ACOs participating in the Medicare Shared Savings Program in 2020 earned performance bonuses totaling nearly $2.3 billion and saved Medicare a record $1.9 billion, CMS said Aug. 25. CMS said 345 out of 513 ACOs, or 67 percent, earned shared savings payments in 2020, but the data shows that ACOs participating in downside risk models were more…
DOWNLOAD SLIDES Learn about the types of analytics available in post-acute healthcare and how they’re being used by ACOs to: Build and sustain high-performing SNF networks Prevent hospital readmissions and adverse events Reduce total cost of care and Earn more shared savings Speaker: Janine Savage, RN, CHC Vice President, Product Management, Analytics and Business Intelligence…
The Medicare Shared Savings Program collectively saved Medicare $4.1 billion last year and $1.9 billion after accounting for shared savings payments. It is the highest annual savings to date for the accountable care organization model that served 10.6 million seniors in 2020. The accountable care organizations had an average quality score of 97.8% and 60…
New bipartisan House legislation aims to boost the amount of shared savings that accountable care organizations can receive from the federal government to halt a slide in participation that has occurred over the past two years. The Value in Health Care Act reintroduced on Tuesday includes new requirements to study health outcomes for Medicare beneficiaries…
Value-based care (VBC) is a crucial step towards improving access, equity, and quality healthcare for Americans. Since the inception of Blue Cross Blue Shield in the 1930s, the US healthcare system has relied primarily on fee-for-service (FFS) payment practices. Essentially, you go to the doctor for a specific need, the doctor serves that specific need,…
Central to the controversy about ACOs’ potential for Value-Based Care is whether they actually save enough money and reduce costs fast enough. Researchers and advocates have produced various independent studies of ACO savings, the most generous estimating $1.8 billion in cumulative savings over the first three years of the program, almost double CMS estimates. Many…
When the COVID-19 pandemic began to disrupt daily life in the U.S., many medical practices were left scrambling. Patient volumes plunged immediately, non-urgent care was postponed, and no one was sure exactly how long the shutdowns and mitigation precautions would last. By late April, 97% of practices reported a negative financial impact from the pandemic,…
A unique arrangement between Blue Cross Blue Shield of Arizona and Change Healthcare reported shared savings on Tuesday. The independent, physician-centric accountable care organization called ACO Partner said it is is giving $148,000 to 148 physicians who earned shared savings in the program during the fourth quarter of 2016. Established in 2016, ACO Partner is…
Seven years have passed since the Affordable Care Act catalyzed the idea of volume over value in the healthcare industry, paving the way for accountable care organizations (ACOs) to accrue shared shavings while focusing on population health. Since that time, the number of ACOs has exploded to over 920 organizations contracted with public and private…