MAYWOOD, Ill., Jan. 12, 2016 /PRNewswire-USNewswire/ -- Loyola Physician Partners, as a member of Trinity Health and the Trinity Health ACO, has been selected to participate in the Centers for Medicare & Medicaid Services's (CMS) Next Generation ACO Model (NGACO Model). The model advances the
administration's health care system goals and builds on experience from the Pioneer ACO Model and the Medicare Shared Savings Program.
Through this new model, CMS will partner with Loyola Physician Partners through the Trinity Health ACO and with other ACOs to assume higher levels of financial risk and reward. The initiative is expected to result in better health, better care and lower costs and to impact individuals as well as whole communities.
Loyola Physician Partners, solely owned by Loyola University Health System, is a network which includes Loyola University Medical Center, Gottlieb Memorial Hospital, Palos Community Hospital and participating members of their medical staffs.
"This is really an honor for Loyola Physician Partners and all of the NGACO Model participants, because it recognizes our expertise in coordinating care for populations of patients as well as the readiness of our providers to take the lead and innovate care delivery," said Keith Veselik, MD, Medical Director. "We look forward to celebrating the improved health and wellness of the people and communities we serve."
Lori Price, MSA, RN, President, Gottlieb Memorial Hospital, said, "Gottlieb Memorial Hospital looks forward to participating in this exciting collaborative effort because initiatives like this allow us to achieve our mission of providing quality health care to our patients."
Terrence Moisan, MD, CEO, Palos Community Hospital, added: "On behalf of Chicago Health Colleagues, our clinically integrated network, and the members of our medical staff, Palos Community Hospital is proud to be a part of the Next Generation ACO Model in collaboration with the Loyola Physician Partners. This initiative is focused on improving continuity and coordination of care consistent with our goals of assuring improved patient experience and better outcomes of care."
The NGACO Model is tied to the Department of Health and Human Services' goal of tying 30 percent of traditional, or fee-for-service, Medicare payments to alternative payment models, such as ACOs, by the end of 2016, and tying 50 percent of payments to these models by the end of 2018.
Since Medicare Shared Savings Program and Pioneer ACOs began in 2012, and now, the Next Generation ACOs - Medicare ACOs have grown to over 450 nationwide, serving nearly 8.9 million beneficiaries. The results from the past 5 years have demonstrated that as ACOs gain more experience in these programs, their performance improves in providing better quality of care for beneficiaries, while producing savings.
The 21 ACOs participating in the NGACO Model in 2016 have significant experience coordinating care for populations of patients through initiatives, including, but not limited to, the Medicare Shared Savings Program and the Pioneer ACO Model. The NGACO Model organizations represent a variety of provider organizations and geographic regions, and were selected by fulfilling specific eligibility criteria outlined in the Request for Applications found at the Next Generation ACO Model web page. These organizations were selected through an open and competitive process from a large applicant pool that included many qualified organizations.
For more information on the Next Generation ACO Model, please visit the Next Generation ACO Model web page https://innovation.cms.gov/initiatives/Next-Generation-ACO-Model/ or the Trinity Health ACO web page at http://www.trinity-health.org/aco. For more information about Trinity Health, please visit www.trinity-health.org.
This news release was issued on behalf of Newswise(TM). For more information, visit http://www.newswise.com.
Contact: Jim Ritter, 708-216-2445, firstname.lastname@example.org
SOURCE Loyola University Health System