UHS added that the ACOs run by its subsidiary Prominence Health Plan earned $40 million for 3,000 participating physicians last year.
Universal Health Services (UHS) announced Wednesday that its seven accountable care organizations (ACO) saved Medicare $90 million in 2019.
The savings increased by almost 40% year-over-year, according to the company, due to expansion into new markets and "continued improvement in value-based care delivery by participating ACO providers."
The King of Prussia, Pennsylvania–based hospital management company added that the ACOs run by its subsidiary Prominence Health Plan earned $40 million for 3,000 participating physicians last year.
"This continued success is due to intentional partnerships within UHS communities, empowering local primary care clinicians with the necessary data and resources to provide high quality, high-value care," Kamal Jemmoua, CEO of Prominence, said in a statement. "The model rewards both the patient and physician as the patient receives better healthcare and the physician is financially incentivized for keeping them as healthy as possible."
UHS highlighted some of its top-performing ACOs, including Silver State ACO which recorded total savings of $48 million, South Texas Clinical Partners, which recorded total savings of $14.8 million, GW Health Network, which recorded total savings of $6 million, and California Clinical Partners, which recorded total savings of $5.1 million.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.
Photo credit: Milan, Italy - November 1, 2017: Universal Health Services logo on the website homepage. - Image / Editorial credit: Casimiro PT / Shutterstock.com