Philadelphia-based Rothman Orthopaedic Institute reduced its expenses 11.3% in the first quarter compared to the same period in 2023.
The practice implemented cost-saving measures and streamlined operational processes to help achieve the expense reduction, according to a May 1 news release shared with Becker's.
"Over the past 12 months we made a number of difficult decisions to reduce corporate services and executive management while redirecting resources towards investments in patient care and technology," Rothman CEO Ed Tufaro said in the release. "These decisions have positioned us to continue to provide our communities with the high-quality orthopedic care they have come to expect from Rothman."
One aspect of Rothman's strategy is value-based care. In March, the practice extended its value-based care agreement with Independence Blue Cross. The partnership, which has been in place since 2018, helped Rothman lower clinically-related costs by more than $3,000 per case, reduce hospital admissions by 38% and reduce emergency department visits by 29%.