Mercy's Innovative Care Strategy Saved Over $100 Million Annually
Mercy Demonstrates High-Quality Care That Affects Savings
In recent evaluations, it has become evident that providing high-quality healthcare not only enhances patient well-being but also leads to significant savings for taxpayers. Recent results regarding Accountable Care Organizations (ACOs) have shown Mercy's outstanding performance in this regard.
Achievements in Patient Care and Savings
Mercy's ACO stands among the top five organizations in the nation, successfully serving a vast number of patients. With savings totaling $103 million, Mercy has demonstrated its ability to generate substantial taxpayer savings. Among the ten largest comparable ACOs in the USA, Mercy has achieved the third-highest quality of care, outpacing others in the communities it serves.
Quality Measures Tracking
The Centers for Medicare & Medicaid Services (CMS) actively monitors over thirty quality measures concentrating on several crucial areas. These include care coordination, patient safety, effective use of preventive health services, improved care for at-risk populations, and the overall patient and caregiver experience.
Patient-Centric Approach
Dr. Gavin Helton, President of Primary Care at Mercy, emphasizes the importance of putting patients first. "We strive to ensure patients remain healthy and minimize hospital visits. High-quality care not only results in better health outcomes but also ultimately lowers healthcare costs for everyone involved," he stated.
Financially Sustainable Healthcare Solutions
The recalibration of savings announced by CMS showcases an adjustment that grants an additional $1 million in savings for Mercy's ACO. For the current fiscal year, Mercy's ACO succeeded in saving taxpayers $103 million, a remarkable increase of $8 million from the previous year. Over the past seven years, Mercy's ACO has remarkably accrued total savings of $463 million.
Commitment to Preventive Care
Steve Mackin, Mercy's President and CEO, highlighted the critical role preventive care plays in their healthcare model. "Our dedication to primary care is paramount as we aim to keep our patients healthy and thriving. The benefits of our ACO system can be seen widely among our Medicare patients and extends to over three million patients cared for annually across the vast communities we serve," he explained.
History and Evolution of Mercy's ACO
More than a decade ago, Mercy's physicians took the initiative to participate in the ACO framework, focused on enhancing coordination for Medicare beneficiaries while aiming to cut unnecessary expenses. To maintain the ACO designation, Mercy is diligent in scoring highly on varied quality metrics while continuing to provide efficient, team-based care.
The Scope of Mercy's Services
Mercy is not only one of the largest healthcare systems in the United States but has also been recognized as the leading system for superior patient experiences. Serving millions annually, Mercy excels in quality care through its comprehensive network, which includes 50 acute care and specialized hospitals, numerous urgent care centers, outpatient clinics, and pharmacies. This integrated system is supported by a team of over 5,000 physicians and advanced practitioners, aided by more than 50,000 staff members dedicated to patient service.
Community Engagement and Support
In the fiscal year 2024, Mercy has provided nearly half a billion dollars in charitable care and community benefits, which encompasses various forms of community support including unreimbursed Medicaid and traditional charity care initiatives. This emphasis on community service reflects Mercy's commitment to not only medical excellence but also to societal well-being.
Frequently Asked Questions
What is an Accountable Care Organization (ACO)?
An ACO is a group of healthcare providers that work together to provide higher quality care to patients while reducing unnecessary costs.
How does Mercy rank in terms of quality care?
Mercy ranks among the top five ACOs in the United States, particularly noted for its quality of care within the communities it serves.
What savings did Mercy achieve in the last fiscal year?
In the last fiscal year, Mercy's ACO achieved savings totaling $103 million, which is an increase from previous years.
What approach does Mercy take to patient care?
Mercy emphasizes a patient-first approach, focusing on preventive care and coordinated treatment to ensure longer-term health outcomes.
How has Mercy supported its communities?
Mercy has committed nearly half a billion dollars in community benefits, reflecting its dedication to providing extensive care and support.
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