Montefiore Medical Center announced in a July news release that it has improved quality, outcomes and cost of care for Medicare patients as part of the Pioneer Accountable Care Organization Model.
Montefiore, located in the Bronx, generated substantial savings to the Medicare program and achieved the highest financial performance among the 32 Pioneer ACOs, according to initial data reported by the Centers for Medicare and Medicaid Services Innovation Center.
We are pleased to have been able to demonstrate to the nation that real change can happen with a vision, commitment and aligned financial incentives, Steven M. Safyer, MD, Montefiore president and CEO, said in the release. Montefiore has been singularly focused on moving away from fragmented healthcare to more comprehensive care. Our success reflects our unique approach to healthcare and our strong partnerships with community physicians and other regional healthcare providers.
Savings were achieved through increased patient engagement, care coordination and preventive, patient-centered care provided in the hospital, in physicians offices, by phone and at home. Innovative nurse-driven interventions supported patient outcomes and experience.
Through a unique collaboration with physicians in the community and across Montefiores healthcare system, Montefiore ensured clinical excellence at all points of care, the release said. The savings represent a 7% reduction in the cost of care against the benchmark established for more than 23,000 patients attributed by the CMS Innovation Center to physicians in the Montefiore ACO.
Based on its success in the first year of the three-year Pioneer ACO Model, Montefiore will receive about $14 million of the savings it generated for Medicare. The funds will be both reinvested in Montefiores healthcare system and shared with participating physicians, the release said.