SAN FRANCISCO, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Today at the NAACOS Fall 2021 Conference, Innovaccer Inc., the Health Cloud company, announced that MSSP ACOs using its population health management solutions on the InnovaccerⓇ Health Cloud achieved 242% generated shared savings growth in 2020 compared to 2019. That's greater than three times the 76% year-over-year (YoY) shared savings growth of other MSSP participants who did not use Innovaccer's solutions.
Innovaccer's customers achieved 395% average ACO savings growth YoY, which is 3 times greater than the 132% average YoY ACO savings growth achieved by non-customers. ACOs using Innovaccer's solutions generated $9M in shared savings on average compared to $2M average savings attained by other ACOs. Moreover, MSSP participants using Innovaccer's solutions also achieved a slightly higher average quality rating of 98.00 compared to non-Innovaccer participants' average quality rating of 97.83.
These results come from the latest Performance Year Financial and Quality Results data released by the CMS, which reported the MSSP (Medicare Shared Savings Program) overall achieved $4.37B in total generated performance payments in 2020, a 79% increase over 2019, and the highest annual generated savings since the program started in 2012. The Medicare Shared Savings Program accountable care organization (ACO) model served 10.6 million seniors in 2020, and collectively saved Medicare $4.1 billion overall and $1.9 billion after accounting for shared savings payments.
One factor that also influenced this banner year for ACO success: Last November, CMS introduced an array of temporary regulatory waivers and new rules to help the healthcare system respond to the COVID-19 pandemic. Among these were COVID-19-related policy changes related to calculation of shared losses, quality reporting, and removal of episodes of care for treatment of COVID-19 from the determination of benchmark year and performance year expenditures.
"We're really excited by the savings we were able to help our customers generate in 2020, and we congratulate each and every one of them for achieving these outstanding outcomes," says Abhinav Shashank, CEO at Innovaccer. "Our customers, many of whom are NAACOS members, are the true heroes of this story. There are so many things that go into driving these results—people, process, systems—but by using the Innovaccer Health Cloud, our customers are going about it differently. Our unified patient record transcends their data silos to put all of their data to work and give them a 360-degree patient view for truly patient-centered care. The results speak for themselves, with three times the shared savings growth and even better care quality."
To learn more about Innovaccer's industry-leading solutions for ACOs, please visit https://innovaccer.com/solutions/aco.
About Innovaccer
Innovaccer Inc., the Health Cloud company, is a leading San Francisco-based healthcare technology company committed to helping healthcare care as one. The InnovaccerⓇ Health Cloud unifies patient data across systems and settings, and empowers healthcare organizations to rapidly develop scalable, modern applications that improve clinical, operational, and financial outcomes. Innovaccer's solutions have been deployed across more than 1,000 care settings in the U.S., enabling more than 37,000 providers to transform care delivery and work collaboratively with payers and life sciences companies. Innovaccer has helped organizations integrate medical records for more than 24 million people and generate more than $600 million in savings. Innovaccer is recognized as a Best in KLAS vendor for 2021 in population health management and is the #1 customer-rated vendor by Black Book. For more information, please visit innovaccer.com.
Press Contact:
Sachin Saxena
Innovaccer Inc.
415-504-3851
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