The MaineHealth ACO is dedicated to advancing value-based care, a model that incentivizes improvement on all aspects of the Triple Aim: increasing the quality of care, curbing the increase in cost of care, and improving patient experience. The model is supported by value-based agreements with payers that reward achievement of cost and quality goals by sharing a portion of realized savings with the ACO and the providers in its network.
In 2019, on behalf of participating providers, the MaineHealth ACO entered into 14 value-based agreements with 10 payer partners, covering the care of over 237,000 beneficiaries. The 2019 agreements have not been reconciled as of the writing of this report but in 2018, under similar value-based agreements, the ACO’s providers limited increases in cost, resulting in $8 million less spent on care than anticipated while making steady improvements in many measures of quality. A portion of savings realized was returned to the ACO in 2019 and 80 percent of that amount was distributed to practices to fund quality and population health initiatives. We’re pleased to report that the ACO received 20 percent more in shared savings during 2019 than in the previous agreement period.
received 20% more in shared savings during 2019
than in the previous agreement period.Success in value-based agreements has positive financial implications, certainly. But such agreements are, more importantly, a means to a larger end. They are a lever for accelerating the transition to value-based care, a model that puts patients more fully in the center than the more traditional fee-for-service model. When value-based care achieves its potential, advocates predict, patients will be more likely to receive the right care, at the right time, at the right place. In 2019, the ACO finalized a new three-year strategic plan that makes increasing the quantity and quality of value-based agreements a top priority. Our dedication to value-based care requires a commitment to value-based agreements.