Three health systems in Northeast Ohio will receive a multimillion dollar cut of the Medicare costs each helped the federal government save in 2015 by providing more coordinated care to seniors — a feat fewer than a third of the participating accountable care organizations nationwide were able to achieve.
Summa Health, which was the only area system to receive a bonus payment last year as part of the Medicare shared savings program, is joined this year by Cleveland Clinic and University Hospitals in collecting the payments for helping the Centers for Medicare and Medicaid Services reign in health care costs. The Clinic, the region’s largest health system, received by far the largest payout, and will receive roughly $16.6 million for achieving a savings rate of 5.36%.
The Medicare Shared Savings Program is perhaps the most well-known ACO program, which are typically designed to reward organizations that provide high-quality, coordinated care at a controlled cost. That’s far different from the traditional reimbursement models across most health care programs that simply pay out based on how many services are rendered. For the full article click here
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