Bon Secours today announced that its Hampton Roads and Richmond Good Help accountable care organizations (ACOs) created $15 million in savings for its Medicare population in 2022, representing an overall reduction in health care spend to taxpayers.
Both participated in Track B of the Medicare Shared Savings Program, a multifaceted program sponsored by the Centers for Medicare and Medicaid Services (CMS). Track B is an upside-only track. The Hampton Roads Good Help ACO provides high-quality care while reducing costs for its 5,778 beneficiaries across Hampton Roads through a collaboration of hospitals and providers, while the Richmond Good Help ACO served 32,955 beneficiaries during 2022.
ACO and MSSP models are among strategies CMS employs to lower Medicare spending and keep the Medicare program sustainable for the long term.
The Centers for Medicare and Medicaid Services (CMS) reward ACOs for improving quality of care and reducing costs. Success depends on hospitals, physicians and other clinicians encouraging Medicare patients to maintain their health through better habits, including taking medication as prescribed, in order to prevent unnecessary emergency room visits and preventable hospitalizations.
“The Hampton Roads and Richmond Good Help ACOs have invested resources to improve the quality of care for patients and reduce costs in a variety of ways, including care coordination, preventive health campaigns, closing health care gaps, providing timely access to physicians and reducing duplication of services,” said Jean Haynes, chief population health officer. “We are focused on pushing our quality even higher while further lowering costs using innovation and compassion to meet the changing needs of our patients and the communities we serve.”
Notable achievements for The Hampton Roads Good Help ACO 2022 CMS report include:
· $2.7 million in savings to CMS
· Shared savings of $1.1 million
· A savings rate of 4.67%
The Richmond Good Help ACO was noted in the 2022 CMS report for its:
· $12.5 million in savings to CMS
· Shared savings of $4.9 million
· A savings rate of 3.56%
Through continued investment in our Population Health infrastructure and pursuit of alternative payment models, we are achieving better health for individuals, creating improved population health, and keeping health care costs lower. Bon Secours Mercy Health’s three ACOs created a combined $66.3M in savings for CMS in 2022 and earned $43.5 million in shared savings. This benefits our patients, providers, and our ministry as a whole. These savings are used to:
· Advance care coordination
· Provide preventive health care
· Reduce duplicative services and testing
· Grow a high-quality provider network
· Offer infrastructure and support for our providers
“It is only through the commitment and engagement of our ACO providers and their care teams, supported by our governance structure and our Population Health Service Organization that we were able to achieve these results. Thank you to everyone who played a part in the commitment to value-based care – increasing quality, lowering cost, and providing a better patient experience,” said Haynes.
Both participated in Track B of the Medicare Shared Savings Program, a multifaceted program sponsored by the Centers for Medicare and Medicaid Services (CMS). Track B is an upside-only track. The Hampton Roads Good Help ACO provides high-quality care while reducing costs for its 5,778 beneficiaries across Hampton Roads through a collaboration of hospitals and providers, while the Richmond Good Help ACO served 32,955 beneficiaries during 2022.
ACO and MSSP models are among strategies CMS employs to lower Medicare spending and keep the Medicare program sustainable for the long term.
The Centers for Medicare and Medicaid Services (CMS) reward ACOs for improving quality of care and reducing costs. Success depends on hospitals, physicians and other clinicians encouraging Medicare patients to maintain their health through better habits, including taking medication as prescribed, in order to prevent unnecessary emergency room visits and preventable hospitalizations.
“The Hampton Roads and Richmond Good Help ACOs have invested resources to improve the quality of care for patients and reduce costs in a variety of ways, including care coordination, preventive health campaigns, closing health care gaps, providing timely access to physicians and reducing duplication of services,” said Jean Haynes, chief population health officer. “We are focused on pushing our quality even higher while further lowering costs using innovation and compassion to meet the changing needs of our patients and the communities we serve.”
Notable achievements for The Hampton Roads Good Help ACO 2022 CMS report include:
· $2.7 million in savings to CMS
· Shared savings of $1.1 million
· A savings rate of 4.67%
The Richmond Good Help ACO was noted in the 2022 CMS report for its:
· $12.5 million in savings to CMS
· Shared savings of $4.9 million
· A savings rate of 3.56%
Through continued investment in our Population Health infrastructure and pursuit of alternative payment models, we are achieving better health for individuals, creating improved population health, and keeping health care costs lower. Bon Secours Mercy Health’s three ACOs created a combined $66.3M in savings for CMS in 2022 and earned $43.5 million in shared savings. This benefits our patients, providers, and our ministry as a whole. These savings are used to:
· Advance care coordination
· Provide preventive health care
· Reduce duplicative services and testing
· Grow a high-quality provider network
· Offer infrastructure and support for our providers
“It is only through the commitment and engagement of our ACO providers and their care teams, supported by our governance structure and our Population Health Service Organization that we were able to achieve these results. Thank you to everyone who played a part in the commitment to value-based care – increasing quality, lowering cost, and providing a better patient experience,” said Haynes.