The Centers for Medicare & Medicaid Services (CMS) announced the 2017 performance year results for the Medicare Shared Savings Program, an initiative that encourages Medicare Accountable Care Organizations (ACO) to better coordinate patient care and reduce health care costs.
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 is to ensure that patients 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.
MyHealth First Network (MyHFN), the largest and first of its kind based solely in South Carolina, achieved more than $16.3 million in shared savings in 2017 because of its high scores in quality and value-based care. It’s among the 163 ACOs nationally that generated more than $1.7 billion in shared savings during the 2017 performance year.
The MyHFN clinically-integrated network includes more than 2,300 providers across 13 counties who share a common goal of improving health outcomes, reducing healthcare costs and enhancing the patient experience. The network includes independent providers as well as systems and hospitals such as Abbeville Area Medical Center, Easley Baptist Hospital, Greenville Health System, Newberry County Memorial Hospital and Self Regional Healthcare. The coordinated approach to health care allows providers to work with patients to develop individualized care plans that address barriers and gaps in care, and ultimately provide the best care for the patient.
This high standard of care earned MyHFN a quality score of 97.94% from CMS.
“I am pleased that for the third year in a row, MyHealth First Network was successful in improving the quality of care for more than 58,000 Medicare beneficiaries in South Carolina,” said Pat Marshall, MD, president of MyHFN. “The high quality score is a direct reflection of the hard work and dedication from our member providers. For the patient, it all translates to higher quality care at an affordable cost. I am proud to be part of a network that truly seeks to transform health care and enhance the quality of life for every patient.”
MyHFN ranks in the top 5% nationally in number of patients served and savings generated.
Visit the Medicare Shared Savings Program webpage to learn more about the program.