HealthTeamWorks’ Coaching Supports Cost Savings from Specialty Care

Transforming Clinical Practice Initiative (TPCi) was the first national initiative from Centers for Medicare and Medicaid Innovation (CMMI) that specifically supports specialists in practice transformation. In line with the quadruple aim of healthcare, TCPi had a significant impact on reducing total cost of care for consumers and total healthcare spending. 

HealthTeamWorks’ Practice Facilitator (PF) and Clinical Health Information Technology Advisor (CHITA), coached 16 specialty practices to identify a cost savings activity relevant for each practice. Since cost savings is a new(er) area of focus for specialists, HealthTeamWorks coaching supported practices to identify an area for cost savings, collect baseline data to demonstrate performance, pilot a cost saving strategy and collect follow-up data. With support from the Colorado Practice Transformation Network (PTN), the cost savings activities were extrapolated into annual monetary savings. Sample cost saving activities with extrapolated savings are below.

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While the range of cost savings is expansive across TCPi practices, practices were able to adopt strategies within their scope of practice and change capacity. Universally, all TCPi practices will continue their cost reduction activities as part of their standard of care and several practices began additional cost reduction activities at the conclusion of TCPi. As a result of HealthTeamWorks coaching support within one calendar year (2018-2019 alone), the 16 TCPi practices achieved a savings of $4,127,159.00.

More information on the Transforming Clinical Practice Initiative can be found under the following link: https://www.colorado.gov/pacific/healthinnovation/TCPI