SAN FRANCISCO, Oct. 2, 2018 /PRNewswire/ -- Innovaccer, the leading San Francisco-based healthcare data platform company, proudly announced the success of its partner accountable care organizations (ACOs) that achieved over $264 million in savings across 1 million managed lives. The data has been gathered from different commercial insurance providers and the Medicare Shared Savings Program performance data for 2017.
According to CMS's results, ACOs in P.Y. 2017 have achieved about $314 million in Medicare savings. More than 60 percent of the 472 ACOs participating in the shared savings program generated savings and the future of accountable care only looks promising. While only 34 percent of ACOs could generate enough savings to earn bonus payment, the number is significantly higher from 56 percent of ACOs generating savings and 31 percent earning bonuses in 2016.
Innovaccer assists over 10,000 providers in driving efficiency in care with the power of data. With a unified healthcare data platform integrating different practices and powering care initiatives, Innovaccer's partner ACOs continue to enhance their clinical and financial outcomes with a data-first approach.
"Inmediata Health Group provides software and services to over 10,000 customers in the healthcare market. Inmediata supports providers in Puerto Rico, which is the market with the highest penetration of managed care in the United States. Inmediata leverages Innovaccer's population health analytics and care management platform to support its care coordination service to primary care physicians with Medicare Advantage patients. These physicians are typically capitated under risk arrangements with quality incentives. Combining Inmediata's significant cache of financial and clinical data with the Innovaccer's solution has allowed us to make real improvements in PCP's Star ratings and MLR," said Mark W. Rieger, President and CEO at Inmediata Health Group.
Along with cumulatively generating over $264 million in savings, the success of the partner ACOs also includes being the highest savings per beneficiary in the Midwest and east coast region for several commercial payers.
"We have used other systems that required our team months of prep work to get data formatted and ingested into their system. Innovaccer has cut that down to a couple of weeks. We were never able to integrate clinical data. The ability to aggregate clinical and claims data is a game changer for us. Having a dedicated account manager from Innovaccer on-site to answer questions, help us better understand the system, and generate reports has helped us rapidly get up in running," said Dr. Henry Sakowski, CMO at UniNet.
The results are also a testimony of how Innovaccer's ACO partners deliver efficient care to over 1 million patients. This win can directly reflect on the improvements across critical metrics such as ED visits per 1,000, annual wellness visits, 30-day readmission rates, and more.
"These great outcomes show that ACOs have turned the corner and if there was ever a confusion about ACO performance, these results dismiss that. They also confirm that actionable insights lead to great care and effective population health management, which ultimately translates into great outcomes," said Abhinav Shashank, CEO and Co-founder at Innovaccer Inc. "We congratulate our partners on being the frontrunners in accountable care and are proud to be associated with them in improving health and wellness. We hope to deliver even better results time and again!"
Along with their entire suite of solutions centered around value-based care, Innovaccer also provides consultation and support for organizations and physician groups aiming to become an MSSP ACO. Innovaccer provides consultation on the legal and the technical requirements to participate in the Medicare Shared Savings Program and also assists the aspiring ACOs in operationalizing their initiatives.
Innovaccer will be exhibiting their healthcare data platform, InData along with their existing suite of solutions at the upcoming NAACOS Fall 2018 Conference in Washington, D.C. Join Team Innovaccer at booth #11 from Oct. 3 to Oct. 5, and experience the products first-hand.
Innovaccer Inc. is a leading healthcare data platform company focused on delivering more efficient and effective healthcare by combining pioneering analytics with transparent, and accurate data. Innovaccer's aim is to simplify complex data from all points of care, streamline the information, and help organizations realize strategic goals based on key insights and predictions from their data. Its products have been deployed across more than 500 locations with over 10,000 providers leveraging it at institutions, governmental organizations, and several corporate enterprises such as Mercy ACO, StratiFi Health, UniNet Healthcare Network, Catalyst Health Network, Hartford Healthcare, and Osler Health Network. Innovaccer is based in San Francisco with offices around the United States and Asia.
For more information, please visit innovaccer.com.