The Centers for Medicare & Medicaid Services (CMS) recently confirmed quality and financial performance results for the 2017 performance year for the Medicare Shared Savings Program (MSSP) Accountable Care Organizations (ACOs). The CHESS MSSP, LLC ACO (CHESS MSSP) saved $9.5 million and achieved an overall quality score of 95.13 percent in 2017. The savings were the second highest savings among all North Carolina MSSP ACOs. In 2017, CHESS MSSP was comprised of Appalachian Regional Medical Associates, Inc., Charles A. Cannon, Jr. Memorial Hospital, Inc., Catawba Valley Medical Group, Inc., Watauga Medical Center, Inc., and Wake Forest University Health Sciences. Over its three years of operation, CHESS MSSP had a total savings over $19 million dollars, receiving a net earned performance of $7.5 million.
In total, 2017 MSSP ACOs nationally generated $314 million in net savings to Medicare, and gross savings over $1.1 billion. These results demonstrate that physicians, hospitals, and health care providers participating in ACOs continue to make significant improvements in the quality of care for Medicare beneficiaries, while achieving cost savings.
Medicare Shared Savings Program ACOs are groups of doctors, hospitals, and other health care providers, who voluntarily collaborate to provide coordinated, high quality care to their Medicare beneficiaries. The goal of coordinated care is to ensure that beneficiaries, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors.
About CHESS: Founded in 2012, CHESS is a physician-led health care services company that empowers clinicians and health systems to make the transition to value-based medicine. Providers practice medicine in a model in which they are financially rewarded for improving the quality of care and reducing the cost of care delivered to their patients. This allows for the introduction of innovative care models that improve patient outcomes. With careful attention to high quality and efficiency, CHESS negotiates payer contracts that reward physicians’ high quality care at lower costs. CHESS creates a health care environment that is both patient-centered and clinician-friendly. For more information about CHESS, please visit www.chesshealthsolutions.com or call 336-821-7060.