SOUTHFIELD, Mich., Sept. 22, 2020 /PRNewswire/ -- The Beaumont Accountable Care Organization is again the top-performing ACO in Michigan in terms of savings percentage generated and one of the best in the country, according to the Centers for Medicare and Medicaid Services. The ACO generated $27.8 million in gross savings for contract year 2019.
"Strong partnerships between Beaumont Health and physicians has helped us transform health care by improving efficiency, reducing costs and improving care," Beaumont Health ACO Board Chairman Dr. Belal Abdallah said. "We always strive to provide the best care to patients in a cost-effective manner."
The Beaumont ACO is a physician and health system partnership with more than 1,900 physician members. It is built on the guiding principles of trust, transparency and physician leadership. This partnership has allowed physicians and hospitals to share in cost savings resulting from their efforts to improve patient care and outcomes.
Walter Lorang, Beaumont ACO Executive Director and Chief Operating Officer, said, "Our benchmark for success was raised by CMS in 2019 and I am proud the Beaumont ACO continues to exceed the target and create savings in the program. While many ACOs have begun to drop out of the program or struggle to meet the new targets, our performance has elevated. We are always searching for ways to help patients manage their health by strengthening their relationships with physicians. We collaborate with physicians to improve communication and information sharing among primary care physicians, specialists and hospitals."
This is the seventh consecutive year the Beaumont ACO achieved significant cost savings, dating back to its origin as the Oakwood ACO. ACOs must meet financial and quality targets set by Medicare to achieve shared savings.