To our Stakeholders,
I am honored to share with you Signify Health’s inaugural Quality & Social Impact Report, which highlights our performance on a number of key quality indicators and summarizes our ongoing commitment to sound environmental, social and governance (ESG) practices.
2021 was a momentous year for Signify Health, from our successful Initial Public Offering (IPO) in February, the launch of new products such as Transition to Home and our partner program, to 27% increase in revenue and a 37% increase in adjusted EBITDA compared to 2020, to our Statement of Purpose and, now, the publication of our first Quality & Social Impact Report. As I reflect back, I could not be more proud of our Company, our people, and the progress we have made in such a short time.
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. Our purpose unites us, but we cannot move forward in a unified way within the fragmented, unconnected healthcare system that exists in the U.S. today.
The human and financial costs from our inefficient healthcare system are sobering. Americans spend more money per capita on healthcare than any other nation, yet we are seeing an overall reduction in life expectancy, and increasing rates of chronic disease and preventable hospitalizations. Those living in lower socioeconomic households and communities face substantially higher risks and a multitude of health challenges, with less access to the care and support needed to overcome them.
Signify believes the answer to achieving both health equity and financial sustainability is the same: Aligning care and services around value — driving the highest quality care for the lowest possible cost, and doing so in a way that delivers an excellent patient experience. The Centers for Medicare & Medicaid Services (CMS) has established critical imperatives to accelerate the transition to value-based care and to preserve the solvency of the Medicare Trust. Their strategy calls for improving health equity and having everyone in Medicare fee-for-service aligned to an accountable relationship by 2030.
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.Kyle Armbrester Chief Executive Officer
Signify is focused on helping build the infrastructure necessary to drive value consistently and equitably. We are doing this in two fundamental ways: Enabling people to do more in and around the home to manage their health and enabling providers to deliver high quality care and succeed in value-based contracts.
The coronavirus pandemic has proven the importance of being able to extend the reach of the care team into the home, where most of what determines health outcomes happens. This is something we and our partners have seen from conducting in-home health evaluations, which aim to provide a comprehensive view of a person’s well-being that encompasses functional, social, behavioral, and environmental factors, in addition to medical and clinical concerns. The data captured during these encounters can be leveraged to reduce health inequities and overcome common barriers to high quality healthcare such as transportation, housing, and food insecurity.
As we move forward in our work to support providers’ success in value-based care payment contracts, we will unlock new opportunities for them to improve quality of care by helping to activate the home to address the clinical, behavioral and social care needs of the people in their care.
Inclusion is a core value at Signify, and for good reason. One of the most important things we can do to build a successful, healthy organization is to have a workforce that reflects the diversity of the people we are privileged to serve every day.
Our Diversity & Inclusion (D&I) task force plays a central role in educating and enabling everyone across our organization to approach our work with understanding, compassion and empathy. D&I task force members are spearheading efforts to expand diversity training and education across our organization, while roundtable discussions and employee resource groups provide employees with additional opportunities to exchange perspectives, listen, and learn from one another.
Minimizing Signify’s environmental impact is key to achieving our vision of building a healthier place for people to live and age in. This report outlines important steps we have taken to minimize our environmental footprint, such as limiting the driving distance our clinicians travel between patient visits (a key source of carbon emissions) and reducing waste in our operations.
Thank you to our employees, clinicians, and partners for all that you do on behalf of the clients and millions of people we serve. By maintaining our commitment to high quality, value-based patient care, and striving for continuous improvement on key environmental, social, and governance issues, I am confident that we can grow our business while creating value for all of our stakeholders.
Kyle Armbrester
Chief Executive Officer