Triad HealthCare Network Delivers High Quality Care and Saves Millions for Medicare
The Cone Health accountable care organization remainsat the forefront of value-based care.
Greensboro—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 workin the Centers for Medicare and Medicaid Services’ Next Generation Accountable Care OrganizationModel.
THN is an accountable care organization(ACO)serving patients across Greensboro and the greater PiedmontTriadarea. It isphysician-led and partnerswith Cone Health. The network of approximately 2,000 health care providersaims to keep patients healthy primarily through prevention, innovation, care coordinationand informationsharing. While THN providers see all patients, this $13.2 million-dollarpayment reflects the savings for traditional Medicare patients through the Next Generation ACO Model.The Next Generation ACO Modelsets abudget 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 paysthe difference. Numerous studies show that this approach hasimproved patient care and produced hundreds of millions of dollars in savings.THN will reinvest part of the $13.2 millionback to further improve health care.A portion ofthe money will be usedas performance incentives for physicians and others whopartner with Cone Health andTHN.Last year, THN earned $10.7 million through the Next Generation ACOModel. “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 leadingaccountable 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 programsand initiatives. However, the Next Generation Modelis considered among the most progressive ACO models in terms of the amount of risk providers take on in order to participate.