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Ochsner Health Network leads the way in value-based care

Ochsner Health Network (OHN), the Gulf South’s largest clinically integrated network (CIN) and nationally recognized leader in value-based care, has…

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Ochsner Health Network (OHN), the Gulf South’s largest clinically integrated network (CIN) and nationally recognized leader in value-based care, has released its 2021-2022 Impact Report.

Credit: Ochsner Health

Ochsner Health Network (OHN), the Gulf South’s largest clinically integrated network (CIN) and nationally recognized leader in value-based care, has released its 2021-2022 Impact Report.

“This report is a culmination of the accomplishments and efforts of our network of physicians and healthcare partners to extend high-quality, value-based care to patients and communities along the Gulf Coast,” said OHN Chief Executive Officer Eric Gallagher. The report demonstrates the profound impact the network has made upon:

  • Patients – contributing to more than 400,000 healthier lives throughout Louisiana, Mississippi and Texas
  • Physicians – supporting more than 3,500 physicians with clinical, contracting, population health, and technology resources
  • Employers – improving workforce health and productivity while saving healthcare dollars for more than 2,600 companies
  • Payers – driving plan value through highly reliable, evidenced-based care delivery, improved outcomes, and cost efficiencies

OHN’s population health efforts bring together more than 5,500 physicians and healthcare providers to improve care quality and patient outcomes and improve healthcare efficiency.

“Through industry-leading care management programs, powerful data and analytics tools, and evidence-based protocols, we are equipping partner physicians and their care teams to create better patient outcomes and experiences at a lower cost,” said OHN Chief Medical Officer Beau Raymond, MD.

The last two years have delivered unprecedented challenges to the healthcare community, from delays in care due to COVID-19 to skyrocketing healthcare costs. Despite these headwinds, Ochsner Health Network and its partners have achieved meaningful results, both clinically and financially. The network also partners with payers and employers who value quality care as much as they do.

“OHN takes an individualized approach with each payer by offering both value-based agreements and network products that deliver high quality outcomes for patients at a lower cost. As a result, OHN is able to deliver a better patient experience and continued growth and success for our partners,” said Jeff Fernandez, Senior Vice President, Population Health and Chief Executive Officer, Ochsner Health Plan. “Since January 2021, our administrative services only (ASO) products have gained over 12,000 beneficiaries. We’ve also added more than 22,000 beneficiaries to our Medicare Shared Savings Program in the same timeframe.”

The network’s latest impact report highlights its patient population growth, participating physician growth, and employer contract growth over the last two years. It also explores quality performance metrics on populations managed at OHN, with a focus on chronic conditions such as hypertension and Type 2 diabetes, as well as preventative care efforts, such as cancer screenings.

OHN Growth

  • In 2021, OHN welcomed 700 new physicians, and in early 2022, welcomed three new health systems: Titus Regional Medical Center in Texas and Singing River Health System and Ochsner Rush Health in Mississippi.
  • In 2021, Ochsner expanded its integrated post-acute network, adding skilled nursing facilities, home health agencies and inpatient rehab facilities throughout Louisiana and into the Mississippi Gulf Coast. This high-performing post-acute network ensures that patients living in communities across Louisiana and southern Mississippi have access to high-quality coordinated care after discharge. The integrated network improves health outcomes and reduces costs after hospitalization by reducing readmissions helping patients and families navigate the continuum of care.
  • In 2021, OHN drove a 4% increase in covered lives.
  • From 2019 to 2021, OHN drove a 10% increase in physician growth.
  • Over 2,670 employers partnered with OHN in 2021 to provide care for their employees. These employers have chosen to offer preferential benefits to their employees who use OHN because it delivers the best possible outcomes at a better cost for their businesses.
  • Employer and payer relationships also played a key role in OHN expansion. Loyola University New Orleans and the Archdiocese of New Orleans chose OHN as their network of choice, bringing an additional 5,800 patients into the network and enabling these organizations to improve employee health outcomes while reducing care costs for both members and their businesses.

Population Health

  • In 2021, OHN achieved Tier 5 status in Blue Cross and Blue Shield of Louisiana’s (Blue Cross) Quality Blue program. The insurer’s population health and quality improvement program is designed to optimize care delivery for patients who live with chronic conditions. OHN achieved the top-tier ranking based on its performance relative to chronic disease care goals. It earned high scores across categories, including Hypertension, Optimal Diabetes Care, Optimal Vascular Care, and Optimal Chronic Kidney Disease Care.
  • Within OHN’s commercial population, it scored 20 out of 20 possible points (Tier 5) for Optimal Diabetes Care as well as Optimal Chronic Kidney Disease Care.
  • In the Blue Advantage population, OHN scored 20 out of 20 possible points (Tier 5) for Hypertension, Optimal Diabetes Care, and Optimal Vascular Care as well as perfect five out of five scores for hypertension, diabetes, and cholesterol medication adherence.

