Doctors, hospitals and healthcare providers establish ACOs in order to work together to provide higher-quality coordinated care to their patients, while helping to slow healthcare cost growth. St.Vincent will be one of 405 ACOs participating in the Shared Savings Program as of Jan. 1. Beneficiaries seeing health care providers in ACOs have the freedom to choose doctors inside or outside of the ACO.
The ACO plan that St.Vincent is partnering with is MissionPoint Indiana LLC – a clinically integrated network of physicians, hospitals, outpatient facilities, nurses and supporting caregivers who share a common goal: help people get well and stay well. As part of the Ascension network, MissionPoint brings patients quality care for the best value and lowest out-of-pocket costs. MissionPoint will help patients coordinate their care, as well as provide lifestyle and support resources.
“This program allows us to take better care of our most vulnerable patients, providing them with the support they need to get well and stay well. To truly be successful, we must go beyond episodic care and put a greater emphasis on the whole continuum,’’ said Jonathan Nalli, chief executive officer of St.Vincent. “This model is an example of how St.Vincent continues to keep the patient at the center of all we do.”
ACOs share with Medicare the savings generated from lowering the growth in health care costs when they meet standards for high quality care. ACOs are groups of doctors, hospitals, and other health care providers that work together to give Medicare beneficiaries in Original Medicare (fee-for-service) high quality, coordinated care. ACOs can share in any savings they generate for Medicare, if they meet specified quality targets.
“St.Vincent will be joining a program that is part of this Administration’s vision for improving the coordination and integration of care received by Medicare beneficiaries,” said Sean Cavanaugh, Deputy Administrator and Director, Center for Medicare. “We look forward to continuing this partnership with St.Vincent in increasing value and care coordination across the health system.”
Since ACOs first began participating in the program in early 2012, thousands of health care providers have signed on to participate in the program, working together to provide better care to Medicare’s seniors and people with disabilities. The 89 new ACOs will bring approximately 23,000 additional physicians and other providers into the ACO program starting January 1.
By working with MissionPoint and other ACOs, the ultimate goal is to deliver better care, spend dollars more wisely, and have healthier people and communities. ACOs drive progress in the way care is provided by improving the coordination and integration of health care, and improving the health of patients with a priority placed on prevention and wellness.
More information about the Shared Savings Program is available at http://tinyurl.com/88ysyxc
For a list of the 89 new ACOs, visit: http://tinyurl.com/8yvbe6j