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Milliman MedInsight's Remarkable Impact on Healthcare Savings in 2023

In a significant achievement for the healthcare industry, Milliman MedInsight has announced that its clients utilizing the Medicare Shared Savings Program (MSSP) have seen extraordinary success in 2023. The organization reported that its Accountable Care Organizations (ACOs) earned over $549.3 million in savings, which represents a substantial portion of the national total of $3 billion made by ACOs participating in the program this year.

With 74% of Milliman MedInsight’s MSSP ACO clients achieving savings, this figure surpasses the national average of 69%. This accomplishment is a promising indicator of the effectiveness of value-based care models, which aim to enhance patient care while simultaneously reducing unnecessary healthcare costs.

The Centers for Medicare & Medicaid Services (CMS) announced these 2023 MSSP savings results in October. This marks the seventh consecutive year of savings within the program, which invites healthcare providers to collaborate under ACOs to improve patient care and minimize spending.

The Role of Milliman MedInsight in Driving Savings

Milliman MedInsight is widely recognized as a pioneer in healthcare data analytics. The organization plays a critical role in empowering its clients with tools necessary for optimizing financial and care management within their ACOs. Its advanced analytics and benchmarking capabilities allow ACOs to identify and capitalize on opportunities to better their performance and, as a result, health outcomes for patients.

“Because of the transformative power of our analytics platform, we can help ACO customers succeed in navigating the complexities of value-based care agreements, such as the MSSP,” states Meghan Fetherson, Milliman MedInsight's Chief Client Officer. She emphasized the company’s commitment to helping clients achieve success in comprehensive care models that benefit both providers and patients.

An Expanding Influence in the ACO Landscape

Milliman MedInsight’s clients correspond to over 15% of total covered lives under the MSSP, contributing to a significant impact within the overall Medicare landscape. Among the 453 ACOs participating in the MSSP, 38 are using Milliman MedInsight solutions, showcasing the company's stronghold in the market.

With an unwavering focus on value-based care, Milliman MedInsight has made substantial investments in its Value-Based Care (VBC) Platform in recent years. This platform is designed to deliver actionable data, empowering clients to drive both patient progress and performance objectives, thus aligning management strategies with health-improvement goals.

“Our dedication remains firm in equipping ACO clients with the tools and resources they need to excel in a shifting healthcare environment,” added Todd Fessler, Chief Revenue Officer at Milliman MedInsight. “We are investing continuously to ensure that our clients thrive and adapt to the evolving landscape of value-based healthcare.”

The Significance of Shared Savings Programs

The MSSP encourages a shift in how care is provided, focusing on the quality of care rather than the volume of services rendered. By joining ACOs, healthcare providers are encouraged to coordinate efforts, enhancing care quality and patient experience while simultaneously aiming to cut down on unnecessary expenditures. These efforts highlight a growing recognition of the need for collaborative healthcare models that not only improve outcomes but also maximize efficiency.

In conclusion, Milliman MedInsight's outstanding results in the 2023 MSSP reflect a broader trend towards optimized healthcare delivery through collaborative models. As more ACOs embrace value-based care frameworks, the potential for even greater savings and improved patient care will continue to evolve. Milliman MedInsight stands at the forefront of this transformation, leading the way with innovative analytics and a commitment to driving meaningful change within the healthcare industry.