Arcadia.io MSSP ACO Customers Averaged $4.36 Million in Shared Savings Bonuses in 2018
BURLINGTON, Mass., Dec. 12, 2019 /PRNewswire/ -- Arcadia Biosciences, Inc.(www.arcadia.io), a widely-recognized leader in population health management, congratulates its Accountable Care Organization (ACO) customers in achieving over $423 million in Medicare Shared Savings Program (MSSP) savings in 2018i. On average, Arcadia customers increasingly outperformed other ACOs over the past three performance years, achieving on average $5.88 more savings in Medicare expenses per-member-per-month (PMPM) in 2018.
Arcadia MSSP ACO customer savings have shown a strong improvement trend over the past four years, compared to the flat trend seen by all other MSSP ACOs. On average, Arcadia customers received a shared savings bonus of $4.36 million in 2018. This is over 2.5x the average bonus received by other ACOs and represents $4.55 PMPM more in bonus received from CMS.
"We congratulate our customers on achieving such strong economic success under challenging risk-based payment models," said Arcadia chief executive officer Sean Carroll. "We are privileged to work with the most innovative ACOs in the country to enable their value based care initiatives with our platform Arcadia Analytics."
KLAS: "Arcadia Leads with Outcomes-Producing, Analytics-Driven Insights"ii
This performance highlights the success that ACOs have achieved using the Arcadia Analytics platform. When Arcadia was covered by highly-respected third-party analyst KLAS Research in their reports Population Health Management 2018 Part 1 and Part 2, Arcadia was the strongest fully-rated population health management vendor for financial outcome success.iii
"The proof is in the pudding. We will get a profit next year," said one Arcadia customer executive to a KLAS researcher in July 2019. "The data that we get to the physicians through our medical leadership, our department chairs, and our medical director is front and center in our organization. We use the product to distribute a portion of our physicians' compensation. From a value-based perspective, that is a lot of money to incentivize the doctors. The foundation of that is the analytics that I get from the product."iv
To learn more about success under risk-based contracting, click here to read key strategies for ACOs in value-based care performance.
Arcadia (www.arcadia.io) is a population health management company, specializing in data aggregation, analytics, and workflow software for value-based care. Our customers achieve financial success in their risk-sharing contracts through Arcadia's focus on creating the highest quality data asset, pushing expertly derived insights to the point of care, and supporting administrative staff with data when and where they need it with applications including care management and referral management. Arcadia has off-the-shelf integration technology for more than 40 different physical and behavioral health EHR vendors, powered by machine learning that combs through variations in over 60 million longitudinal patient records across clinical, claims, and operational data sources. Arcadia software and outsourced ACO services are trusted by some of the largest risk-bearing health systems and health plans in the country to improve the bottom line. Founded in 2002, Arcadia is headquartered outside Boston in Burlington, MA, with offices in Seattle, Pittsburgh, Chicago, and Rockford, IL. In 2019, Arcadia was recognized by top independent healthcare analysts for our leadership, including being awarded Best in KLAS for Value Based Care Managed Services.
Nicole Rodriguez, Senior Account Director, Amendola Communications for Arcadia
i All calculations are based on public MSSP ACO performance data published annually by CMS.
View original content to download multimedia:http://www.prnewswire.com/news-releases/arcadiaio-mssp-aco-customers-averaged-4-36-million-in-shared-savings-bonuses-in-2018--300973920.html