SOURCE: Accountable Care Options, LLC

Accountable Care Options, LLC

October 15, 2014 10:46 ET

Accountable Care Options, LLC Achieves $12.7 Million in Medicare Shared Savings and 100% Quality Score in Year-One of Program

Its Primary Care Physicians Received Shared Savings Payments of $1,067 per Fee-for-Service Medicare Patient

BOYNTON BEACH, FL--(Marketwired - October 15, 2014) - South Florida-based Accountable Care Options, LLC and its network of primary care physicians were rewarded for reducing costs while achieving a 100% Quality Score during their first year in the Medicare Shared Savings Program (July 1, 2012 to Dec. 31, 2013). Accountable Care Options is the only primary care exclusive, primary care controlled ACO in South Florida.

The company and its physicians achieved a Shared Savings of more than $12.7 million for Medicare in the innovative program. The lower costs resulted from focusing on wellness and prevention, and doing a better job of managing individuals with chronic conditions. For their efforts, Accountable Care Options and its physician network earned a Shared Savings bonus of $6.25 million from the Centers for Medicare & Medicaid Services (CMS). This represents an average of $225,000 per practice.

"We are encouraged that our physicians have consistently achieved the highest possible quality scores from CMS while saving taxpayers millions based on keeping patients healthier," said Accountable Care Options CEO Richard Lucibella, MHS, MBA. "The Shared Savings program makes a lot of sense, enabling physicians to maintain their independence and achieve financial rewards for providing excellent, cost-effective patient care." 

CMS recently issued quality and financial performance results showing that Medicare Accountable Care Organizations (ACOs) have improved patient care and produced hundreds of millions of dollars in savings for the program, which came about with the implementation of the Affordable Care Act.

For the first payment year, Accountable Care Options' 19 Internal Medicine and Family Practice partners in 27 offices throughout Palm Beach and Broward counties were studied for the care rendered to 5,800 of their Medicare patients. Accountable Care Options has significantly expanded its network in South Florida, doubling the number of practices in the ACO for 2015.

Accountable Care Options was among only 29 ACOs in the nation to receive a Shared Savings payment in year-one of the program. That set the network apart from ACOs that either received no payments or lost money. Accountable Care Options assumes all financial risk in the program; member physicians receive their regular payments for treatment directly from Medicare.

Since passage of the Affordable Care Act, more than 360 Medicare ACOs have been established in 47 states, serving more than 5.6 million Americans with Medicare. Medicare ACOs are groups of providers and suppliers of services that work together to coordinate care for the Medicare fee-for-service (FFS) beneficiaries.

About Accountable Care Options, LLC: Accountable Care Options, LLC is a privately owned and managed network of South Florida primary care practices providing coordinated care as part of the Medicare Shared Savings Program. The Accountable Care Organization, or ACO, takes all financial risk in the program, while member physicians receive their normal Medicare payments. The network and physicians share in bonuses paid by Medicare for reaching quality care and savings goals. For more information, visit www.aco-fl.com.

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