We’re pleased to announce that LTC ACO received a positive reconciliation and settlement under the Medicare Shared Savings Program (MSSP) for the 2021 performance year, earning shared savings of $20.6 million, at the maximum Enhanced Track sharing rate of 75% of gross savings.
“Our positive results reflect the dedication of our participating providers to improving care for the unique subset of the Medicare population that resides in long-term care nursing facilities. We appreciate the trust they have put into LTC ACO to help them implement best practices and create greater value for their patients,” said Jason Feuerman, president and CEO of LTC ACO. “We couldn’t have done this without their ongoing partnership and support.”
The first Accountable Care Organization (ACO) in the U.S. dedicated to long-term care facility residents, LTC ACO achieved the highest shared savings distribution per beneficiary for 2021. At $2,574, this is the second time in three years the organization achieved this milestone while working in partnership with participating primary care practitioners and long-term care facilities to dramatically improve the quality of care for our nation’s most vulnerable patient population.
During 2021, LTC ACO managed more than 8,000 Medicare fee-for-service beneficiaries under the MSSP with annualized Medicare spend of more than $200 million. The ACO generated $28 million in gross savings, ranking it 30th in gross savings among all ACOs. Its gross savings per beneficiary was $3,500, while the previous 29 ACO averaged roughly $593 per beneficiary.
“2021 was our sixth performance year and with each year we’ve gained additional insight and experience, enabling us to execute with predictability and confidence," said Feuerman. “Looking to the future, we are excited about new clinical initiatives, including introducing comprehensive, coordinated approaches to advanced care planning and palliative care, medication management to reduce avoidable hospitalizations, and enhanced clinical analysis, insights and reporting.”