CMS releases results for 2022. Silver State ACO is successful for the eighth consecutive year earning significant Shared Savings for its Participants by delivering high quality care, and saving Medicare over $35.9 Million
The Centers for Medicare and Medicaid Services (CMS) has released results for the 2022 performance year for Accountable Care Organizations (ACOs). Silver State ACO is proud and delighted to announce that it has earned Shared Savings for the eighth year in a row (2015 – 2022).
Silver State ACO’s results are astounding, having saved CMS over $35,991,000 in 2022, and cumulatively more than $232,000,000 over the last eight years.
In 2022, there were a total of 482 Medicare Shared Savings Program (MSSP) ACOs in the country. Silver State ACO ranked 20th in highest savings earned and 24th in highest savings generated for CMS. It ranked #1 in both generated and earned savings in the state of Nevada.
There are only seventeen ACOs that have earned shared savings for the last eight consecutive years. Of these, Silver State ACO ranked third in savings it generated for CMS, as well as in savings it earned, for 2022. The $232,000,000 it saved CMS over the eight years, as well as the total $137,000,000 it earned over that time, are the third highest totals. Of this elite group of ACOs that has earned shared savings for eight consecutive years, Silver State ACO is one of only five operating west of the Mississippi to have done so (the other four are in Texas).
In 2013, CMS launched the Medicare Shared Savings Program in an effort to reduce costs and increase quality for “traditional” fee-for-service Medicare beneficiaries. It allows groups of physicians, predominantly primary care providers, to voluntarily join together in an effort to accomplish those goals. The program gives providers the opportunity to earn back part of the savings they generate for CMS, by achieving set benchmarks. An ACO is eligible to share in the savings it generates only if it also achieves and reports high quality care and improved clinical outcomes.
Silver State ACO is physician led and is sponsored, in part, by The Valley Health System, Northern Nevada Health System and ScionHealth. Partnering with these established, high quality healthcare providers assists in smooth transitions in the continuum of care. Silver State ACO believes that by working together with the hospital system and a preferred provider network, which includes specialists, and skilled nursing and rehabilitation facilities, the beneficiaries get the care they need, at the right time, in the right place, and at the right level.
Silver State ACO provides services and resources to its Participant practices. These include electronically delivering real time notification of patients discharged from acute facilities, as well as providing gaps in care data to physicians to act on when a patient is in the clinic. Systems are in place for coordinating care of patients post discharge, as well as in their homes. These programs assist Participants by identifying resources and opportunities for increasing revenue to the practice while reducing overall costs. Sharing data can help physicians in providing outstanding patient care.
Each Participant practice has a dedicated Quality Coordinator (QC), provided free of charge by Silver State ACO. These highly trained QCs keep the practices apprised of CMS updates and changes, and assist in required quality reporting.
Silver State ACO providers have worked diligently to provide exceptional care while reducing overutilization, redundancy and cost. The results speak for themselves. Over the past eight years, Silver State ACO has been successful in its goal to assist its Participant practices, and save money for CMS, while ensuring continued quality of care to its attributed patients.
For the 2023 performance year, Silver State ACO is comprised of 53 medical practices, with nearly 34,000 attributed beneficiaries throughout the state of Nevada. Silver State ACO looks forward to continued success in assisting its Participants in providing high quality care while reducing Medicare costs.