Signify Health Issues Quality and Social Impact Report

Rhea-AI Summary

Signify Health (NYSE: SGFY) has published its 2021 Quality and Social Impact Report, outlining its commitment to environmental, social, and corporate governance (ESG) initiatives aimed at creating value for stakeholders. The report highlights the company's achievements, including surpassing national quality measures in Medicare’s Bundled Payments for Care Improvement Advanced Program, connecting over 260,000 individuals to healthcare services addressing social determinants of health, and fostering sustainable practices in its workplaces. Signify aims to enhance healthcare outcomes efficiently through data-driven approaches.

Positive

• Surpassed national quality measures in Medicare's Bundled Payments program.
• Connected over 260,000 individuals to services addressing social determinants of health.
• Initiatives launched to reduce energy use and carbon footprint.

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• None.

Establishes framework for reporting on environmental, social and corporate governance initiatives focused on driving value for shareholders and stakeholders across healthcare

DALLAS & NEW YORK--(BUSINESS WIRE)-- Signify Health, Inc. [NYSE: SGFY], a leading healthcare platform that leverages advanced analytics, technology and nationwide healthcare networks to create and power value-based payment programs, today announced the publication of its 2021 Quality and Social Impact Report. Building from a Statement of Purpose issued by Signify’s Board of Directors in late 2021, the report offers a framework for how the Company will measure its performance on key environmental, social and corporate governance issues, in addition to healthcare quality measures, in alignment with its vision and values.

“Signify exists to give providers, payors and the people they serve the information, tools and support needed to achieve the best possible health outcomes — and to do so efficiently and cost-effectively. This report is an important way for us to tangibly demonstrate how we live our commitment in all that we do,” said Kyle Armbrester, Signify Health CEO. “I am proud of the impact we are making on the millions of people we serve and look forward to collaborating with our customers and partners to unlock opportunities to build a better healthcare system and experience for all.”

The report includes key accomplishments from 2021 and establishes a baseline from which the Company will measure progress in several areas of focus. Among them:

• Leading with quality. Signify conducts evidence-based assessments to support providers in achieving quality outcomes and in 2021, outperformed national averages for several quality measures within Medicare’s Bundled Payments for Care Improvement Advanced Program (BPCI-A). These quality measures include: AHRQ Patient Safety Indicator (PSI 90); Advance Care Planning; Excess Days in Acute Care after Hospitalization for Acute Myocardial Infarction; and, Perioperative Care: Selection of Prophylactic Antibiotics. Additionally, the Company reported low double digit percentage reductions in 90-day hospital readmissions among BPCI-A and ACO patients participating in its Transition-To-Home program. Also in 2021, the National Committee for Quality Assurance (NCQA) validated the methodology Signify uses to identify members eligible to receive specific diagnostic and preventive services during a Signify in-home evaluation.
• Managing social determinants of health (SDOH). Signify’s more than 600 social care coordinators screen individuals for social issues that affect their ability to access quality healthcare and achieve the best possible health outcome. As a result of these efforts, in 2021, Signify connected more than 260,000 people with services to address social determinants of health (SDOH) issues such as food insecurity, social isolation, and transportation.
• Building sustainable workplaces. To reduce energy use and emissions, the Company reported several initiatives to incorporate eco-friendly building materials in its Dallas, Oklahoma City and Rapid City offices. Additionally, Signify Health entered into a new partnership with Persefoni, a leading climate management and accounting platform, to evaluate opportunities to reduce the carbon footprint of the Company’s operations and to provide more thorough measurement of climate-related data beginning in 2022.
• Diversity & Inclusion. Signify implemented a range of initiatives to identify and fill gaps in representation at all levels. Additionally, Signify initiated strategic partnerships with P-Tech.org and Catalyst.org to support mentorships and internships for students from diverse backgrounds and to build workplaces that work for women.

To learn more about Signify Health and the initiatives it is undertaking to lead the industry forward and drive quality and social impact, view the report here.

About Signify Health

Signify Health is a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. Our mission is to transform how care is paid for and delivered so that people can enjoy more healthy, happy days at home. Our solutions support value-based payment programs by aligning financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings. Through our platform, we coordinate what we believe is a holistic suite of clinical, social, and behavioral services to address an individual’s healthcare needs and prevent adverse events that drive excess cost, all while shifting services towards the home.

Safe Harbor Statement

This release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies, anticipated trends in our business, and our plan to drive better patient outcomes. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements are set forth in “Risk Factors” in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which are available free of charge on the SEC's website at: www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the publication date of this release. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220414005288/en/

Lynn Shepherd, VP of Strategic Communications, lshepherd@signifyhealth.com

Source: Signify Health

FAQ

What are the key initiatives highlighted in Signify Health's 2021 report?

Signify Health's 2021 report highlights initiatives in quality healthcare measures, addressing social determinants of health, and sustainability efforts.

How did Signify Health perform in Medicare's quality measures in 2021?

In 2021, Signify Health outperformed national averages for several quality measures within Medicare's Bundled Payments program.

What is the significance of the 2021 Quality and Social Impact Report for SGFY?

The report establishes a framework for measuring the company's performance on ESG issues and reinforces its commitment to driving healthcare value.

How many people did Signify Health connect with services for social issues in 2021?

Signify Health connected over 260,000 individuals with services addressing issues like food insecurity and social isolation in 2021.

What partnerships has Signify Health formed to enhance its sustainability efforts?

Signify Health has partnered with Persefoni to evaluate and reduce its carbon footprint, enhancing sustainability in its operations.