RENTON, Wash. [Nov. 12, 2024] — 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 $137 million in savings to the Center for Medicare and Medicaid Services (CMS) in 2023.
HCP is the sixth largest MSSP ACO in the country and last year generated $137,594,028 in savings for CMS—the most of any MSSP ACO in a single year in history.
“This is our 10th year in MSSP and we have seen significant learning and improvement over time,” said Craig Enge, a vice president in the Population Health group at Providence. “We have experienced a 500% growth in lives and in just the past 5 years alone, we have saved CMS over $375 million.”
MSSP ACOs are groups of providers and care delivery organizations that collaborate to offer coordinated care to people with Medicare, with a goal of keeping beneficiaries healthier while avoiding medical errors and unnecessary services. The ACOs share in the savings they deliver to Medicare, which benefits both the ACO and CMS.
“This is a testament to the ongoing efforts of our dedicated caregivers, who are united in their mission to deliver high-quality care to the patients we serve,” said Scott Anders, M.D., chief medical officer at Health Connect Partners. “Our success is not just measured by statistics, but by the stories of our patients. We are proud of what we have accomplished and remain committed to setting new standards in health care delivery.”
As of Performance Year 2024, HCP has grown to serve 162,335 Medicare fee-for-service beneficiaries across its ministries in Alaska, California, Montana, Oregon and Washington, representing a 38 percent increase in two years. Since it began participating in the MSSP in 2014, HCP has steadily improved performance, generating savings for CMS in six of those years (2017 & 2019-2023).
Patients consistently give HCP top ratings on provider communication and courteous and helpful office staff, illustrating a system-wide commitment to deliver excellent quality of care.
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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 1,100 physician clinics, senior services, supportive housing, and many other health and educational services, the health system and its partners employ more than 129,000 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.
