Medicare Shared Savings Program Performance Year 2015 Quality and Financial Results
HACKENSACK, N.J., September 1, 2016 – The Centers for Medicare & Medicaid Services (CMS) today announced 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 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.
HackensackAlliance ACO at Hackensack University Medical Center is one of the ACOs that shared savings.
“This marks the third year in a row that the HackensackAlliance ACO has generated savings and our best year to date,” said Robert C. Garrett, co-CEO of Hackensack Meridian Health. “We are pleased to announce that we saved more than $33 million, placing us seventh in the nation for total savings.”
“Year after year, the HackensackAlliance ACO continues to build upon its own success, consistently improving our quality scores,” said said Mark D. Sparta, FACHE, executive vice president of Population Health Clinical Operations for Hackensack Meridian Health. “Thanks to the dedication of our physicians and our commitment to population health, our ACO will gladly receive more than $15.6 million for our earned performance payment.”
“We are extremely proud of the members of the HackensackAlliance ACO for all of their hard work that has culminated in our best year ever and consistently resulted in savings,” said Morey Menacker, D.O., president of HackensackAlliance ACO. “We continue to transform care for our Medicare patients as a result of the members collaborating and making advancements year after year.”
Visit the Medicare Shared Savings Program News and Updates webpage to access the CMS press release and fact sheet, the link to the Performance Year 2015 results file, and to learn more about the program.
About Hackensack Meridian Health
Hackensack Meridian Health is a leading not-for-profit health care organization that is the most comprehensive and truly integrated health care network in New Jersey, offering a complete range of medical services, innovative research and life-enhancing care. Hackensack Meridian Health comprises 13 hospitals, including two academic medical centers, two children’s hospitals and nine community hospitals, physician practices, more than 120 ambulatory care centers, surgery centers, home health services, long-term care and assisted living communities, ambulance services, lifesaving air medical transportation, fitness and wellness centers, rehabilitation centers, and urgent care and after-hours centers. Hackensack Meridian Health has 28,000 team members, more than 6,000 physicians and is a distinguished leader in health care philanthropy, committed to the health and well-being of the communities it serves.
The Network’s notable distinctions include having one of only five major academic medical centers in the nation to receive Healthgrades America’s 50 Best Hospitals Award for five or more consecutive years, the number one hospital in New Jersey as ranked by U.S. News and World Report, consistently achieving Magnet® recognition for nursing excellence from the American Nurses Credentialing Center, recipient of the John M. Eisenberg Award for Patient Safety and Quality from The Joint Commission and the National Quality Forum, a six-time recipient of Fortune’s “100 Best Companies to Work For,” one of the “20 Best Workplaces in Health Care” in the nation, and the number one “Best Place to Work for Women.” Hackensack Meridian Health is a member of AllSpire Health Partners, an interstate consortium of leading health systems, to focus on the sharing of best practices in clinical care and achieving efficiencies.
The hospitals of Hackensack Meridian Health include: academic medical centers - HackensackUMC in Hackensack, Jersey Shore University Medical Center in Neptune; children’s hospitals - Joseph M. Sanzari Children’s Hospital in Hackensack, K. Hovnanian Children’s Hospital in Neptune; community hospitals - Ocean Medical Center in Brick, Riverview Medical Center in Red Bank, HackensackUMC Mountainside in Montclair, HackensackUMC Palisades in North Bergen, Raritan Bay Medical Center in Perth Amboy, Southern Ocean Medical Center in Manahawkin, Bayshore Community Hospital in Holmdel, Raritan Bay Medical Center in Old Bridge, and HackensackUMC at Pascack Valley in Westwood.
To learn more, visit www.hackensackmeridianhealth.org