GREELEY, CO - 09/08/2021
Banner Network Colorado Earns High Quality Performance, Saves Medicare Money
ACOs Improve Quality and Reduce Costs While Preserving Medicare Beneficiary Choice of Providers
GREELEY, CO — Banner Network Colorado (BNC) providers improved care for nearly 5,800 Medicare beneficiaries in Northern Colorado and saved Medicare $6.3 million by meeting quality and cost goals in 2020, according to recently released performance data from the federal agency that administers Medicare.
In addition, BNC earned a high-quality score on performance measures ranging from preventive health checks to use of computerized health records to preventing avoidable hospitalizations, according to Medicare data. The $6.3 million of gross savings to Medicare resulted in a shared savings payment of $3.2 million to Banner Network Colorado with the savings to be distributed to participating ACO clinics.
Several of BNC’s participating primary care clinics have partnered with the Centers for Medicare & Medicaid Services since 2012. These models are designed to improve the care and outcomes of Medicare beneficiaries in the northern Colorado markets.
“Our dedicated network of providers is key to reaching this level of success for our community,” said Anuja Riles, MD, Medical Director for BNC. “When providers work together to focus on care coordination, care improvements, and information technology they can both increase quality and reduce costs with tangible results.”
A market-based solution to fragmented and costly care, accountable care organizations (ACOs) empower local physicians, hospitals and other providers to work together and take responsibility for improving quality, enhancing patient experience and keeping care affordable. The Medicare Shared Savings Program (MSSP) creates incentives for ACOs to invest in transform care by allowing them to share in savings they generate after meeting defined quality and cost goals.
To achieve these results, participating BNC clinics and providers work to increase the number of Medicare beneficiaries taking advantage of annual wellness visits, including recommended screenings and preventive care. The ACO also focuses on ensuring smooth patient transitions from the hospital to home—or a nursing home if needed. Participating ACO clinics receive detailed information about their performance on quality measures. And clinicians and providers share best practices to coordinate the care beneficiaries receive from different primary care and specialty providers and to prevent health issues and repeat hospitalizations.
About Banner Network Colorado
Banner Network Colorado (BNC) is a provider network serving health care policyholders in Larimer and Weld counties in Northern Colorado’s Front Range. The network is composed of health care providers such as physicians, hospitals and related medical providers who are linked together to improve the quality of care for patients. These providers make a commitment to work closely together to coordinate all aspects of a patient’s care, to enhance the patient experience and to improve outcomes. Nearly 300 providers are currently participating in Banner Network Colorado.