Center for Medicare and Medicaid Services Determines 9% Reduction in Cost from 2015
(Chicago, Ill.) The Centers for Medicare and Medicaid Services (CMS) has announced Medicare Value Partners (MVP), the ACO Illinois Catholic health care system Presence Health participates in, achieved a 9% reduction in cost over the 2015 baseline for Performance Year (PY) 2016. This resulted in a contribution of over $13 million to savings, as well as an earned shared savings of over $6 million.
Presence Health PY2016 goals centered on optimizing strategies that prioritized high-quality, cost-effective care. These strategies improved quality performance and health care savings for the health system’s 31,880 beneficiaries. Preliminary analysis further shows reductions in medical expenses for skilled nursing, inpatient hospital and home health, which were achieved by directing services to appropriate sites of care. Driven by the partnership between Presence Health ministries and the providers, MVP succeeded in providing quality health care in a coordinated, cost-efficient manner while maintaining patient satisfaction.
Regarding the positive CMS announcement, Presence Health President and CEO Mike Englehart said, “These results clearly indicate that Presence Health, in participation with MVP, is successfully managing valued-based care models by meeting the specific population health needs of the patients in the communities we serve.”
About Presence Health
Presence Health is one of the largest Catholic health systems in Illinois, providing compassionate care to over 4 million people. With over 150 sites of care including 10 hospitals, over 15,000 associates and more than 4,000 medical professionals, Presence Health has annual revenue of $2.6 billion.