The Centers for Medicare & Medicaid Services (CMS) announced the 2016 performance year results for the Medicare Shared Savings Program, an initiative encouraging Medicare Accountable Care Organizations (ACO) to better coordinate patient care and reduce healthcare costs. Medicare ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to provide coordinated high quality care to their Medicare patients. The goal of coordinated care is to ensure that patients, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors. When an ACO exceeds quality and financial thresholds – demonstrating achievement of high-quality care and wiser spending of health care dollars – it is able to share in the savings generated for Medicare. MyHealth First Network (MyHFN) is among the 31 percent of ACOs that generated savings during the 2016 performance year. In total, 1
CONTACT: Karen Potter (864) 797-7558 The Centers for Medicare & Medicaid Services (CMS) announced yesterday the 2015 performance year results for the Medicare Shared Savings Program and the Pioneer Accountable Care Organization Model that show physicians, hospitals and health care providers participating in Accountable Care Organizations continue to make significant improvements in the quality of care for Medicare beneficiaries, while achieving cost savings. In 2015, Medicare Accountable Care Organizations had combined total program savings of $466 million, which includes all Accountable Care Organizations’ experiences, for 392 Medicare Shared Savings Program participants and 12 Pioneer Accountable Care Organization Model participants. The results show that more Accountable Care Organizations shared savings in 2015 compared to 2014, and those with more experience tend to perform better over time. Medicare ACOs are groups of doctors, hospitals, and other health care providers, who c
The CMS Alliance to Modernize Healthcare (CAMH) talked recently with LAN Guiding Committee member and MyHFN President Dr. Angelo Sinopoli about the creation of MyHFN and CCI as an initiative to move toward alternative payment models (APMs). John Supra, CCI Executive Director of Operations; Valinda Rutledge, CCI Vice President of Public Payor Health Strategy; and Jennifer Snow, Director of Accountable Communities for GHS also joined the conversation. Click here to read the interview.
89 New Accountable Care Organizations Join Program to Improve Care for Medicare beneficiaries Greenville, SC – MyHealth First Network has been selected as one of 89 new Medicare Shared Savings Program Accountable Care Organizations (ACOs), providing approximately 1.6 million additional Medicare beneficiaries with access to high-quality, coordinated care across the United States, the Centers for Medicare & Medicaid Services (CMS) announced today. That brings the total to 405 Shared Savings Program ACOs serving over 7.2 million beneficiaries.
GREENVILLE, SC – More than 1,800 healthcare providers across nine upstate counties have partnered together to form MyHealth First Network (MyHFN), a physician-led network designed to improve care and address escalating healthcare costs. The U.S. healthcare system is the most costly in the world. According to the Centers for Medicare and Medicaid Services (CMS), national health spending is expected to reach $4.6 trillion by 2020. The problem, however, is not just limited to the United States. Health systems and healthcare providers across the globe are under pressure to find ways to offer increased quality at an affordable cost. As a result, health care is shifting away from its current fee-for service model to one that is focused on value, which is defined as health outcomes achieved per dollars spent.