Collaborative Health Systems (CHS) announced today that its Medicare Shared Savings Program (MSSP) Accountable Care Organizations (ACOs) delivered $335 million in total savings to Medicare and $183 million in shared savings since 2012, according to figures released by the Centers for Medicare & Medicaid Services (CMS).
Defining Medicare ACOs
Medicare ACOs are groups of doctors, hospitals, and other healthcare providers who come together voluntarily to provide coordinated, high-quality care to their Medicare beneficiaries. The Shared Savings Program offers providers and suppliers an opportunity to create an ACO, which agrees to be held accountable for the quality, cost, and experience of care of an assigned Medicare Fee-For-Service (FFS) beneficiary population. The Shared Savings Program has different tracks that allow ACOs to select an arrangement that makes the most sense for their organization.
Total Cost Savings
Performance year 2019 marks the seventh year CHS – one of the largest Medicare ACO sponsors in the country – generated savings and met MSSP quality standards. In 2019, CHS ACOs:
– Served 92,000 Medicare beneficiaries across the country;
– Achieved an average quality score of 94%;
– Delivered $41 million in total savings to Medicare;
– Generated $17.6 million in shared savings; and,
In total, 89% of CHS ACOs delivered total savings to Medicare.