Last Thursday, there was an announcement in Baltimore by the Governor about the new Medicare agreement for hospitals in Maryland to focus on population health. Hospitals will do this by preventing illness and keeping communities healthier while reducing costs and providing higher quality. Hospitals in Maryland will now work to care for patients in the most appropriate setting whether it's in a physician's office, a skilled nursing facility or an urgent care center. Sound familiar? This is value-based care delivery; something that WMHS and nine other Maryland hospitals have been doing for the last three plus years.
It's nice to have been an early adopter in this demonstration project. Based on our experience, we are now going to be assisting the Maryland Hospital Association and the other hospitals in Maryland by working with them on value-based care delivery, reducing the cost of care and working to improve the health status of our communities. In the first year of our demonstration project, the ten hospitals formed a Collaborative to learn from each other, share experiences, create a single set of metrics and to have a single voice for the Collaborative in Maryland. Some of the results and outcomes have been remarkable in what the ten hospitals of the Collaborative have achieved. These are exciting times at WMHS and across the Collaborative as a result.