In a significant milestone, NYC Health + Hospitals’ Medicare Shared Savings Program Accountable Care Organization (ACO) has been granted $8 million by the federal government for its commendable efforts in reducing avoidable costs and maintaining exceptional standards of patient care.
This achievement marks a $4 million increase compared to last year’s shared savings, solidifying NYC Health + Hospitals’ position as the sole health system in New York State to achieve a decade of consecutive savings.
The ACO’s remarkable accomplishments in 2022 saw it deliver savings of $10.9 million for Medicare while excelling in various quality-of-care metrics.
The program’s success is attributed to its unwavering support for primary care providers and meticulous care coordination, which effectively curbed unnecessary emergency department visits, preventable hospitalizations, and other high-cost healthcare services for the over 8,000 Medicare fee-for-service patients under its purview.
Matthew Siegler, CEO of the ACO and NYC Health + Hospitals Senior Vice President of Managed Care and Patient Growth, expressed his pride in the achievement, stating, “Every day our patients receive excellent care at our 11 hospitals and more than 50 other patient care sites, and the shared savings we received is proof of that.
“We are one of the only ACOs in the nation with that record of consistent success, and that’s a direct result of the hard work by our frontline clinical teams. We’ve been successful because our primary care providers and our broader system of coordinated care provides high-quality care to all of our patients.”
Since its inception in 2013, the ACO has played a pivotal role in saving Medicare a remarkable total of $83.6 million. This has resulted in NYC Health + Hospitals and its community partners benefitting from earned shared savings, amounting to an impressive $47.1 million in subsequent investments.
NYC Health + Hospitals’ ACO continues to set the standard for cost-effective, quality healthcare delivery, making a positive impact on both patients and the healthcare system as a whole.