“Six years since its founding, Ochsner Health Network’s vision remains steadfast – bringing like-minded physicians together to strengthen communities and inspire patients to live healthier lives by providing the right care in the right place at the right time,” said OHN CEO Eric Gallagher. “Through OHN, patients’ healthcare dollars go further, their health information is streamlined among their providers, and they gain access to a wealth of preventive, diagnostic, treatment-related and wellness-promoting resources. “

To learn more about the Ochsner Health Network, visit: https://www.ochsner.org/lo/ochsner-health-network

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About Ochsner Health Network

A leader in innovative healthcare delivery, Ochsner Health Network (OHN) comprises leading health systems, partner physician groups and affiliated community providers across the greater Gulf South region. OHN is the largest and most advanced clinically integrated network (CIN) in the region and brings select health providers together to improve quality and reduce costs. The nearly 3,500 primary care and specialty care physicians participating in OHN are focused on sharing knowledge, resources, processes and technology to: improve healthcare quality and patient outcomes; center the care delivery model around the patient; develop better coverage solutions for employers and patients; and improve efficiency, thereby reducing the total cost of care.


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Key shipping company files for Chapter 11 bankruptcy

The Illinois-based general freight trucking company filed for Chapter 11 bankruptcy to reorganize.

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The U.S. trucking industry has had a difficult beginning of the year for 2024 with several logistics companies filing for bankruptcy to seek either a Chapter 7 liquidation or Chapter 11 reorganization.

The Covid-19 pandemic caused a lot of supply chain issues for logistics companies and also created a shortage of truck drivers as many left the business for other occupations. Shipping companies, in the meantime, have had extreme difficulty recruiting new drivers for thousands of unfilled jobs.

Related: Tesla rival’s filing reveals Chapter 11 bankruptcy is possible

Freight forwarder company Boateng Logistics joined a growing list of shipping companies that permanently shuttered their businesses as the firm on Feb. 22 filed for Chapter 7 bankruptcy with plans to liquidate.

The Carlsbad, Calif., logistics company filed its petition in the U.S. Bankruptcy Court for the Southern District of California listing assets up to $50,000 and and $1 million to $10 million in liabilities. Court papers said it owed millions of dollars in liabilities to trucking, logistics and factoring companies. The company filed bankruptcy before any creditors could take legal action.

Lawsuits force companies to liquidate in bankruptcy

Lawsuits, however, can force companies to file bankruptcy, which was the case for J.J. & Sons Logistics of Clint, Texas, which on Jan. 22 filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the Western District of Texas. The company filed bankruptcy four days before the scheduled start of a trial for a wrongful death lawsuit filed by the family of a former company truck driver who had died from drowning in 2016.

California-based logistics company Wise Choice Trans Corp. shut down operations and filed for Chapter 7 liquidation on Jan. 4 in the U.S. Bankruptcy Court for the Northern District of California, listing $1 million to $10 million in assets and liabilities.

The Hayward, Calif., third-party logistics company, founded in 2009, provided final mile, less-than-truckload and full truckload services, as well as warehouse and fulfillment services in the San Francisco Bay Area.

The Chapter 7 filing also implemented an automatic stay against all legal proceedings, as the company listed its involvement in four legal actions that were ongoing or concluded. Court papers reportedly did not list amounts for damages.

In some cases, debtors don't have to take a drastic action, such as a liquidation, and can instead file a Chapter 11 reorganization.

Truck shipping products.

Shutterstock

Nationwide Cargo seeks to reorganize its business

Nationwide Cargo Inc., a general freight trucking company that also hauls fresh produce and meat, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Illinois with plans to reorganize its business.

The East Dundee, Ill., shipping company listed $1 million to $10 million in assets and $10 million to $50 million in liabilities in its petition and said funds will not be available to pay unsecured creditors. The company operates with 183 trucks and 171 drivers, FreightWaves reported.

Nationwide Cargo's three largest secured creditors in the petition were Equify Financial LLC (owed about $3.5 million,) Commercial Credit Group (owed about $1.8 million) and Continental Bank NA (owed about $676,000.)

