On Tuesday, August 30th, officials at the Centers for Medicare & Medicaid Services (CMS) released the latest financial and quality results for the Medicare Shared Savings Program (MSSP) performance year 2021. You can find the press release here: https://www.cms.gov/newsroom/press-releases/medicare-shared-savings-program-saves-medicare-more-16-billion-2021-and-continues-deliver-high.
The program saved Medicare a total of $1.66 billion in 2021, which marks the fifth consecutive year the MSSP has generated savings along with high-quality performance results. Due to the success over the years, CMS has set a goal that 100 percent of traditional Medicare (FFS) will be part of an accountable care or value-based care relationship by 2030.
Over half (approximately 58%) of Accountable Care Organizations (ACOs) earned shared savings in 2021 with an average shared savings rate of 3.43%. The ACOs that realized high amounts of shared savings were considered low revenue ACOs; however, nearly all ACOs (99%) reported and met the quality standard.
CMS’ announcement and release of the results shows the resilience and strength of the ACO model. The results prove that the MSSP ACO model continues to provide better health, smarter spending, and more resources for communities that need it the most.
View the 2021 Medicare Shared Savings Program Financial and Quality performance results at https://data.cms.gov/medicare-shared-savings-program/performance-year-financial-and-quality-results/data.
Pinnacle Healthcare Consulting assists clients in evaluating and enhancing their value-based care strategy which includes assisting in the organizational structure development and preparing applications for ACOs. Pinnacle skillfully engages stakeholders and teams through strategic roadmaps, program execution, and entire project development.
If your goal is to:
- Start an MSSP ACO Application for PY 2024
- Successfully participate in the MSSP ACO model
- Improve on current ACO initiatives and processes to achieve future shared savings
- Review shared savings settlements (i.e., MSSP ACOs, REACH ACOs, and Commercial)
- Negotiate shared savings arrangements with commercial carriers