IHANY Recognized by Centers for Medicare & Medicaid Services for Quality of Care, Cost Savings During COVID-19 Pandemic
Participation in Medicare Shared Savings Program translated to higher-quality patient care and savings of approximately $1.9 billion for Medicare
The Innovative Healthcare Alliance of New York (IHANY) was recently recognized by the Centers for Medicare & Medicaid Services (CMS) as one of the Accountable Care Organizations (ACO) that had a positive impact on patient care and Medicare savings in 2020.
For IHANY, 2020 represented the third consecutive year of savings under the Medicare Shared Savings Program (MSSP), established by the Affordable Care Act. It was the first year that IHANY’s savings surpassed its CMS target, with a saving rate of 4.2 percent. This earned them a quality score of 98.7 percent and a shared savings award of $4.457 million.
According to CMS, currently more than 12.1 million Medicare fee-for-service patients receive care from a health care provider participating in a Medicare ACO, like IHANY. ACOs nationwide developed regional and local collaborative care models, where physicians and other health care providers work together to improve quality and reduce the costs of health care services. The MSSP collectively saved Medicare $4.1 billion last year, and $1.9 billion after accounting for shared savings payments.
“The physicians, hospitals, and other health care providers of IHANY are united in providing coordinated, high-quality care to Medicare beneficiaries,” said Dr. Steve Piacentine, board president for IHANY. “It is our Mission to provide the right care, at the right time, and in the right location. Our ability to pivot to telehealth and other innovative care models like remote patient monitoring during the peak of the COVID pandemic is just one example of the power of a coordinated continuum of care in the Capital Region.”
IHANY was formed in 2014 as the Capital Region’s first Clinically Integrated Network (CIN). This physician-led endeavor was designed to control health care costs and ensure higher quality by enabling nearly 2,000 physicians and area health systems, including Ellis Medicine, St. Peter’s Health Partners (SPHP), and St. Mary’s Healthcare (Amsterdam), to work together in delivering higher-value care while joint contracting with payers under incentive-based payment models.
“We knew from the very start that improved clinical integration, collaboration and shared accountability would mean not only a realization of savings for Medicare, but it would translate directly to improved patient care, right here in our community,” said Leslie Barden, IHANY Chief Executive Officer and SPHP Chief Strategy Officer. “When we formed IHANY, the goal was to provide a different type of care via a high-performing network with the end result being better health status for the populations we serve and financial rewards by payers for this good work.”
“Despite the disruptions associated with COVID in 2020, we worked hard to identify those at risk for worsening health and innovated ways to connect and create care plans specific to their needs whether it be medical, behavioral health, or social,” said Barden. “We are all exceptionally proud to be recognized by Medicare for our contributions.” For more information, visit the CMS website at: https://data.cms.gov/medicare-shared-savings-program/performance-year-financial-and-quality-results
The Innovative Health Alliance of New York, LLC (IHANY), is the Capital Region’s first Clinically Integrated Network (CIN). This network of providers is designed to deliver higher-value care by improving quality and controlling health care costs, resulting in improved health status of the populations served and supported by value-based payment models with payers. The network is composed of about 2,000 providers associated with Ellis Medicine, St. Peter’s Health Partners, St. Mary’s Healthcare (Amsterdam), and a number of independent practices who agree to work together in joint contracting and share incentive-based payments. IHANY is also an approved Accountable Care Organization (ACO) for the Medicare Shared Savings Program and a New York State All Payer ACO.