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Formerly U.S. Medical Management, the home-based care company HarmonyCare raised $200 million in June. On Wednesday, it touted its success in the Accountable Care Organization (ACO) “REACH” Model, the successor to the The Global and Professional Direct Contracting Models (GPDC).
Put forth by the Centers for Medicare & Medicaid Services (CMS), ACO REACH gives private businesses – including home-based care providers – the opportunity to participate in risk-sharing agreements with traditional Medicare.
In 2023, HarmonyCares achieved a net savings rate of 23% in the “High Needs Track” of ACO REACH. That savings rate positions the company as the second-best cost saver involved in the model, according to the company.