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.”
