The Garage's MSSP ACO Partners report $88 Million in Gross Medicare Savings in 2022
Orlando, FL (August 28, 2023) - The Garage, an innovative population health management technology company located in Orlando, FL, has helped its MSSP ACO partners achieve $88 million in gross Medicare savings in 2022, the company announced today.
In addition, The Garage's accountable care organization (ACO) partners using the company's Bridge platform received an average quality score of 81% and a 10% increase in per capita gross savings. Notably, 65% of The Garage's participating entities have generated savings.
The impact of The Garage's efforts is evident as more than 140+ accountable care organizations (ACOs), independent physician associations (IPAs), and other value-based care providers across 34 states now use The Garage's Bridge population health management platform. This collaboration spans a network of over 19,500 providers dedicated to improving patient care.
Keyla Acevedo, ACO Director of Operations at Votion states, "The Garage Portal allows us to manage our Medicare population and transform value-based care by using the data to plan or strategize with our clinics how to lower the cost of care, patient attribution, quality measures performance and completion as well as tracking or monitoring hospital admissions. We work closely with the Garage Team to create a platform that adapts to our clinic needs."
ACOs, composed of groups of doctors, hospitals, and other providers, come together to take accountability for the cost and quality of care of patients. They earn the right to share with Medicare savings generated if specific spending and quality metrics are met. The program aims to encourage value-based care, wherein reimbursement to providers is based on the caliber of care extended, as opposed to sheer volume in the former fee-for-service (FFS) model. Value-based care results in better health outcomes, improved patient care, and reduced overall costs.
"We are proud to see the growth of the MSSP program over the last decade. We are deeply committed to its success and the cumulative gross savings of $800M over the last seven years by our ACO partners is a testament to that. PY 2022 results is a landmark milestone for VBC industrywide and we believe it will lead to more democratization of the ACO model in the coming years," said Pranam Ben, Founder and CEO of The Garage.
As of August 2023, Shared Savings Programs ACOs, as the Centers for Medicare and Medicaid Services (CMS) reported, boast participation from over 700,000 clinicians who provide care to almost 13 million patients with Medicare coverage. With the evident success and potential to improve patient care within the Medicare and healthcare landscape, CMS has set a goal that 100% of its Medicare program recipients will participate in accountable care organizations by 2030.
About The Garage
Based in Orlando, Florida, the Garage is a population health management technology company dedicated to changing healthcare for good... one community at a time. The company works with more than 140+ healthcare organizations and 19,500+ providers across 34 states. Through its collaborative population health management platform, Bridge, the Garage touches more than 15.5 million patient lives, allowing providers to achieve the Quadruple AIM of lower cost, better care, improved health, and improved work-life of healthcare providers. For more information, visit www.theGarage.health, and follow The Garage on Facebook, Twitter, and LinkedIn.
Manager, Marketing & PR