Larson Applauds Selection of Local Providers for Medicare Shared Savings Program
Hartford, CT – Today Rep. John B. Larson (CT-01) announced that Hartford HealthCare, St. Francis HealthCare Partners and ProHealth Physicians have established Accountable Care Organizations that have been selected to participate in the Medicare Shared Savings Program. Created under the Affordable Care Act, the Medicare Shared Savings Program aims to improve the quality of care that patients receive, and lower health care costs through increased coordination of care by providers. Accountable Care Organizations participating in the program that improve quality and reduce costs can share in the savings to Medicare.
"Our seniors deserve the highest quality care from the Medicare they paid for," said Larson. "The Affordable Care Act contained important reforms to our health care system, like the Medicare Shared Savings Program, that will increase the coordination of care and improve quality for patients. I applaud Hartford HealthCare, St. Francis HealthCare, and ProHealth Physicians for their efforts to improve care for patients in Connecticut. As we move forward in building on the Affordable Care Act and strengthening Medicare, we must continue to be focused on reducing costs through the improvement of care for every American."
Providers must create or participate in an Accountable Care Organization (ACO) in order to be eligible for the Medicare Shared Savings Program. Over time, savings as a result of reduced costs are shared with Medicare if the ACOs meet quality standards. Since the passage of the Affordable Care Act, over 250 ACOs have been created, serving more than 4 million patients nationwide.