New Jersey ACO Generates $5 Million in Total Savings for the Medicare Shared Savings Program
The ACO achieved a savings rate of 7.7%, the third highest of ACOs operating solely in the state of New Jersey.
TAMPA, Fla. and ATLANTIC CITY, N.J., Sept. 13, 2021 /PRNewswire/ -- Collaborative Health Systems (CHS) announced today that Chrysalis Medical Services generated $5 million in total savings for the Medicare Shared Savings Program (MSSP) and improved quality of care for Medicare beneficiaries, according to figures released by the Centers for Medicare & Medicaid Services (CMS). The ACO achieved a savings rate of 7.7%, the third highest of ACOs operating solely in the state of New Jersey.
Through support from CHS, Chrysalis has transitioned to and navigated a value-based care model to maximize patient care while minimizing costs. As a result, the New Jersey ACO has generated savings for Medicare and achieved shared savings. In 2020, the ACO served 5,100 Medicare beneficiaries across New Jersey and generated $2.4 million in shared savings
Chrysalis also partnered with CHS to improve care and quality outcomes through timely and preventive care. Leveraging innovative technology to track population health trends, CHS supported Chrysalis to meet quality standards annually, and most recently, helped them achieve an average quality score of 96.9%. This level of high-quality care has helped keep patients out of the hospital and ER resulting in a 22% decrease in inpatient visits per 1,000 since 2018 and a 28% decrease in ER visits per 1,000 since 2018, its most recent benchmark year1.
"Our successful presence in New Jersey showcases how ACOs can help independent providers statewide balance efficient spending and effective patient care," said Anthony Valdés, President of Collaborative Health Systems. "We remain steadfast in our commitment to supporting providers statewide as they work to manage costs while also delivering exceptional care."
Medicare ACOs are groups of doctors, hospitals, and other healthcare providers who come together voluntarily to provide coordinated, high-quality care to their Medicare beneficiaries. The Shared Savings Program offers providers and suppliers an opportunity to create an ACO, which agrees to be held accountable for the quality, cost, and experience of care of an assigned Medicare Fee-For-Service (FFS) beneficiary population. The Shared Savings Program has different tracks that allow ACOs to select an arrangement that makes the most sense for their organization.
For more information about Collaborative Health Systems and its ACO partners, visit www.CollaborativeHealthSystems.com.
About Collaborative Health Systems
Collaborative Health Systems (CHS) is a management services organization that partners with independent primary care physicians as they move to value-based models. Its core belief is that primary care physicians are in the best position to influence the quality and cost of healthcare. CHS provides comprehensive support for its physician partners by providing management services, risk contracting, and population health capabilities, including actionable data and other tools, to deliver care coordination and closure of gaps in care. CHS provides additional services to secure and deliver favorable value-based contracts with commercial and other health plans. CHS currently manages two Next Generation ACOs, one Direct Contracting entity, eight MSSP ACOs, a Care Transformation Organization, and three Independent Practice Associations. CHS is a wholly owned subsidiary of Centene Corporation.
1 Benchmark year 3 for Chrysalis in the MSSP program.
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SOURCE Collaborative Health Systems
