Monday, October 10, 2022
The Beaumont Accountable Care Organization is again the top-performing ACO in Michigan in terms of earned savings generated according to the Centers for Medicare and Medicaid Services. The ACO generated $10.7 million in gross savings and earned $7.9 million for contract year 2021.
“Our strong partnerships between Beaumont Health and physicians continues to help us transform health care by improving efficiency, reducing costs and improving care,” Beaumont Health ACO Board Chairman Dr. Belal Abdallah said. “We are proud to provide the best care to patients in a cost-effective manner.”
The Beaumont ACO is a physician and health system partnership with more than 4,000 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, Beaumont ACO Executive Director and Chief Operating Officer, said, “The Beaumont ACO continues to exceed the target and create savings. We are always searching for ways to help patients manage their health by strengthening their relationships with physicians. We collaborate with physicians to improve communication and information sharing among primary care physicians, specialists and hospitals.”
This is the tenth 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.