:39 we currently sit at about 900 facilities on the ACO side and on the ISEM side, 03:45 we sit 03:46 right around there as well. 03:47 So we're in about 1800 facilities across, 03:49 across the country. 03:51 So if, 03:52 if a building's in one of these programs, 03:53 what is the expected gain share? 03:55 Uh, 03:56 what, 03:56 what, 03:57 what can the provider actually get when they have an ACO in their buildings? 04:01 Yeah, 04:01 it's not unlikely you're not out of the, 04:03 it's not crazy if, 04:05 if a facility may be participating 04:07 in shared savings arrangements and receiving a six-figure check. 04:10 I mean, 04:10 when you're looking at 30, 04:11 40, 04:12 50 lives 04:13 in an ACO model 04:14 and you are really beating the benchmark that CMS sets, 04:17 I mean, 04:18 we have a lot of homes that are receiving six-figure checks 04:22 participating in the program. 04:23 That's. 04:25 What, 04:25 what about the impact On the resident, 04:26 what, 04:27 what, 04:27 what, 04:28 what do the programs do for the resident? 04:29 Yeah, 04:30 so when you talk about payment arrangements and the historicals like an ISA, 04:34 you're asking the resident to change their Medicare Advantage plan. 04:37 There's a lot of risk associated to that and it is a long process. 04:41 In the ACO space, 04:42 you're not asking the resident to change their coverage 04:45 or their networks or their providers. 04:47 Everything stays totally the same with the resident themselves. 04:51 Um, 04:52 the whole idea is that you just 04:53 reduce hospitalizations and transfers to the hospital, 04:56 um, 04:57 to ultimately save Medicare money. 05:00 And so what we've seen with the quality outcomes 05:02 is that in buildings that have these programs, 05:04 the care improves for the residents. 05:06 The re-hospitalizations decline. 05:08 The, 05:08 the patient care improves. 05:10 It's really a win-win both for 05:12 the patient and the providers. 05:14 Uh, 05:14 what does it cost a provider to get into the program? 05:17 Yeah, 05:17 so we act as a risk bearing entity 05:20 and so we take on all the burdens there. 05:22 So from the 05:23 physician side, 05:24 the facility side, 05:25 or the beneficiary resident side, 05:27 there's no cost associated. 05:29 The name of the game really is just to reduce spend against what CMS anticipates 05:34 that resident is going to cost. 05:36 That's great. 05:37 Well, 05:37 I think everybody can see why I'm so 05:39 excited about Provider Partners as our new sponsor. 05:42 They're offering a product that 05:44 makes you money 05:45 and improves patient care. 05:46 I mean, 05:47 it's the classic example of a win-win. 05:49 We're thrilled to be promoting the, 05:51 the ISNP and the ACO, 05:53 but we're also thrilled to have the expertise of the 05:55 folks at Provider Parts that will help us navigate. 05:58 The challenging value-based issues that SNCS will face in the future. 06:02 So thanks again to provider partners and thanks to all of 06:05 you for watching this and your continued support of Park Place.
