SEATTLE, WASH. – Nov. 17, 2023 – Milliman MedInsight, a leading healthcare data and analytics company, is pleased to announce the outstanding achievements of Accountable Care Organizations (ACOs) utilizing the Milliman MedInsight healthcare analytics platform in support of the Medicare Shared Savings Program (MSSP) for the 2022 performance year.
Key Highlights of 2022 Performance Results for Milliman MedInsight clients:
- 80% Success Rate: 80% of MSSP MedInsight Platform users achieved shared savings, surpassing the 63% national average of MSSP ACOs.
- Substantial Savings: Milliman MedInsight clients collectively achieved an impressive total of $274 million of shared savings, contributing significantly to the nationwide total of $2.52 billion.
- Exceptional Impact: Out of 482 ACOs participating in MSSP, 25 are Milliman MedInsight users. Despite representing only 5% of total MSSP ACOs, MedInsight clients generated 11% of the total shared savings.
Todd Fessler, Milliman MedInsight Chief Revenue Officer, expressed enthusiasm about the results, stating, “We are thrilled to announce that our MSSP ACO clients have once again outperformed national benchmarks, achieving shared savings under the CMS Medicare Shared Savings Program. This success underscores the potency of Milliman MedInsight in empowering ACOs to thrive in value-based payment models. We remain confident that Milliman MedInsight will continue to provide the necessary analytics and insights for organizations to excel in value-based payment models.”
The Centers for Medicare & Medicaid Services (CMS) announced the 2022 MSSP savings in August, marking the sixth consecutive year of program savings, as reported by CMS. To participate in MSSP, providers must be affiliated with accountable care organizations (ACOs), which aim to decrease unnecessary healthcare expenses and foster cooperation among local physicians, hospitals, and providers to enhance patient care. The primary focus of ACOs is to improve quality of care, affordability, and overall patient experience.
Overall, the program’s goal is to encourage healthcare providers to collaborate and coordinate care for Medicare beneficiaries, working towards reducing healthcare costs and improving quality of care.
As a pioneer in enterprise data management in healthcare, Milliman MedInsight is one of the healthcare industry’s most highly regarded platforms for value-based care analytics. Since its inception in 1997, Milliman MedInsight has played a pivotal role in bridging the gap between cost management and care management. The platform supports actuarial, care, and data analytics teams with data warehousing, advanced analytics, prescriptive reporting, and tailored benchmarks.
About Milliman MedInsight
Milliman MedInsight provides the healthcare industry’s most powerful analytics on top of validated data sources from inside and outside healthcare organizations to drive informed decision-making across the enterprise. Milliman MedInsight analytics has been adopted by over 300 health plans, employers, at-risk providers/ACOs, state governments, community health coalitions, and third-party administrators. Milliman MedInsight offers a platform, application, and analytic products for the payer and provider market that provide preconfigured or custom reporting and data configurations that can address specific business needs. To learn more, visit medinsight.com.