SOURCE: Accountable Care Options, LLC

Accountable Care Options, LLC

October 06, 2015 11:40 ET

Medicare ACOs Continue to Improve Quality of Care, Generate Shared Savings

BOYNTON BEACH, FL--(Marketwired - October 06, 2015) - The Centers for Medicare & Medicaid Services recently issued 2014 quality and financial performance results showing that more Medicare Accountable Care Organizations (ACOs) continue to generate financial savings while improving the quality of care for Medicare beneficiaries by fostering greater collaboration between doctors, hospitals, and health care providers.

When an ACO demonstrates that it has achieved high-quality care and effectively reducing spending of health care dollars above certain thresholds, it is able to share in the savings generated for Medicare. In 2014, 20 Pioneer and 333 Shared Savings Program ACOs generated more than $411 million in savings, which includes all ACOs savings and losses. The results also show that ACOs with more experience in the program tend to perform better over time.

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.

Accountable Care Options, LLC is one of the ACOs that generated shared savings.

"We are pleased with our performance, having achieved a significant Shared Savings bonus for our ACO for the second consecutive year," said Accountable Care Options CEO Richard Lucibella, MHS, MBA. "We couldn't have done it without our committed team of healthcare professionals; it was no easy feat."

For more detailed quality and financial results, click here: http://go.cms.gov/1jMnirh

Additional Resources

Visit the Medicare Shared Savings Program News and Updates webpage to access the HHS press release and fact sheet, the link to the Performance Year 2014 results file, and to learn more about the program.

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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