All Caravan Health Collaborative ACOs Earn Shared Savings for 2020 Performance
Community Hospitals Save Medicare $160 million and Earn $68 million in Shared Savings
KANSAS CITY, Mo., Aug. 25, 2021 /PRNewswire/ -- Caravan Health accountable care organizations (ACOs) are leading health care organizations nationwide in the Medicare Shared Savings Program performance for another year, according to results released this week. Caravan Health ACOs earned total savings for Medicare of $160 million, showing that Caravan's collaborative approach continues to generate a return for population health investments.
All of Caravan Health's collaborative ACO clients, predominantly safety net and community hospitals, will receive shared savings, demonstrating the strength of our collaborative model. Between 2018 and 2020, Caravan consolidated smaller ACOs into 12 larger ACOs to minimize statistical noise and variation that comes from small size – scale allows superior performance to shine through. Participating hospitals typically have fewer than 50 primary care physicians serving between 2,500 and 5,000 attributed Medicare patients, which means they will struggle to generate shared savings revenue on their own.
Despite the enormous challenges of the COVID-19 public health emergency, quality performance was a strong point in 2020, with Caravan ACOs earning scores averaging 97%. Following Caravan's nearly perfect Merit-Based Incentive Payment System (MIPS) scores, these providers are well-positioned to excel in the coming move to the streamlined ACO Performance Pathways (APP) program.
"During 2020 and the onset of the COVID-19 pandemic, our clients showed ingenuity in serving their patients – using technology but more importantly grit and perseverance in making sure the most at risk patients still had access to care when they needed it," said Tim Gronniger, Caravan Health President and CEO. "These impressive results show how our provider partners built the capabilities they needed to perform even through the worst circumstances. Congratulations to all our ACOs for their performance and the financial rewards which will allow them to continue to fund this essential work."
About Caravan Health: Caravan Health is a privately-held company formed to create a sustainable model for health systems to excel in value-based payment models. Today, Caravan Health's team of more than 150 experts has supported more than 300 health systems with training, data, analytics, patient satisfaction surveys, and evidence-based medicine programs. Through its program of transparency and mutual accountability, Caravan Health has delivered more than the national average in real savings since 2015. In 2019 and 2020, Caravan Health partners earned $300 million in Medicare savings, over $120 million in shared savings, and quality scores exceeding 97%. With Caravan Health, now the numbers work.
For more information visit www.caravanhealth.com.
SOURCE Caravan Health
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