WakeMed Selects Evolent
WakeMed Health & Hospitals Selects Evolent Health to Enhance its Care Delivery Through Population Health and Financial Risk Management
RALEIGH, N.C. (January 16, 2014) - Evolent Health, a leading provider of transformation solutions to health care systems, today announced the formalization of a long-term operating partnership with WakeMed Health & Hospitals, a Raleigh, North Carolina-based not-for-profit hospital organization. Together, Evolent Health and WakeMed will work to deliver highly-coordinated, quality health care at a reasonable cost to North Carolinians through a newly formed Accountable Care Organization.
"We're excited to partner with Evolent Health to further our mission of providing outstanding and compassionate care to all who seek our services," said Michael DeVaughn, Executive Vice President, Finance and Chief Financial Officer of WakeMed. "Evolent will serve as a long-term operating partner in our population health efforts to improve access, enhance quality and reduce costs in our community and across the state of North Carolina."
"We've invested significantly in evolving our organization to provide effective, accessible health care long into the future. This move amplifies our recent strides, including partnering with Key Physicians toward WakeMed Key Community Care, an Accountable Care Organization participating in the Medicare Shared Savings Program. We chose Evolent as a partner due to its comprehensive clinical and financial platform, along with its track record of driving immediate and sustained results."
Under the multi-year agreement, Evolent will support WakeMed, along with Key IPA, in a physician-led effort to provide integrated, patient-centered care. Evolent will also support WakeMed's contracting efforts with insurers, to ensure alignment between payment models and quality, outcomes and satisfaction objectives.
"WakeMed is leading the shift to a new model of care in North Carolina," said Evolent Chief Executive Officer Frank Williams. "We admire their nimbleness in an era of rapid change, and are thrilled to support their efforts to deliver a superior experience to the patients and physicians they serve."
About WakeMed Health & Hospitals
WakeMed Health & Hospitals is a private, not-for-profit health care organization based in Raleigh, N.C. The 884-bed system comprises a network of health care facilities throughout Wake and Johnston Counties. Centers of excellence include cardiac and vascular care, women's and children's services, emergency and trauma, physical rehab and specialization in orthopaedics and neurosciences. Specialty facilities include the WakeMed Heart Center, Children's Hospital, Women's Pavilion and Birthplace, Rehabilitation Hospital, Adult and Children's Emergency Departments and a Level 1 Trauma Center. Locally based and community owned, WakeMed exists for the health of the community and is committed to a variety of health and wellness improvement programs. WakeMed's team of more than 8,300 employees, 1,500 volunteers, more than 1,200 affiliated physicians, and 255 physicians employed by WakeMed Physician Practices serve the residents of North Carolina using the most advanced technologies to ensure the finest in health care. For more information, visit www.wakemed.org.
About Evolent Health
Evolent Health partners with leading health systems to drive value-based care transformation. By providing clinical, analytical and financial capabilities, Evolent helps physicians and systems achieve superior quality and cost results. The Company's approach breaks down barriers, aligns incentives and powers a new model of care delivery resulting in meaningful alignment between providers, payers, physicians and patients. Evolent Health is a private, high-growth company headquartered in Arlington, VA. For more information, visit evolenthealth.com.
Additional Media Contacts
WakeMed Health & Hospitals
Debra Z. Laughery