The shipping company reported gross revenue of about $34 million in 2022 and about $40 million in 2023.  From Jan. 1 until its petition date, the company generated $9.3 million in gross revenue.

Related: Veteran fund manager picks favorite stocks for 2024

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Key shipping company files Chapter 11 bankruptcy

The Illinois-based general freight trucking company filed for Chapter 11 bankruptcy to reorganize.

Published

on

The U.S. trucking industry has had a difficult beginning of the year for 2024 with several logistics companies filing for bankruptcy to seek either a Chapter 7 liquidation or Chapter 11 reorganization.

The Covid-19 pandemic caused a lot of supply chain issues for logistics companies and also created a shortage of truck drivers as many left the business for other occupations. Shipping companies, in the meantime, have had extreme difficulty recruiting new drivers for thousands of unfilled jobs.

Related: Tesla rival’s filing reveals Chapter 11 bankruptcy is possible

Freight forwarder company Boateng Logistics joined a growing list of shipping companies that permanently shuttered their businesses as the firm on Feb. 22 filed for Chapter 7 bankruptcy with plans to liquidate.

The Carlsbad, Calif., logistics company filed its petition in the U.S. Bankruptcy Court for the Southern District of California listing assets up to $50,000 and and $1 million to $10 million in liabilities. Court papers said it owed millions of dollars in liabilities to trucking, logistics and factoring companies. The company filed bankruptcy before any creditors could take legal action.

Lawsuits force companies to liquidate in bankruptcy

Lawsuits, however, can force companies to file bankruptcy, which was the case for J.J. & Sons Logistics of Clint, Texas, which on Jan. 22 filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the Western District of Texas. The company filed bankruptcy four days before the scheduled start of a trial for a wrongful death lawsuit filed by the family of a former company truck driver who had died from drowning in 2016.

California-based logistics company Wise Choice Trans Corp. shut down operations and filed for Chapter 7 liquidation on Jan. 4 in the U.S. Bankruptcy Court for the Northern District of California, listing $1 million to $10 million in assets and liabilities.

The Hayward, Calif., third-party logistics company, founded in 2009, provided final mile, less-than-truckload and full truckload services, as well as warehouse and fulfillment services in the San Francisco Bay Area.

The Chapter 7 filing also implemented an automatic stay against all legal proceedings, as the company listed its involvement in four legal actions that were ongoing or concluded. Court papers reportedly did not list amounts for damages.

In some cases, debtors don't have to take a drastic action, such as a liquidation, and can instead file a Chapter 11 reorganization.

Truck shipping products.

Shutterstock

Nationwide Cargo seeks to reorganize its business

Nationwide Cargo Inc., a general freight trucking company that also hauls fresh produce and meat, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Illinois with plans to reorganize its business.

The East Dundee, Ill., shipping company listed $1 million to $10 million in assets and $10 million to $50 million in liabilities in its petition and said funds will not be available to pay unsecured creditors. The company operates with 183 trucks and 171 drivers, FreightWaves reported.

Nationwide Cargo's three largest secured creditors in the petition were Equify Financial LLC (owed about $3.5 million,) Commercial Credit Group (owed about $1.8 million) and Continental Bank NA (owed about $676,000.)

The shipping company reported gross revenue of about $34 million in 2022 and about $40 million in 2023.  From Jan. 1 until its petition date, the company generated $9.3 million in gross revenue.

Related: Veteran fund manager picks favorite stocks for 2024

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Tight inventory and frustrated buyers challenge agents in Virginia

With inventory a little more than half of what it was pre-pandemic, agents are struggling to find homes for clients in Virginia.

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No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers.

“I think people are getting used to the interest rates where they are now, but there is just a huge lack of inventory,” said Chelsea Newcomb, a RE/MAX Realty Specialists agent based in Charlottesville. “I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% interest rate — it’s just a little bit harder to find something.”

Newcomb said that interest rates and higher prices, which have risen by more than $100,000 since March 2020, according to data from Altos Research, have caused her clients to be pickier when selecting a home.

“When rates and prices were lower, people were more willing to compromise,” Newcomb said.

Out in Wise, Virginia, near the westernmost tip of the state, RE/MAX Cavaliers agent Brett Tiller and his clients are also struggling to find suitable properties.

“The thing that really stands out, especially compared to two years ago, is the lack of quality listings,” Tiller said. “The slightly more upscale single-family listings for move-up buyers with children looking for their forever home just aren’t coming on the market right now, and demand is still very high.”

