Monday, October 07, 2019
The Beaumont Accountable Care Organization is the top-performing ACO in Michigan and the fifth best in the country, according to the Centers for Medicare and Medicaid Services. The ACO generated $45.1 million in gross savings for contract year 2018.
The Beaumont ACO is a physician and health system partnership with more than 1,700 physician members. It is built on the guiding principles of trust, transparency and physician leadership. This partnership has allowed physicians and hospitals to share in cost savings resulting from their efforts to improve patient care and outcomes.
Walter Lorang, Executive Director and Chief Operating Officer, Beaumont ACO, said, “We continue to focus on ways to help patients manage their health. Our collaboration with physicians has helped us improve communication and information sharing among primary care physicians, specialists and hospitals.”
This is the sixth consecutive year the Beaumont ACO achieved significant cost savings, dating back to its origin as the Oakwood ACO. ACOs must meet financial and quality targets set by Medicare to achieve shared savings.
“Our strong partnerships with physicians have allowed us to improve efficiency, reduce costs and improve care,” Beaumont Health Vice President, Managed Care & Accountable Care Services Ryan Catignani added. “Our goal is to provide the best care to patients, help reduce costs and improve outcomes.”