MyHealth First Network (MyHFN) has been awarded a new three-year contract to participate in the Medicare Shared Savings Program (MSSP) established by the Centers for Medicare and Medicaid Services (CMS).
The purpose of MSSP is to facilitate coordination and cooperation among providers to improve the quality of care for Medicare fee-for-service beneficiaries and reduce unnecessary costs. Only those providers who are part of an Accountable Care Organization like MyHealth First Network are eligible to participate in MSSP and be rewarded for providing high quality, patient-centered care.
MyHFN’s initial contract with MSSP began in 2015 and since then the network has made great strides in transforming care, promoting value, and improving the patient experience for nearly 60,000 Medicare beneficiaries. In the latest performance year results MyHFN achieved the following:
- Decrease in emergency department visits by 6%
- Decrease in hospice care spend by 12%
- Decreases in money and time spent in skilled nursing facilities by 7% and 5% respectively
- Quality of care score of 90.9%
- Total savings of $21.68 million (top 4% nationally)
For the past three years MyHFN has participated in Track 1 of MSSP, a plan that offers ACOs the opportunity to share in the total savings with CMS, but the new contract moves MyHFN into an elite group participating in MSSP Track 1+. While the goals of improving patient care and reducing unnecessary costs remain constant, MSSP Track 1+ opens ACOs to the potential for greater risk and additional shared savings. MyHFN is the largest ACO in South Carolina and one of only two in the state participating in MSSP Track 1+.
About MyHealth First Network
MyHealth First Network (MyHFN) is a clinically-integrated network of physicians and healthcare providers who share a common goal of improving health outcomes, reducing healthcare costs and enhancing the patient experience. The network is led by a 12-member Board of Managers who provides leadership and oversight for the network, as well as a number of committees whose focus is on improving and standardizing care. More than 2,000 healthcare providers across 12 counties in the Upstate of South Carolina currently participate in the network. These counties include Abbeville, Anderson, Edgefield, Greenville, Greenwood, Laurens, McCormick, Newberry, Oconee, Pickens, Saluda and Spartanburg.