Providence tops CMS list with $98 million in savings to Medicare in 2022

MSSP ACO Health Connect Partners serves more than 100k beneficiaries in the Western U.S.

Renton, Wash. Sept. 21, 2023— Providence, one of the nation’s largest health systems, announced today that Health Connect Partners (HCP), its Medicare Shared Savings Program (MSSP) Accountable Care Organization (ACO), generated more than $98 million in savings to the Center for Medicare and Medicaid Services (CMS) in 2022.

Health Connect Partners is the seventh largest MSSP ACO in the country, but last year generated $98,966,170 in savings for CMS—the most of any MSSP ACO. This is a $58 million improvement over 2021 and an increased savings rate of 7.19%. The results were included in CMS’s Financial and Quality Results for Performance Year 2022 released at the end of August.

“This achievement is due to the incredible work of our talented caregivers, who are aligned around providing high-quality preventive care, proactively managing chronic care and keeping hospitalizations low,” said Scott Anders, MD, chief medical officer at Health Connect Partners. “We are very proud of these collaborations, which have the added benefit of significant savings for CMS, the American taxpayer, and most important, the Medicare beneficiaries we serve every day.”

In 2022, HCP served 119,531 Medicare fee-for-service beneficiaries across its ministries in Alaska, California, Montana, Oregon and Washington. Since it began participating in the MSSP in 2014, HCP has steadily improved performance, generating savings for CMS in five of those years (2017 & 2019-2022).

Among the 30 largest MSSP ACOs in the country, HCP has:

• The third lowest rate of admissions to the hospital
• The third lowest rate of unplanned admissions to the hospital for patients with multiple chronic conditions
• The second lowest readmission rate

Additionally, patients consistently give HCP top ratings on provider communication and courteous and helpful office staff, illustrating the system-wide commitment to deliver excellent quality of care.

About Providence
Providence is a national, not-for-profit Catholic health system comprising a diverse family of organizations and driven by a belief that health is a human right. With 51 hospitals, more than 1000 physician clinics, senior services, supportive housing, and much other health and educational services, the health system and its partners employ more than 117,000 caregivers serving communities across seven states – Alaska, California, Montana, New Mexico, Oregon, Texas, and Washington, with system offices in Renton, Wash., and Irvine, Calif. Learn about our vision of health for a better world at Providence.org.