CMS releases results for 2021. Silver State ACO is successful for the seventh consecutive year earning significant Shared Savings for its Participants by delivering high quality care, and saving Medicare over $33.7 Million
The Centers for Medicare and Medicaid Services (CMS) has released results of the 2021 performance year for Accountable Care Organizations (ACOs). Silver State ACO is proud and delighted to announce that it has earned Shared Savings for the seventh year in a row (2015 – 2021)!
Silver State ACO’s results are astounding, having saved CMS over $33,782,000 in 2021, and cumulatively more than $196,500,000 over the seven years.
In 2021, there were a total of 475 Medicare Shared Savings Program (MSSP) ACOs in the country. Silver State ACO ranked twelfth in highest savings earned.
There are only nineteen ACOs that have earned shared savings for seven consecutive years. Of these, Silver State ACO ranked second in savings it generated for CMS, as well as in savings it earned, for 2021. And, the $196,500,000 it saved CMS over the seven years, as well as the total $111,300,000 it earned over that time, are the third highest totals. Of this elite group of ACOs that has earned shared savings for seven consecutive years, Silver State ACO is the only one west of Texas to have done so.
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, representing more than 80% of the Board of Directors. It is sponsored, in part, by the Valley Health System, Northern Nevada Health System and Kindred Healthcare.
Partnering with these established, high quality healthcare providers assists in smooth transitions in the continuum of care. Silver State ACO believes that working together with the hospital system and a preferred provider network, which includes specialists, 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 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, and by sharing data that can help physicians in providing outstanding patient care. Silver State ACO provides a staff of Quality Coordinators, dedicated to assigned practices, who 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 seven years, Silver State ACO has been successful, saving Medicare and taxpayers over $196 Million.
Silver State ACO is currently comprised of 56 medical practices, with nearly 40,000 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.