KentuckyOne Health Partners is our provider-based, physician-led clinically integrated network. Dr. James Fitzpatrick, a KentuckyOne Health Medical Group and Partners board member said, “In August, we were pleased to announce that KentuckyOne Health Partners was among 353 accountable care organizations (ACOs) that generated $411 million in savings, according to the 2014 quality and financial performance results released by the Centers for Medicare & Medicaid Services (CMS).”
Through the hard work of our clinical providers and the care management teams, the collective organization surpassed the threshold for high-quality care and reduced inefficiencies, resulting in lower spending of health care dollars. This means that the eligible KentuckyOne Health Partners clinical providers will share in the savings generated for Medicare.
Dr. Damian “Pat” Alagia, KentuckyOne Health physician executive and KentuckyOne Health Partners 2014-15 board chair, jubilantly acknowledged, “KentuckyOne Health Partners clinical providers and care management teams increased the Aggregate Quality Score and made a dramatic improvement in the safety and quality of care we provide patients. By doing so, waste was reduced and efficiency enhanced. This improved the timeliness of care for our patients and contributed to a ‘better experience’ for them and their families.”
The improved quality and service of the care provided by KentuckyOne Health Partners clinical providers and care management teams has the downstream impact of reducing inefficiency and cost. In 2014, we saved Medicare $5.6 million and generated a shared savings to KentuckyOne Health Partners of $2.1 million. Per applicable federal guidelines, some of these shared savings funds will cover KentuckyOne Health Partners operating expenses, including our sophisticated care management information system and care management staff costs. The remaining savings will be allocated by board recommendation to eligible clinical providers that participated in this program.
Congratulations to all participating providers and the care management teams for your efforts to provide better care, better health and a better experience at a lower cost for all patients. Through our progressive, value-based approach and our advanced care management strategies, we are all making a difference in the lives of those we serve.