The Medicare Shared Savings Program Delivered High-Quality Care and Cost Savings
Nevada’s Silver State Accountable Care Organization ranked first in the state for total Medicare savings at $48 million and 5th in the nation for generating a savings of 10.26% below benchmark in 2019. This group of physicians, who agree to reduce costs and increase quality through the Medicare’s Shared Savings Program (MSSP), also ranked in the top 1% nationally for total Medicare savings generated.
Prominence Health Plan, a subsidiary of Universal Health Services (UHS), announced the 2019 results of its seven UHS Accountable Care Organizations (ACOs) showing a continued trend of increased cost savings and improved quality. The Silver State ACO has participated in Medicare’s Shared Savings Program since 2014, earning shared savings every year since 2015. In total, the group has saved more than $118 million in Medicare expenses over the past five years.
The Silver State ACO is physician-led and represents 50 physician practices statewide in Nevada who are incentivized to bend the healthcare cost curve and maintain high quality care. During the past five years, Silver State ACO has continued to grow its team of quality coordinators who have been instrumental in its continued success and whose efforts resulted in achieving a quality score of 96.13%.
“The Silver State ACO makes a direct impact on the health of our community,” said Karla Perez, Regional Vice President of Universal Health Services. “This program encourages providers to spend extra time with patients ensuring that their needs are being met, which gives a much needed personal touch to healthcare. It’s about building relationships with our patients and all the providers along the continuum of care to ensure every patient receives the right care at the right time in the right setting.”
Within the shared savings program, providers can earn back part of the savings they generate for Medicare by achieving predetermined quality of care goals. This model rewards both the patient and physician as the patient receives better healthcare and the physician is incentivized for keeping them as healthy as possible and providing high quality care.
The Center for Medicare and Medicaid Services established the ACO program to improve the quality of care for Medicare beneficiaries and lower Medicare costs. If an ACO achieves high quality healthcare for its patients and saves money for Medicare, then the ACO shares in those savings.
“Silver State ACO has helped us improve the quality of care for our patients by providing us with valuable data and real-time analytical tools to drive the necessary changes within our practice,” said Dr. Thomas Peters. “The ACO has also allowed us to learn and implement best practices by providing a forum where we can learn and share knowledge across all ACO practices.”
This collaborative effort with providers and physicians helps ensure patients, especially the chronically ill or those who are or have been hospitalized, obtain the right care at the right time, and avoid unneeded duplication of services such as lab and radiology tests. Meeting the needs of the patient in a timely manner with monitored follow up will ensure the patient can receive improved quality of care through the ACO network.
About Silver State ACO
Silver State ACO was established in 2015 in Las Vegas, Nevada with the mission of bringing physicians together to advance value-based care and improve coordination of care for Medicare patients. Today, Silver State ACO includes more than 50 physician practices and over 800 providers who manage the care of 52,000 Medicare patients across Nevada.
About Prominence Health Plan
Prominence Health Plan began in 1993 as a health maintenance organization (HMO) and became of a subsidiary of Universal Health Services, Inc. (UHS) in 2014. They provide coverage to fully insured, self-funded and Medicare Advantage members throughout Nevada and parts of Texas and Florida.
Prominence operates seven Accountable Care Organizations (ACOs) in California, Florida, Nevada, South Carolina, Texas and Washington D.C., which are managed care systems that benefit communities by providing coordinated, high-quality care to Medicare patients. For more information about Prominence Health Plan, visit ProminenceHealthPlan.com or ProminenceMedicare.com. Parent company UHS ranks 281 on the 2020 Forbes 500 list of America’s largest corporations and consistently ranks among Fortune’s list of the World’s Most Admired Companies.
About Universal Health Services
One of the nation’s largest and most respected providers of hospital and healthcare services, Universal Health Services, Inc. has built an impressive record of achievement and performance. Growing steadily since our inception into an esteemed Fortune 500 corporation, annual revenues were $11.4 billion for 2019. In 2020, UHS was again recognized as one of the World’s Most Admired Companies by Fortune; ranked #281 on the Fortune 500; and listed #330 in Forbes ranking of U.S.’ Largest Public Companies.
Our operating philosophy is as effective today as it was 40 years ago, enabling us to provide high-quality care to our patients and their loved ones. Our strategy includes building or acquiring hospitals in rapidly growing markets, investing in the people and equipment needed to allow each facility to thrive, and becoming the leading healthcare provider in each community we serve.
Headquartered in King of Prussia, PA, UHS has 90,000 employees and through its subsidiaries operates 26 acute care hospitals, 328 behavioral health facilities, 42 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services located in 37 U.S. states, Washington, D.C., Puerto Rico and the United Kingdom. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.
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