Hill Physicians Finishes 2012 with $11.8 Million in Net Income
Results Up Slightly from 2011
SAN RAMON, Calif., June 18, 2013 /PRNewswire/ -- Hill Physicians Medical Group released its 2012 annual report and financial results today, reporting more than $11.8 million in net income on $491 million in revenue. In 2011, Hill Physicians reported $11.6 million in net income and $480 million in revenue.
"We kept pace with a rapidly changing healthcare environment," said CEO Darryl Cardoza. "Our three, commercial ACO arrangements have led to improvements in overall performance, while also reducing the cost of care for the population as a whole, saving money for employers and consumers. It's clear that alignment works."
Hill Physicians participates in three accountable care arrangements that serve CalPERS in Sacramento, the University of California in San Francisco, and the Health Service System for the city and county of San Francisco. In an accountable care arrangement, the health plan, hospitals and medical group align their efforts more closely to improve performance, benefiting all concerned. This often involves a rapid exchange of information and increased outreach to the patient by the physician's practice or medical group.
Nearly 60,000 of Hill Physicians members are served through such arrangements, a dramatic change over the last three years. A fourth ACO-type agreement is expected to debut in San Joaquin County in 2013.
Part of the success of alignment comes from the use of appropriate incentives and a robust technical platform. In 2012, Hill Physicians paid over $44 million in performance compensation to physicians for improving efficiency and achieving quality-of-care metrics. Those incentives were operationally supported with an $11 million infrastructure investment that adds depth, detail and sophistication to the exchange of data and how it can be used to identify members who need more intensive support. And for the seventh year in a row, the California Association of Physician Groups gave its highest designation possible — Elite status — to Hill Physicians.
Hill Physicians' 2012 Annual Report and consolidated financial statements are posted at www.HillPhysicians.com/2012.
About Hill Physicians Medical Group
Hill Physicians Medical Group is the largest independent physician association in Northern California and a recognized leader in innovative healthcare. The Standards of Excellence Program of the California Association of Physician Groups recognizes Hill Physicians as a statewide leader in patient-centered care, care management practices, health information technology, accountability and transparency. Committed to serving healthy lifestyles, Hill Physicians Medical Group offers extensive health education services to its patients, including wellness classes, health screenings and self-help through its online information portal at www.HillPhysicians.com.
SOURCE Hill Physicians Medical Group
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