More Than $12B Worth Potential Savings ACOs Can Generate; Innovaccer's 'ACO Advisor' Launched to Assist ACOs Tap Into Undiscovered Opportunities
The product leverages CMS-reported data to help ACOs identify opportunities to enhance their savings and clinical outcomes.
SAN FRANCISCO, July 12, 2018 (Newswire.com) - Despite the numerous interventions by the government to reinforce value-based care, the transformation of the healthcare ecosystem has been slow. As of 2018, there are around 400 ACOs under Medicare Shared Savings Programs alone, and only 31 percent of them could generate shared savings.
Additionally, ACOs are under immense pressure with an increased shift towards assuming more financial accountability. The reality is that every year ACOs end up leaving money on the table due to lack of awareness about savings and revenue opportunities. As per the analysis of 2016 MSSP ACO performance data, an average ACO with 18,000 beneficiaries could save approximately $2,000 per beneficiary if major savings opportunities were tapped. More importantly, these entities can increase revenues if they were to gain an understanding of network leakages and how to control them.
To help ACOs uncover opportunities and untapped potential, Innovaccer, a San Francisco-based leading healthcare data platform company, has announced the launch of ACO Advisor. Analysis shows that of $12B potential savings opportunity, ACOs across the U.S. can save $3B by just reducing unnecessary ED visits.
It has been six years since the ACO program was started, but still most of them are leaving money on the table by not assuming enough risks. And these dollar values are mostly associated with utilization rate, network coordination, and timely engagement of care teams and patients. We leveraged our pioneering technology to pave an outcomes-oriented road map for ACOs. With our latest ACO Advisor, we aim to provide ACOs with foresight to tap into potential savings and growth opportunities
The product is freely available for ACOs to identify the opportunities on critical measures and evaluate the savings and revenue related to each of them. In addition to this, ACOs can also download personalized, extensive report on major cost drivers having the most impact on their performance and outcomes.
Following are some of the metrics which have the most impact on savings potential and revenue improvement and are reflected in MSSP contracts. These metrics are also included in the product:
Innovaccer’s ACO Advisor also highlights how ACOs can create impact at scale on shared savings and revenue sources in both short and long-term. Using this information, ACOs can build a strategic roadmap with Innovaccer’s ACO expert team comprising:
Kanav Hasija - Chief Product Officer and Co-Founder at Innovaccer, Member of Academy of Management and Samsung-Stanford Patent Prize Awardee
David K. Nace, MD - Chief Medical Officer at Innovaccer; Ex-Chairman of the Board at Patient-Centered Primary Care Collaborative, Ex VP of Population Health at McKesson Corporation, Ex - SVP at the United Health Group, and VP/Chief Medical Officer at Aetna
Paul Grundy, MD - Distinguished fellow at Innovaccer; Godfather of the Patient-Centered Medical Home movement and member of the Institute of Medicine
Andrew Behan - Regional Director Customer Success at Innovaccer, Ex - Dir. Payer and Provider Engagement University of Iowa Health Alliance.
Dr. Vibhuti Agrawal - Director Analytics at Innovaccer, Ph.D. - Biological Engineering MIT Labs.
“It has been six years since the ACO program was started, but still most of them are leaving money on the table by not assuming enough risks. And these dollar values are mostly associated with utilization rate, network coordination, and timely engagement of care teams and patients,” says Abhinav Shashank, CEO & Co-founder at Innovaccer. “We leveraged our pioneering technology to pave an outcomes-oriented roadmap for ACOs. With our latest ACO Advisor, we aim to provide ACOs with foresight to tap into potential savings and growth opportunities,” he added.
Access ACO Advisor here: https://opportunity.innovaccer.app
Innovaccer Inc. is a leading healthcare data platform company focused on delivering more efficient and effective healthcare by combining pioneering analytics with transparent, and accurate data. Innovaccer’s aim is to simplify complex data from all points of care, streamline the information, and help organizations realize strategic goals based on key insights and predictions from their data. Its products have been deployed across more than 500 locations with over 10,000 providers leveraging it at institutions, governmental organizations, and several corporate enterprises such as Mercy ACO, StratiFi Health, UniNet Healthcare Network, Catalyst Health Network, and Osler Health Network. Innovaccer is based in San Francisco with offices around the United States and Asia.
For more information, please visit innovaccer.com.