Medicare saves $335m with Collaborative Health Systems
US-based management services company Collaborative Health Systems (CHS) has announced that it has helped deliver $335 million in savings to Medicare since 2012.
CHS partners with primary healthcare providers who deliver the state-aided health plan (Accountable Care Organizations, or ACOs). Together they have also generated $183 million in shared savings, according to .
The country's healthcare sector is currently moving towards a . CHS is one of the largest Medicare ACO sponsors in the US, providing them with data that helps them coordinate care and meet quality requirements. This includes analytics, risk contracting and management, clinical care management, and support forming independent physician associations.
ACOs are groups of doctors, hospitals, and other healthcare providers who come together on a voluntary basis to provide coordinated, high-quality care to their Medicare patients. The Shared Savings Program offers providers and suppliers the opportunity to create an ACO. The ACO agrees to be held accountable for the quality, cost, and experience of care of an assigned Medicare population. The program has different tracks that allow ACOs to select an arrangement that makes the most sense for their organisation.
In 2019 alone, 89% of the company's ACOs saved $41 million for Medicare, making it the seventh year CHS has delivered savings. According to CMS figures, in 2019 they served 92,000 Medicare patients across the country, achieving an average quality score of 94%.
“Our mission is to support independent physician practices as they transition to value-based models, to help ensure Medicare beneficiaries have access to high-quality care and services,” said Anthony Valdés, President of Collaborative Health Systems. “Our 2019 results are just one more example of how our collaborative partnership is working to improve health outcomes and lower the cost of care.”