October 2, 2019
The ACO achieved millions in shared savings for the sixth year in a row.
The HackensackAlliance Accountable Care Organization, one of Hackensack Meridian Health’s Accountable Care Organizations (ACOs), has achieved its goal of delivering quality, coordinated care to its Medicare beneficiaries while also reducing health care costs. The HackensackAlliance ACO realized $49.3 million in savings, the second highest total in the nation for performance year 2018. Out of 548 ACOs in the country for performance year 2018, the HackensackAlliance ACO also ranked third in the nation for shared savings, and is the top ACO in the northeast when it comes to total and shared savings.
“I could not be more proud of the hard work and care delivered by the HackensackAlliance ACO,” said Robert C. Garrett, CEO of Hackensack Meridian Health. “It is a national leader in the field of value-based care, and one of the few ACOs in the country to successfully achieve shared savings six years in a row.”
According to the National Association of ACOs, only 10% of the country’s ACOs have been successful in achieving savings five years in a row. The HackensackAlliance ACO has realized shared savings every year since its founding in 2012. Of the estimated $49.3 million in savings achieved by the HackensackAlliance ACO, the ACO will receive approximately $21.6 million which will enable the ACO to continue refining its patient care model and uncovering new, data-driven ways to care for its patients.
“This sixth consecutive year of success is testament to our physicians and their dedication to providing quality care,” said Edward Gold, M.D., president of the HackensackAlliance ACO. “These savings will enable the ACO to continue on its quest to transform patient care.”
The HackensackAlliance ACO also posted strong quality scores and saw significant improvements in several key benchmarks when compared to performance year 2017.
“Our ACOs have never stopped trying to improve upon its goals year after year which translates into high-caliber, affordable care for our Medicare patients,” said Mark D. Sparta, FACHE, president and chief hospital executive of Hackensack University Medical Center and executive vice president of Population Health for Hackensack Meridian Health. “While we are proud of our continued success, our most important accomplishment has been the difference we make in the lives of our Medicare patients.”
Over its six year history, the HackensackAlliance ACO has saved the Medicare program nearly $195 million.