BOSTON – The Pioneer Accountable Care Organization at the Beth Israel Deaconess Care Organization saved 4.2 percent of its budget for patient care in the first year of operation, generating substantial savings for the federal Medicare health care program.
In 2011, BIDCO was named one of only 32 provider organizations across the country chosen to work with the Centers for Medicare &Medicaid Services to provide Medicare beneficiaries with higher quality care, while reducing growth in Medicare expenditures through enhanced care coordination.
The calendar year 2012 results announced Tuesday generated a return of $7.79 million for BIDCO, which agreed to share the risk of insuring patients within a budget under the transformative new Pioneer ACO initiative sponsored by the CMS Innovation Center.
“The founding principle of BIDCO is to provide the highest quality care to our patients and the health care community at large, at affordable, sustainable rates,” said Christina Severin, BIDCO’s President and CEO. “These core values of high quality and cost sustainability apply to our other stakeholders including state and federal government and our commercial payor partners.
“These results demonstrate that BIDCO has succeeded in creating an environment where physicians and hospitals are able to work collaboratively to achieve the triple aim of Medicare – improving patient experience of care including quality, improving population health and reducing cost. We know that the future will continue to demand more from us as a system, and we remain committed to furthering our efforts at innovation and partnerships for continued success.”
“Our team is delighted to learn that the preliminary data from Medicare shows that we have earned a substantial surplus for calendar year 2012,” said Richard A. Parker, MD., BIDCO’s Chief Medical Officer. “This reflects the hard work of our physicians and all providers who have effectively implemented our care management resources, including a nurse practitioner home visit program for our sickest patients and our BIDCO nurse care managers for hundreds of other medically and socially complex patients.
“I also wish to recognize our primary care physician leaders for their continued efforts to better serve our Medicare patients and share best practices with each other to constantly improve our systems of care. This is, of course, just the beginning in our plans to deliver more efficient and ever higher quality care to all of our patients.”
Beth Israel Deaconess Care Organization is a contracting and care management organization with more than 1,700 physicians, including approximately 350 primary care physicians, throughout eastern Massachusetts and is affiliated with Beth Israel Deaconess Medical Center. BIDCO was an early adopter of merging financial global budget accountability with the provision of high quality care and is one of the 32 Pioneer ACOs certified nationally by the Centers for Medicare and Medicaid Services. For more information, visit www.bidpo.org
Beth Israel Deaconess Medical Center is a patient care, teaching and research affiliate of Harvard Medical School, and currently ranks third in National Institutes of Health funding among independent hospitals nationwide.
BIDMC has a network of community partners that includes Beth Israel Deaconess Hospital-Milton, Beth Israel Deaconess Hospital-Needham, Anna Jaques Hospital, Lawrence General Hospital, Commonwealth Hematology-Oncology, Beth Israel Deaconess HealthCare, Community Care Alliance, and Atrius Health. BIDMC is also clinically affiliated with the Joslin Diabetes Center and Hebrew Senior Life and is a research partner of Dana-Farber/Harvard Cancer Center. BIDMC is the official hospital of the Boston Red Sox. For more information, visit www.bidmc.org.