NYC Health + Hospitals’ Accountable Care Organization Earns Medicare Shared Savings for Ninth Consecutive Year
The system will earn $4 million from the federal government for reducing costs while meeting high standards of care for patients
NYC Health + Hospitals' program is one of 11 nationwide to earn shared savings over nine consecutive years and the only one in New York State with the distinction
Oct 07, 2022
New York, NY
NYC Health + Hospitals today announced that its Medicare Shared Savings Program Accountable Care Organization (ACO) will earn $4 million from the federal government for reducing costs and meeting high standards of quality care for patients. NYC Health + Hospitals’ program is one of 11 nationwide to earn shared savings over nine consecutive years and the only one in New York State with the distinction. The ACO 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.
“Value based care is central to our mission at NYC Health + Hospitals, and I am so proud of the providers and team members in our ACO for once again leading the way,” said Matthew Siegler, CEO of the ACO and NYC Health + Hospitals Senior Vice President of Managed Care and Patient Growth. “Our ACO is one of the few across the nation to earn shared savings nine years in a row. With all the disruptions in care caused by COVID, this record of success is even more remarkable.”
For 2021, the ACO reduced costs for Medicare patients by $5.45 million, of which it earned $4 million in shared savings. Since the ACO’s inception in 2013, it has saved Medicare over $72.7 million, resulting in earned shared savings and subsequent investment of approximately $39.1 million for NYC Health + Hospitals and its community partners.
“For nine years, NYC Health + Hospitals has been providing care that helps our older and chronically ill patients to be as healthy as possible which leads to fewer hospitalizations, fewer nursing home admissions, and better quality of life,” said David Stevens, MD, Chief Medical Officer of the NYC Health + Hospitals Accountable Care Organization. “As a physician, this is why I come to work every day.”
“It is so gratifying that for the 9th year our NYC Health + Hospitals care teams have been recognized for the collaborative work that enables our patients achieve their best possible health,” said Kathleen Hanley, MD, FACP, Accountable Care Organization Lead, Department of Medicine at NYC Health + Hospitals/Gotham Health, Gouverneur.
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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 at https://www.facebook.com/NYCHealthandHospitals or Twitter at @NYCHealthSystem.