WellSpan Health Achieves Significant Milestones in Cost Savings
WellSpan Health's Achievement in Cost Savings
WellSpan Health is making significant strides in the healthcare landscape by demonstrating its commitment to affordability and quality care. The Centers for Medicare and Medicaid Services (CMS) have recognized their achievement in saving millions through coordinated care efforts, especially highlighted in their involvement with the Medicare Shared Savings Program (MSSP).
Transforming Patient Care
In 2024, WellSpan Health saved not only patients but also partners and the federal government a staggering amount of money through high-quality service delivery. Their work has positively impacted over 73,000 beneficiaries in the region, showcasing a commitment to both health improvement and cost management.
Leading the Way in Value-Based Care
WellSpan Health established its Medicare Accountable Care Organization (ACO) as a pioneering force in value-based care. This arrangement represents a collaborative effort between WellSpan and independent physician practices, marking it as the largest ACO in the region. The integrated approach ensures that care is delivered effectively and efficiently, focusing on patient well-being.
Significant Savings Achieved
The performance for the MSSP in 2024 has revealed that WellSpan’s Medicare ACO achieved over $36 million in savings for the federal government. The coordinated care model accounted for real reductions in costs, bringing cumulative savings to nearly $75 million for Medicare over the past three years. Noteworthy is the fact that 2024’s savings almost doubled previous two-year totals, indicating a significant upward trend in cost efficiency.
Enhancing Quality Through Coordination
Accountable Care Organizations like WellSpan operate on a value-based model that aims to improve healthcare quality, patient experiences, and affordability—all while fostering healthier communities. By overseeing care coordination, these entities make it easier for patients to access the right services promptly, particularly in managing chronic health conditions. This proactive approach is crucial in minimizing unnecessary variations in care delivery.
Commitment to Evidence-Based Care
Dr. David Gasperack, senior vice president of WellSpan Primary Care and Population Health, remarked on their success by stating that the ACO has shown consistent clinical quality improvements. Their focus on evidence-based care, along with preventive screenings and enhanced access, has significantly impacted patient experiences positively. The continual pursuit of excellence resonates through commendable patient experience scores.
Future Focus on Patient Care
WellSpan Health remains steadfast in its mission to provide exceptional patient care while responsibly managing Medicare resources. Their ongoing efforts in offering preventive care and enhancing patient experiences signify a robust future for both patients and the healthcare system at large.
Frequently Asked Questions
What is WellSpan Health's role in the Medicare Shared Savings Program?
WellSpan Health participates actively in the MSSP, focusing on reducing healthcare costs and improving service quality for Medicare beneficiaries.
How much money has WellSpan Health saved in recent years?
WellSpan's Medicare ACO has achieved cumulative savings of nearly $75 million over the last three years.
What does the Accountable Care Organization (ACO) model signify?
The ACO model emphasizes coordinated care delivery, aiming to improve patient experience while managing healthcare costs effectively.
Who oversees the operations of WellSpan’s ACO?
The ACO operates through a partnership between WellSpan Health and independent physician practices, focusing on integrated care delivery.
What strategies does WellSpan employ to enhance patient healthcare?
WellSpan invests in evidence-based care, preventive screenings, and improved access, contributing to elevated patient care standards.
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