Delaware Valley ACO experiences significant success after first year of participation
The Centers for Medicare & Medicaid Services today issued 2014 quality and financial performance results showing that more Medicare Accountable Care Organizations (ACOs) continue to generate financial savings while improving the quality of care for Medicare beneficiaries by fostering greater collaboration between doctors, hospitals, and health care providers.
When an ACO demonstrates that it has achieved high-quality care and effectively reducing spending of health care dollars above certain thresholds, it is able to share in the savings generated for Medicare. In 2014, 20 Pioneer and 333 Shared Savings Program ACOs generated more than $411 million in savings, which includes all ACOs savings and losses. The results also show that ACOs with more experience in the program tend to perform better over time.
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 of coordinated care is to ensure that patients, especially the chronically ill, 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.
Delaware Valley ACO (DVACO) was one of the ACOs that generated shared savings.
“We at DVACO are very pleased with this early validation of our commitment to moving the business model of health care from one strictly based on volume to one based upon value, ultimately improving health outcomes and the patient care experience,” said Katherine Schneider, MD, President and CEO of DVACO. “These early results speak to the challenging transformational work that has been taking place in our hospitals and physician practices—all with a focus on delivering superior care at a sustainable cost for our regional economy and the communities we serve. On behalf of the entire DVACO team, I extend my deepest gratitude to our member physicians for their work thus far, and I am looking forward to continuing our partnership as we make significant progress in this complex transition to value-based care.”
Visit the Medicare Shared Savings Program News and Updates webpage to access the HHS press release and fact sheet, the link to the Performance Year 2014 results file, and to learn more about the program.
About Delaware Valley ACO
The Delaware Valley Accountable Care Organization (DVACO) is a limited liability company that is owned by Main Line Health, Jefferson University and Hospitals, Holy Redeemer Health System, Doylestown Health, and Magee Rehabilitation Hospital. DVACO’s purpose is to enhance the quality of health care and reduce the growth rate of health care costs by acting as a convener, accelerator, and provider of the foundation needed to assist its participating members to transition from fee for service model, a business model focused on volume to a model focused on population health. DVACO operates under the Medicare Shared Savings Program (MSSP) and is currently the region’s largest Medicare ACO. For more information please visit www.dvaco.org.
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