For the Tenth Consecutive Year, NYC Health + Hospitals’ Accountable Care Organization Earns Significant Medicare Shared Savings
The health system will earn $8M – $4M more than last year – from the federal government for reducing costs while meeting high standards of care for patients NYC Health + Hospitals’ ACO is the only program in the state to have shared savings over ten years
The health system will earn $8M – $4M more than last year – from the federal government for reducing costs while meeting high standards of care for patients
NYC Health + Hospitals’ ACO is the only program in the state to have shared savings over ten years
Sep 05, 2023
NYC Health + Hospitals today announced that its Medicare Shared Savings Program Accountable Care Organization (ACO) will earn $8M from the federal government for reducing avoidable costs and meeting high standards of quality care for patients. This is $4M more than last year’s shared savings. NYC Health + Hospitals is the only health system in New York State to achieve savings for ten years in a row. The ACO saved Medicare $10.9 million for 2022, all while achieving impressive scores across a number of quality-of-care measures. The program achieves savings by supporting primary care providers and care coordination, which prevents unnecessary emergency department visits, avoidable hospitalizations, and other high-cost care for the more than 8,000 Medicare fee-for-service patients who are served through the program.
“Every day our patients receive excellent care at our 11 hospitals and more than 50 other patient care sites, and the shared savings we received is proof of that,” said Matthew Siegler, CEO of the ACO and NYC Health + Hospitals Senior Vice President of Managed Care and Patient Growth. “We are one of the only ACOs in the nation with that record of consistent success, and that’s a direct result of the hard work by our frontline clinical teams. We’ve been successful because our primary care providers and our broader system of coordinated care provides high quality care to all of our patients.”
Since the ACO’s inception in 2013, it has saved Medicare over $83.6M, resulting in earned shared savings and subsequent investment of approximately $47.1M for NYC Health + Hospitals and its community partners.
MEDIA CONTACT: 212-788-3339; PressOffice@nychhc.org
About NYC Health + Hospitals
NYC Health + Hospitals is the largest municipal health care system in the nation serving more than a million New Yorkers annually in more than 70 patient care locations across the city’s five boroughs. A robust network of outpatient, neighborhood-based primary and specialty care centers anchors care coordination with the system’s trauma centers, nursing homes, post-acute care centers, home care agency, and MetroPlus health plan—all supported by 11 essential hospitals. Its diverse workforce of more than 43,000 employees is uniquely focused on empowering New Yorkers, without exception, to live the healthiest life possible. For more information, visit www.nychealthandhospitals.org and stay connected on Facebook, Twitter, Instagram and LinkedIn.