Our Top 10 Key 2018 Achievements and What They Mean for VNSNY in 2019
VNSNY’s Path to Success: Paving the Way for a Successful 2019 and Beyond!
VNSNY’s three-year strategic plan covers 2019, 2020 and 2021. With input from across the organization, we’ve created a plan that moves us to a solid financial position by 2021. By accomplishing this and achieving financial sustainability, we will ensure the long-term stability of VNSNY so that we can continue to serve the people who depend on us every day.
As 2019 gets underway, we are set up very well for success—because the numbers from 2018 indicate that this strategic plan is well on track!
“Thanks to the efforts of everyone who works here, we had a strong performance in 2018, including a bottom line result that was better than budget. Yes, we still lost money, but we lost less than anticipated,” says President and CEO Marki Flannery. “Building on these results, we’re off to a terrific start in 2019. In January, CHOICE MLTC has been enrolling members at double its normal rate while Hospice is reporting record growth. We’re also having good success hiring staff. Word is out that we are strengthening, and people are coming our way.”
Here are 10 key achievements that happened in 2018 and how they are setting up VNSNY for a strong performance in 2019 and beyond:
- CHHA and Hospice successfully transitioned to the HomeCare HomeBase
electronic medical records system.
What this means for VNSNY in 2019:
With the launch of HomeCare HomeBase, our main Provider Services systems are now off the mainframe and are cloud-based—which is not only technologically smart, but will also save us money. Furthermore, the HomeCare HomeBase system gives our staff better checks and balances and makes us a more efficient operation.
- VNSNY Hospice’s average daily census grew 6% for the year.
What this means for VNSNY in 2019:
This census growth in 2018 shows the impact of VNSNY Hospice’s efforts over the past year, including streamlining the hospice intake process, raising community awareness of hospice benefits and working effectively with eldercare facilities—all of which had a positive effect on growth. We now need to build on what is working, knowing that the stage is set for additional growth in 2019. In fact, VNSNY Hospice just hit a new record-high census of 1,186 patients in January of this year!
- Partners in Care successfully acquired and integrated the Prestige and All Seasons home care agencies.
What this means for VNSNY in 2019:
In acquiring Prestige and All Seasons, we gained over 1,000 home health aides, nurses and supervisors and added over 700 new clients—most of whom are members of New York’s Chinese-American community. We are now set up to serve this important population more effectively than any other licensed agency. (For more on the acquisition, see this related Frontline article.)
- VNSNY realized $4.3 million in revenue from value-based bonus awards.
What this means for VNSNY in 2019:
We proved to payers that we can provide high-quality, cost-effective care management services over an extended period of time, and at the same time, they paid us for delivering this value-added care. In 2019, we can point to these results as proof that “we can do it,” as we continue to build our value-based business and generate more and more revenue for VNSNY.
- The CHHA generated savings of $2 million through improved operating efficiencies.
What this means for VNSNY in 2019:
By standardizing best clinical practices according to evidence-based research and adhering closely to the clinical pathways designed by the CHHA’s clinical leadership, we achieved a more efficient utilization of care in 2018. Those efficiencies will lead to additional savings and further improvement in the CHHA’s bottom line in 2019, as we expand on these efforts.
- CHOICE enhanced its utilization and membership management processes to ensure that it is being reimbursed appropriately.
What this means for VNSNY in 2019:
By improving how it manages utilization of all benefits, especially home health aide/personal care assistant services, and managing its membership census, including its nursing home population, CHOICE was able to ensure it was reimbursed the appropriate amount of revenue from the New York State Department of Health in 2018. These improvements will contribute to CHOICE’s continued membership and revenue growth in 2019!
- CHOICE achieved $5 million in medical expense savings.
What this means for VNSNY in 2019:
By making sure that CHOICE pays at the level it’s supposed to pay—not more, and not less—we’re ensuring that as CHOICE grows its plans’ membership in 2019, it will continue to provide industry-leading healthcare coverage and care coordination in a financially sustainable fashion.
- CHOICE successfully shifted its product mix toward its most financially sustainable and effective plans.
What this means for VNSNY in 2019:
By moving away last year from its Medicare Advantage business, which had been losing approximately $30 million annually, CHOICE is now able to concentrate exclusively on its Managed Long Term Care (MLTC) and integrated MAP and FIDA Medicare-Medicaid products going forward. The result will be a significantly improved bottom line in 2019, and a strengthening of CHOICE’s commitment to providing effective long-term care coverage to New York’s Medicare and Medicaid population.
- CHOICE exceeded New York State Department of Health initial requirements for value-based purchasing.
What this means for VNSNY in 2019:
CHOICE has demonstrated its ability to transform and effectively meet the state’s initial requirements for partnering with providers who deliver value-based care to our plan members. This will be increasingly important as these requirements continue to ramp up over the next several years, and we continue work to improve quality and lower cost.
- CHOICE SelectHealth received a $5.7 million award for achieving 2017 quality metrics.
What this means for VNSNY in 2019:
Besides adding to revenues, this quality bonus award—the third consecutive one SelectHealth has received—underscores the consistently high-quality outcomes that SelectHealth achieves for its HIV-positive members. As SelectHealth prepares to expand into Nassau and Westchester later this year, these outstanding results will provide a strong incentive for new enrollments.
