GREENVILLE, S.C. (Nov. 15, 2017)— The Centers for Medicare & Medicaid Services (CMS) recently announced the 2016 performance year results for accountable care organizations (ACO), and MyHealth First Network (MyHFN), which includes many Greenville Health System providers, generated more than $21.6 million in Medicare savings in 2016.
MyHFN was among 31 percent of accountable care organizations generating Medicare savings in 2016 while improving the quality of care for nearly 60,000 Medicare beneficiaries.
“For the second year in a row, MyHealth First Network was successful at generating an impressive amount of shared savings,” said Angelo Sinopoli, MD, president of MyHFN. “I am proud of our achievements and the hard work and dedication of our members toward delivering better care, spending dollars more wisely and helping improve the overall health of our community. We are truly a network of providers and practices that see the future of healthcare and share a vision to enhance the quality of life for every patient.”
Nationally, 134 of 432 ACOs saved more than $700 million in 2016.
MyHFN achieved $17 million in savings during the 2015 performance year, its first year in the Medicare Shared Savings Program.
Medicare ACOs are groups of doctors, hospitals, and other healthcare providers, who come together voluntarily to provide coordinated high-quality care to their Medicare patients. The goal of coordinated care is to ensure that patients, especially the chronically ill, get the right care at the right time while avoiding unnecessary duplication of services and preventing medical errors.
GHS has been part of MyHFN since the network began in 2014.
“Our partnership with the MyHealth First Network assists us in transforming health care for the people and communities that we serve,” said James Ellis, MD, GHS vice president of clinical affairs and clinical chief of staff. “We look forward to continuing to make a difference in the lives of our patients while improving the health of people across the Upstate.”
About Greenville Health System
Greenville Health System (GHS) — an academic health system that is the largest not-for-profit healthcare delivery system in South Carolina — is committed to medical excellence through research, patient care and education. GHS offers patients an innovative network of clinical integration, expertise and technologies through its eight medical campuses, tertiary medical center, research and education facilities, community hospitals, physician practices and numerous specialty services throughout the Upstate. The 1,358-bed system is home to 15 medical residency and fellowship programs. GHS is also home to the University of South Carolina School of Medicine Greenville, a joint effort of USC and GHS. Visit ghs.org for more information.
About MyHealth First Network
MyHealth First Network (MyHFN) is a clinically-integrated network of physicians and healthcare providers who share a common goal of improving health outcomes, reducing healthcare costs and enhancing the patient experience. The network is led by a 12-member Board of Managers who provides leadership and oversight for the network, as well as a number of committees whose focus is on improving and standardizing care. More than 2,000 healthcare providers across 11 counties in the Upstate of South Carolina currently participate in the network. These counties include Abbeville, Anderson, Greenville, Greenwood, Laurens, McCormick, Newberry, Oconee, Pickens, Saluda and Spartanburg.