Statewide, Virginia had a 90-day average of 8,068 active single-family listings as of March 8, 2024, down from 14,471 single-family listings in early March 2020 at the onset of the COVID-19 pandemic, according to Altos Research. That represents a decrease of 44%.

Virginia-Inventory-Line-Chart-Virginia-90-day-Single-Family

In Newcomb’s base metro area of Charlottesville, there were an average of only 277 active single-family listings during the same recent 90-day period, compared to 892 at the onset of the pandemic. In Wise County, there were only 56 listings.

Due to the demand from move-up buyers in Tiller’s area, the average days on market for homes with a median price of roughly $190,000 was just 17 days as of early March 2024.

“For the right home, which is rare to find right now, we are still seeing multiple offers,” Tiller said. “The demand is the same right now as it was during the heart of the pandemic.”

According to Tiller, the tight inventory has caused homebuyers to spend up to six months searching for their new property, roughly double the time it took prior to the pandemic.

For Matt Salway in the Virginia Beach metro area, the tight inventory conditions are creating a rather hot market.

“Depending on where you are in the area, your listing could have 15 offers in two days,” the agent for Iron Valley Real Estate Hampton Roads | Virginia Beach said. “It has been crazy competition for most of Virginia Beach, and Norfolk is pretty hot too, especially for anything under $400,000.”

According to Altos Research, the Virginia Beach-Norfolk-Newport News housing market had a seven-day average Market Action Index score of 52.44 as of March 14, making it the seventh hottest housing market in the country. Altos considers any Market Action Index score above 30 to be indicative of a seller’s market.

Virginia-Beach-Metro-Area-Market-Action-Index-Line-Chart-Virginia-Beach-Norfolk-Newport-News-VA-NC-90-day-Single-Family

Further up the coastline on the vacation destination of Chincoteague Island, Long & Foster agent Meghan O. Clarkson is also seeing a decent amount of competition despite higher prices and interest rates.

“People are taking their time to actually come see things now instead of buying site unseen, and occasionally we see some seller concessions, but the traffic and the demand is still there; you might just work a little longer with people because we don’t have anything for sale,” Clarkson said.

“I’m busy and constantly have appointments, but the underlying frenzy from the height of the pandemic has gone away, but I think it is because we have just gotten used to it.”

While much of the demand that Clarkson’s market faces is for vacation homes and from retirees looking for a scenic spot to retire, a large portion of the demand in Salway’s market comes from military personnel and civilians working under government contracts.

“We have over a dozen military bases here, plus a bunch of shipyards, so the closer you get to all of those bases, the easier it is to sell a home and the faster the sale happens,” Salway said.

Due to this, Salway said that existing-home inventory typically does not come on the market unless an employment contract ends or the owner is reassigned to a different base, which is currently contributing to the tight inventory situation in his market.

Things are a bit different for Tiller and Newcomb, who are seeing a decent number of buyers from other, more expensive parts of the state.

“One of the crazy things about Louisa and Goochland, which are kind of like suburbs on the western side of Richmond, is that they are growing like crazy,” Newcomb said. “A lot of people are coming in from Northern Virginia because they can work remotely now.”

With a Market Action Index score of 50, it is easy to see why people are leaving the Washington-Arlington-Alexandria market for the Charlottesville market, which has an index score of 41.

In addition, the 90-day average median list price in Charlottesville is $585,000 compared to $729,900 in the D.C. area, which Newcomb said is also luring many Virginia homebuyers to move further south.

Median-Price-D.C.-vs.-Charlottesville-Line-Chart-90-day-Single-Family

“They are very accustomed to higher prices, so they are super impressed with the prices we offer here in the central Virginia area,” Newcomb said.

For local buyers, Newcomb said this means they are frequently being outbid or outpriced.

“A couple who is local to the area and has been here their whole life, they are just now starting to get their mind wrapped around the fact that you can’t get a house for $200,000 anymore,” Newcomb said.

As the year heads closer to spring, triggering the start of the prime homebuying season, agents in Virginia feel optimistic about the market.

“We are seeing seasonal trends like we did up through 2019,” Clarkson said. “The market kind of soft launched around President’s Day and it is still building, but I expect it to pick right back up and be in full swing by Easter like it always used to.”

But while they are confident in demand, questions still remain about whether there will be enough inventory to support even more homebuyers entering the market.

“I have a lot of buyers starting to come off the sidelines, but in my office, I also have a lot of people who are going to list their house in the next two to three weeks now that the weather is starting to break,” Newcomb said. “I think we are going to have a good spring and summer.”

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