Sound Physicians’ ACO Achieves $22.9M Total Savings in 2023 Medicare Shared Savings Program
Ranks in Top 10 Percent of Total Shared Savings
TACOMA, WA / ACCESSWIRE / November 21, 2024 / Sound Long-Term Care Management (SLTCM), an accountable care organization (ACO) and part of Sound Physicians, is proud to announce that it has achieved $22.9M in total shared savings during its inaugural year in the Medicare Shared Savings Program (MSSP). These results place our organization among the top 10 percent of ACOs nationwide. This significant accomplishment underscores SLTCM’s dedication to enhancing access to high-quality care and improving health outcomes for one of the nation’s most at-risk populations: patients in long-term care and assisted living facilities.
In its inaugural performance year, SLTCM was able to:
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Decrease patient emergency department visits by 8 percent
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Decrease emergency department to hospital admissions by 9.4 percent
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Decrease short-term hospitalizations by 10.9 percent
Due to the complexity and acuity of long-term care patients, our population also had the highest cost per beneficiary compared to other patients in Medicare ACOs. Even so, SLTCM achieved the top 6 percent of shared savings for first-year ACOs and top 10 percent in total shared savings, which placed SLTCM in fifth place nationally for per beneficiary per year (PBPY) savings.
“Our ACO model prioritizes the needs of Medicare’s most vulnerable and highest-acuity populations,” said Mike Camacho, President of Accountable Care for Sound Physicians. “By combining clinical expertise, facility partnerships, advanced data analytics, and innovative technology, we’re driving substantial improvements in care quality for these patients.”
SLTCM patients are battling septicemia, dementia, and other catastrophic diseases at a rate 11 to 15 times greater than the average Medicare beneficiary. Despite these challenges, SLTCM’s collaborative approach with providers and facilities demonstrates the potential to significantly impact patient care. With physicians leading SLTCM, every administrative need and care protocol is built on data, research, and expertise to maximize results in real-world care settings. The impact of SLTCM’s dedicated clinical team is evident in both patient outcomes and the savings they are able to achieve.
“Our support of provider and facility partners has transformed patient care in the long-term care setting,” said Dr. Tom Kim, Chief Medical Officer for SLTCM. “We are deeply committed to advancing the quality of long-term care, and these results show that our collaborative approach is making a tangible difference in patients’ lives.”
As part of Sound Physicians, a nationwide physician-led multispecialty medical group, SLTCM leverages decades of expertise providing high-quality, cost-effective care to support physicians’ and facilities’ successful participation in value-based care programs.
About Sound Long-Term Care Management, a Sound Physicians’ ACO
Sound Physicians’ Long-Term Care Management ACO is a Medicare Shared Savings Program focused exclusively on Medicare beneficiaries living in long-term care and assisted facilities. With strong, dedicated physician leadership and deep roots in value-based care, SLTCM is committed to bringing better quality of care and satisfaction to patients and better financial performance through deep investments in our people, partners, and technology – including telemedicine as a key component to connect patients with the care they need.
Contact Information
Anni Lange
Vice President of Communications and Marketing
alange@soundphysicians.com
SOURCE: Sound Physicians
View the original press release on newswire.com.
