New Affordable Care Act tools and payment models deliver
(ENGLEWOOD, COLO.)The Centers for Medicare & Medicaid Services (CMS) today issued quality and financial performance results showing that Medicare Accountable Care Organizations (ACOs) have improved patient care and produced hundreds of millions of dollars in savings for the program.
In addition to providing more Americans with access to quality, affordable health care, the Affordable Care Act encourages doctors, hospitals and other health care providers to work together to better coordinate care and keep people healthy rather than treat them when they are sick, which also helps to reduce health care costs. ACOs are one example of the innovative ways to improve care and reduce costs. In an ACO, providers who join these groups become eligible to share savings with Medicare when they deliver that care more efficiently.
ACOs in the Medicare Shared Savings Program (Shared Savings Program) and Pioneer ACO Model generated over $372 million in total program savings for Medicare ACOs. The encouraging news comes from preliminary quality and financial results from the second year of performance for 23 Pioneer ACOs, and final results from the first year of performance for 220 Shared Savings Program ACOs.
Meanwhile, the ACOs outperformed published benchmarks for quality and patient experience last year and improved significantly on almost all measures of quality and patient experience this year. (Please see the accompanying fact sheet for additional details.)
We all have a stake in improving the quality of care we receive, while spending our dollars more wisely, Health and Human Services Secretary Sylvia M. Burwell said. Its good for businesses, for our middle class, and for our country's global competitiveness. Thats why at HHS we are committed to partnering across sectors to make progress.
In addition to those ACOs that generated savings, some ACOs had assigned beneficiary expenditures that were either greater than or less than their updated benchmark, but that fell within their minimum savings rate or minimum loss rate (under Track 2). This means that they did not earn a performance payment and do not owe CMS losses.
The health care landscape is rapidly changing and we are leading significant efforts to deliver optimal health care value through effective population health management, said Steve Milligan, MD, Colorado Accountable Care medical director. We are committed to partnering with our patients through enhanced services that support care coordination and to provide resources that support healthy lifestyles.
Since passage of the Affordable Care Act, more than 360 Medicare ACOs have been established in 47 states, serving over 5.6 million Americans with Medicare. Medicare ACOs are groups of providers and suppliers of services that work together to coordinate care for the Medicare fee-for-service (FFS) beneficiaries they serve and achieve program goals.
Visit the Medicare Shared Savings Program website to learn more about the program, and for information on ACOs and ACO participants including available financial and quality performance results for ACOs.
- HHS Press Release: New Affordable Care Act tools and payment models deliver $372 million in savings, improve care
- Fact Sheet: Medicare ACOs continue to succeed in improving care, lowering cost growth
- Fact Sheet: Delivering Better Care at Lower Cost
- Secretarys Blog: Getting More Out of Every Dollar: Improving Health Delivery in America
About Centura Health
Centura Health connects individuals, families and neighborhoods across Colorado and western Kansas with more than 6,000 physicians and 17,100 of the best hearts and minds in health care. Through our 15 hospitals, six senior living communities, health neighborhoods, physician practices and clinics, home care and hospice services, and Flight For Life Colorado, we are making the regions best health care accessible and affordable in every community we serve. We believe you can inspire the people you care about to live healthier lives by encouraging them to do the little things that can make a big difference. Were Centura Health, and were here for your health. For information on Centura Health or any of the facilities in our network, please visit Centura Healthwebsite.