Amid COVID-19 Headwinds, Steward Generated Millions in Shared Savings for Medicare
CMS Awards Steward Second Largest Medicare Savings Payment in Nation
Steward Health Care, through its subsidiary Steward National Care Network, ranked first in membership, tied for first in quality, and earned the second highest shared savings payout out of 513 participants in the Center for Medicare and Medicaid Service’s (CMS) Medicare Shared Savings Program (MSSP), according to recently released CMS data. As the nation’s largest physician-led health care network and accountable care organization (ACO), Steward generated more than $68 million in total 2020 Medicare cost savings while receiving a perfect 100% quality rating amid the challenges of the COVID-19 global pandemic.
Since Steward’s Medicare Accountable Care Organization launched in 2012, it has grown into the largest in the country, with more than 161,000 program beneficiaries, while maintaining a multi-year track record of success in delivering high quality clinical outcomes and generating consistent savings. Steward’s Medicare ACO results are part of its large portfolio of value-based success across commercial, Medicare Advantage, and Medicaid risk-based contracts in every state where Steward operates.
Despite significant market headwinds related to the ongoing COVID-19 pandemic, Steward’s 2020 performance year was its most successful — which can be attributed to its physician-led, compassionate, patient-first care model. This model of care has been proven to lower costs while markedly increasing quality of care and patient satisfaction in communities across the country.
“We are proud of our physicians, and their clinical teams who participate in the MSSP program across our network, who have provided the highest quality care while aiming to keep their patients healthy in the communities where they live,” said Sanjay Shetty, M.D., President of Steward North America. “This important designation validates that our physician-led, patient-centric model consistently delivers best in class outcomes for all stakeholders including patients, payors and communities.”
“Our comprehensive care management programs support recently hospitalized patients with chronic diseases with resources and programs in their communities and have been integral to our ongoing Medicare ACO success and mission to put patients first in everything we do,” said Dr. Joseph Weinstein, Chief Physician Executive for Steward Health Care Network. “The COVID-19 pandemic continues to pose numerous challenges, but our unwavering commitment to providing high quality, value-based care in all the communities we call home is and will remain the central tenet of our work.”
About Steward Health Care
Steward Health Care’s physician-led business model was built to unlock access to the highest-quality care at a sustainable cost, committed to providing personalized, ongoing medical services that positively impact patients’ physical, emotional, and mental well-being.
Founded in 2010, Steward Health Care is the largest physician-led health care network with more than 5,500 providers and 43,000 health care professionals caring for 12.3 million patients a year through its global network of hospitals, urgent care centers, skilled nursing facilities and behavioral health services.
Based in Dallas, Steward currently operates 44 hospitals around the world, including 34 across Arizona, Arkansas, Florida, Louisiana, Massachusetts, Ohio, Pennsylvania, Texas, and Utah, as well as five internationally within Malta and Colombia.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005736/en/
Contacts
Jeremy Tunis
Phone: (469) 341-8894 | Email: jeremy.tunis@steward.org
