Caravan Health ACOs achieved more than $26M in savings In 2016, higher yhan average quality scores, new CMS report reveals
Caravan Health’s Accountable Care Organization (ACO) clients saved more than $26 million across approximately 250,000 covered lives in 2016, based on a Centers for Medicare and Medicaid Services (CMS) report detailing financial and quality results for ACOs participating in the Medicare Shared Savings Program (MSSP) last year. The average savings are more than five times the average savings per member nationwide in 2015. In addition to tremendous savings, the ACOs’ second-year quality scores ranged from 95% to 97%, exceeding the national average. All first year ACOs received 100 percent scores for successful reporting. Based on 2016 Quality data and estimated Advancing Care Information data, every clinician billing under Caravan Health ACO participants are projected to have MIPS performance scores above 90 percent in 2017.
Medicare’s goal is to have most payments tied to quality and value by 2018. Caravan Health works with more than 14,000 clinicians in 47 states, helping health systems and independent clinicians across primary and specialty care make the transformation to value-based payments under the ACO model and dramatically improving their standard of care.
Among 23 participating Caravan Health ACOs, 2016 successes include:
- Average net savings of nearly $1.1 million per ACO.
- Average savings of $101.32 per Medicare beneficiary.
- A perfect (100%) quality reporting score achieved by each ACO in its first year of program participation, and an average year two quality score of 96%, 5% higher than the national MSSP average.
- An average projected MIPS score of 93%, with the highest being 100%.
