Advocate Health saves $128.2 million, first in nation among integrated delivery networks in the Medicare Shared Savings Program
The latest data from the Centers for Medicare and Medicaid Services show that Advocate Health's affiliated accountable care organizations generated $128.2 million in total savings through the Medicare Shared Savings Program in 2022, the most in the country among integrated delivery networks.
The accountable care organizations have saved taxpayers more than three quarters of a billion dollars since they first joined Medicare Shared Savings Program in 2012, consistently meeting benchmarks for providing high-quality care while lowering costs.
The results reflect Advocate Health's early success in delivering on the system's pledges to improve affordability and elevate clinical pre-eminence and safety, as well as the determination of hardworking providers and teammates across the enterprise to continually innovate and deliver highly coordinated care.
"Advocate Health will continue to build on these tremendous results to transform healthcare for the better and make care more affordable and accessible to our patients. We are proud of the ways we are saving taxpayers and patients money and leading the way on value-based care," Advocate Health CEO Eugene A. Woods said.
The system attributes its performance to the hard work of its physicians, advanced practice providers and nurses, supported by a best-in-class network of care managers, social workers, pharmacists and other health care professionals. They all work together to help patients manage their chronic conditions by staying in regular touch with patients and their families. These experts help people overcome barriers that might prevent access to medications, specialty visits or other care that they need, and serve as a support network as patients take steps to make healthy lifestyle changes.
"Relentlessly closing care gaps and managing chronic conditions helped keep our patients out of the hospital, leading to both more healthy days with their families and overall cost savings," Advocate Health CEO Jim Skogsbergh said. "Thank you to our physicians, nurses and teammates, whose expertise and commitment make a meaningful difference in our patients' quality of life."
Teammates also help smooth the transition as patients leave the hospital. They ensure that patients and their loved ones understand the medications, follow-up visits and additional care that will be necessary, and they help with scheduling and other administrative needs. This is critical, because the easier care is to navigate, the more likely people will adhere to their prescribed care plan after they leave the hospital. Sticking to the plan, in turn, prevents unnecessary emergency room visits and helps patients achieve their health and wellness goals.
"In the end, this is all about finding new and improved ways to provide the excellent care our patients deserve," Advocate Health Chief Medical Officer Dr. Gary Stuck said. "Our organization also has pledged to improve affordability, and our results in this program show that we can deliver."
In the Medicare Shared Savings Program, accountable care organizations are offered financial incentives to both improve quality and reduce health spending. When an accountable care organizations - a group of doctors, hospitals and other providers that form networks to coordinate patient care - demonstrates that it has achieved certain quality and cost reduction benchmarks, it is rewarded with a share in the savings generated for Medicare.
Advocate's accountable care organizations collectively received $69.9 million back from the program, savings that are re-invested in patient care.