The Centers for Medicare & Medicaid Services (CMS) recently released the Performance Year Financial and Quality Results report for 2022, showcasing the data for 482 Accountable Care Organizations participants. A record-breaking 63% of these ACOs achieved shared savings, resulting in large performance payments from Medicare.
CareHarmony’s ACO partners delivered exceptional results in 2022, achieving a remarkable 100% success rate and generating $160M total in shared savings. This achievement marks the third consecutive year of 100% success for our ACO partners, including both one and two-sided risk contracts.
The Accountable Care Organization (ACO) model is designed to improve the quality of healthcare while lowering costs, partly through the use of coordinated care. However, achieving shared savings success as an ACO requires effective care coordination across the entire care continuum.
The success of CareHarmony’s ACO partners highlights the crucial role care coordination plays in achieving shared savings. When combined with CCM, CareHarmony’s innovative ACO model helps position clients for success by improving patient attribution, increasing patient adherence, addressing the Social Determinants of Health (SDoH), lowering unnecessary admissions/readmissions, and improving quality measures.
The program achieved significant savings for Medicare, amounting to $2.52 billion total earned performance payments in 2022, surpassing spending targets for the year. This marked the sixth consecutive year of generating cost savings and the second-highest annual savings in the history of the program, which has been around for over ten years.
To learn more about the recent ACO results, visit CMS for Performance Year Financial and Quality Results for 2022.