Triad HealthCare Network Delivers High Quality Care and Saves Millions for Medicare
The Cone Health accountable care organization remains at the forefront of value-based care.
Triad HealthCare Network (THN) will receive $13.2 million for reducing the costs of caring for traditional Medicare patients while keeping the quality of care high. The money is earned through THN’s work in the Centers for Medicare and Medicaid Services’ Next Generation Accountable Care Organization Model.
THN is an accountable care organization (ACO) serving patients across Greensboro and the greater Piedmont Triad area. It is physician-led and partners with Cone Health. The network of approximately 2,000 health care providers aims to keep patients healthy primarily through prevention, innovation, care coordination and information sharing. While THN providers see all patients, this $13.2 million-dollar payment reflects the savings for traditional Medicare patients through the Next Generation ACO Model.
The Next Generation ACO Model sets a budget for ACOs to care for a large group of Medicare patients. In order to be eligible for any possible payment, ACOs must submit quality measurements across multiple areas. These include patient satisfaction, disease management, care coordination and preventative care. If the ACO provides high-quality care for less than the government budgeted, the ACO shares the savings. If the care costs more, the ACO pays the difference. Numerous studies show that this approach has improved patient care and produced hundreds of millions of dollars in savings.
THN will reinvest part of the $13.2 million back to further improve health care. A portion of the money will be used as performance incentives for physicians and others who partner with Cone Health and THN.
Last year, THN earned $10.7 million through the Next Generation ACO Model. “This is once again proof that keeping people well is the best way to lower health care costs,” says Steve Neorr, senior vice president, population health, THN. “THN is proud to be one of the leading accountable care organizations in the country in lowering health care costs in our communities by focusing on wellness and well-being.”
THN is one of only 51 ACOs in the country selected by Medicare to participate in the Next Generation ACO Model. There are many ACOs in other CMS programs and initiatives. However, the Next Generation Model is considered among the most progressive ACO models in terms of the amount of risk providers take on in order to participate.