Accountable Care Coalition of New Jersey Generated $4.6 Million in Total Savings in ACO’s First Year of Medicare Shared Savings Program
TAMPA, Fla. and ATLANTIC COUNTY, N.J. (Oct. 14, 2019) – Collaborative Health Systems, a WellCare Health Plans, Inc. (NYSE: WCG) company, announced today the 30 providers in the Accountable Care Coalition (ACC) of New Jersey have generated $4.6 million in total savings for the Medicare Shared Savings Program (MSSP) for performance year 2018, according to figures released by the Centers for Medicare & Medicaid Services.
The ACC of New Jersey, a Medicare Accountable Care Organization (ACO), achieved both total savings to Medicare and shared savings for the ACO in its first year of operation. In total, the ACO generated $4.6 million in total savings for Medicare and $2.3 million in shared savings in performance year 2018. Providers also achieved an overall quality score of 100% (reporting only).
“We are extremely proud to have generated savings for the Medicare Shared Savings Program and our providers in the very first year of our program,” said Dr. Athanasios Papastamelos, medical director of the Accountable Care Coalition of New Jersey. “We are committed to providing high-quality preventive care and chronic disease management to Medicare beneficiaries in our ACO and are grateful the program allows us to demonstrate how we can provide increasing value to the healthcare system and our nearly 3,600 Medicare Fee-ForService beneficiaries.”
“The Accountable Care Coalition of New Jersey is demonstrating how physicians can thrive and retain their independence by embracing value-based care that increases accountability, lowers costs and improves quality,” said Anthony Valdés, president of Collaborative Health Systems. “We look forward to our continued partnership as we work with providers to deepen patient relationships, advance care in our local communities and improve health outcomes.”
Medicare ACOs are groups of doctors, hospitals and other healthcare providers who come together voluntarily to provide coordinated high-quality care to their Medicare beneficiaries, while avoiding unnecessary duplication of services and preventing medical errors. When an ACO exceeds quality and financial thresholds – demonstrating achievement of high-quality care and wiser spending of healthcare dollars – it is able to share in the savings generated for Medicare.
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About the Accountable Care Coalition of New Jersey
The Accountable Care Coalition of New Jersey is an MSSP ACO focused on value-based healthcare. Our providers are dedicated to improving the quality of health care and lowering the growth rate of health care costs. The Accountable Care Coalition of New Jersey participates in the Medicare Shared Savings Program under a contract with the Centers for Medicare & Medicaid Services. For more information, visit accofnewjersey.com.
About Collaborative Health Systems
Collaborative Health Systems (CHS), a WellCare Company, is a management services organization that partners with independent primary care physicians as they move to valuebased models. Its core belief is that primary care physicians are in the best position to influence the quality and cost of healthcare. CHS provides comprehensive support for its physician partners by providing management services, risk contracting, and population health capabilities, including actionable data and other tools, to deliver care coordination and closure of gaps in care. CHS provides additional services to secure and deliver favorable value-based contracts with commercial and other health plans. As of July 2019, CHS manages two Next Generation ACOs, nine MSSP ACOs, a Care Transformation Organization and two Independent Practice Associations. For more information, visit www.CollaborativeHealthSystems.com.
About WellCare Health Plans
Headquartered in Tampa, Fla., WellCare Health Plans, Inc. (NYSE: WCG) focuses primarily on providing government-sponsored managed care services to families, children, seniors and individuals with complex medical needs primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans, as well as individuals in the Health Insurance Marketplace. WellCare serves approximately 6.3 million members nationwide as of June 30, 2019. For more information about WellCare, please visit the company's website at www.wellcare.com.
Media Contact:
Alissa Lawver
WellCare Health Plans, Inc.
813-206-5256
Alissa.Lawver@WellCare.com
Reference: https://data.cms.gov/Special-Programs-Initiatives-Medicare-Shared-Savin/2018-Shared-Savings-Program-SSP-Accountable-Care-O/v47u-yq84
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