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In first year of operation, CareMount ACO physicians reduced costs while improving care.
CareMount Medical recently announced its Next Generation Accountable Care Organization (Next Generation ACO), CareMount Health Solutions ACO, LLC, generated $778,583 in shared savings for the Performance Year 2018 for The Centers for Medicare & Medicaid Services’ (CMS’) Next Generation ACO Model initiative, according to a news release.
CareMount ACO was one of a total of 38 Next Generation ACOs nationally to achieve earned savings for the 2018 Performance Year.
“We are proud to be recognized for our population health efforts and realizing the goals of reducing healthcare costs and improving care coordination for patients,” says Scott D. Hayworth, MD, FACOG, chairman of the board and chief executive officer of CareMount Health Solutions, LLC. “Strengthening core initiatives, such as our Care Coordination Program, enables us to focus on our most vulnerable and high-risk patients, improve patient safety and reduce hospital admissions, helping us to lower care costs. CareMount continues to be a driving force nationwide in terms of improving the way patient-centered care is delivered.”
CareMount Medical is the largest independent multi-specialty medical group in the state of New York and is committed to building a best-in-class integrated care network that improves quality and clinical outcomes for its patients. CareMount Medical joined the CMS Next Generation ACO Model in 2018 under its managed care subsidiary, CareMount ACO, which serves 26,000 patients through its value-based care model, the release says.
The ACO delivers care coordination services in close collaboration with more than 650 CareMount Medical primary care physicians, specialists, and advanced practice professionals. The ACO focuses on risk-based contracts for government programs, including Medicare Advantage. CareMount Medical participated as a Medicare Shared Savings Program Track 1 ACO since 2012 before advancing to the Next Generation ACO Model in 2018.
Next Generation ACOs are comprised of groups of doctors, hospitals, and other healthcare providers who come together voluntarily to deliver coordinated, high-quality care to improve the patient’s experience and health while lowering overall healthcare costs. CMS assesses Next Generation ACOs annually based on overall quality of care measures and the ACOs’ ability to deliver high-value care outcomes to attributed beneficiaries.
CareMount ACO is one of two Next Generation ACOs in the New York.
“The result of shared savings generated from CareMount’s ACO further demonstrates our commitment to the delivery of patient-centered, high-quality care while driving down healthcare costs,” says Kevin J. Conroy, MS, chief financial officer and chief population health officer of CareMount Health Solutions, LLC. “Since adopting the Next Generation ACO model, we’ve built an advanced preferred provider network in the Hudson Valley and New York City and expanded our offerings to include Medicare Advantage contracts with leading payers. In 2019 we continued to improve our performance and we look forward to ongoing success in 2020.”
In 2019, CMS awarded CareMount Health Solutions ACO, LLC a perfect score of 61 out of 61 points on its Initial Readiness Review (IRR). CMS conducts IRRs for all ACOs entering the Next Generation ACO Model.