Oct. 7, 2019— Westmed Medical Group, an award-winning multispecialty medical practice based in Purchase, NY, announced today that it has saved the Centers for Medicare and Medicaid Services (CMS) more than $15.3 million in 2018. These savings come as a result of Westmed’s provision of high quality, integrated health care to more than 15,000 Medicare beneficiaries receiving care at Westmed.
Westmed is one of only 548 Accountable Care Organizations (ACOs) in the country, whose health care providers participate in the Medicare Shared Savings Program (MSSP) in order to improve the quality of care for Medicare beneficiaries, while reducing unnecessary costs in the system.
According to the CMS Medicare Shared Savings Report for Accountable Care Organizations in the 2018 Performance Year, Westmed ranked within the top 6% nationally for total savings generated, compared to the MSSP benchmark. As an early adopter of the program, Westmed Medical Group joined the MSSP in 2013 and has achieved savings consistently each year, generating more than $40 million in cumulative financial savings for CMS.
“We are delighted to learn that we have delivered significant savings for CMS once again,” said Anthony Viceroy, CEO of Westmed Medical Group. “These results reflect our ongoing commitment to integrated and coordinated care at Westmed. Our medical practice has more than 500 primary and specialty care providers who are leading the way in proactive health management, by using a collaborative and team based approach at all levels of the organization. Through this strategy, Westmed ensures continuous improvement in quality patient care, while streamlining processes and reducing unnecessary costs.”
ACOs are groups of doctors, hospitals and health care providers that partner with CMS in a shared effort to slow the growth of health care costs and improve the overall quality of patient care in the US. This program is paving the path towards improving the health care system by shifting its focus to the value of health care versus the volume of services provided. ACOs, such as Westmed Medical Group, are able to share in the generated savings with CMS, when they meet quality and savings targets.
“New initiatives, such as our Complex Care Department, focus on our most vulnerable and high risk patients to improve patient safety, and reduce hospital admissions which impacts overall cost of care,” said Steven Meixler, Medical Director of Westmed Medical Group.
Viceroy affirms, “Since Westmed’s inception, our focus has always been on the delivery of superior patient-centered care. We are excited to announce that as of July 1st, 2019, we elected to participate in the CMS Enhanced ACO Program, which will now include two-sided risk. We believe in our ability to deliver on better patient outcomes and greater efficiencies.”