ACOs Generated $454 Million in Savings in 2019 Across Medicare, Commercial, and Employer Contracts With Innovaccer's Data Activation Platform
SAN FRANCISCO, September 30, 2020 (Newswire.com) - Innovaccer, Inc., a leading healthcare technology company, announced today that its partner Accountable Care Organizations (ACOs) generated over $454 million in total healthcare savings in the performance year 2019.
With its innovative FHIR-enabled Data Activation Platform, the company assisted its partner Medicare Shared Savings Program (MSSP) ACOs in boosting the average quality score from 92.71% in the performance year 2016 to 94.66% in 2019. Partner ACOs were able to show this improvement by unifying their healthcare data from disparate sources using the platform to capture out-of-network patients. Using the platform’s point-of-care alerts, the providers closed gaps at the moment of care. Innovaccer’s MSSP ACO partners provided high-quality and efficient care to over 465,000 Medicare beneficiaries. This is the fourth year in a row that its partner ACOs have earned one of the highest shared savings. Interestingly, independent physician-led ACOs generated 40% more savings than the health system-backed ACOs on a per member per year (PMPY) basis.
“We are extremely proud and thrilled with the overall ACO savings results. It is an honor for us to assist our ACO partners in generating over $454 million in healthcare savings. With the average MSSP quality score of 94.66%, the results achieved by our ACO partners are a true reflection of our commitment to 100% customer satisfaction,” says Kanav Hasija, Chief Customer Officer, Innovaccer, Inc.
The company has been assisting healthcare organizations to care as one with its proprietary FHIR-enabled Data Activation Platform. Innovaccer delivers unified patient records on the data platform that connects analytic insights, automation, and applications for physicians, payers, employers, patients, and other stakeholders to support them throughout the care experience.
“Value-based care is the future of healthcare, and ACOs are the flag bearers of value-based care. The success of ACOs is directly related to the success of U.S. healthcare,” says Abhinav Shashank, Chief Executive Officer at Innovaccer. “It is a moment of great satisfaction to witness yet another year of ground-breaking achievements by our ACO partners. These outcomes are a validation to our mission of helping healthcare care as one. We are looking forward to continuing to build on this mission with our Data Activation Platform.”
About Innovaccer
Innovaccer, Inc. is a leading San Francisco-based healthcare technology company committed to making a powerful and enduring difference in the way care is delivered. The company leverages artificial intelligence and analytics to automate routine workflows and reduce manual overhead to facilitate more person-centered care. Its KLAS-recognized products have been deployed all over the U.S. across more than 1,000 locations, enabling more than 37,000 providers to transform care delivery and work collaboratively with payers. Innovaccer’s FHIR-enabled Data Activation Platform has been successfully implemented with healthcare institutions, private health plans, and government organizations. By using the connected care framework, Innovaccer has unified records for more than 24 million members and generated more than $600M in savings.
For more information, please visit innovaccer.com.
Press Contact:
Sachin Saxena
Innovaccer, Inc.
415-504-3851
Source: Innovaccer