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Among the nation’s 453 ACOs, Providence’s Health Connect Partners generated the highest shared savings for Medicare in 2023 with $137 million saved through its senior program.
After accounting for shared savings and losses, 132 ACOs collectively generated nearly $695 million in net savings, according to CMS and the National Association of ACOs. In 2023, Medicare recorded its largest savings to date — $5.2 billion total, with $2.1 billion going to Medicare and $3.1 billion distributed as shared savings.
In 2022, Health Connect Partners also generated the most savings for Medicare compared to other shared savings ACOs, contributing to about $98 million that year.
Besides providing the largest Medicare savings from an ACO for two consecutive years, Renton, Wash.-based Providence also accomplished a 2% decrease in readmissions in 2023.
Deepak Sadagopan, CEO of Health Connect Partners and COO of population health at Providence, spoke with Becker’s about the ACO’s growth since 2014, value based care and the system’s payer-provider structure.