- Skylight Health (SLHG) has acquired ACO Partners and entered the value-based Medicare contracting space
- ACO, a new accountable care organization, will begin participation in the Medicare Shared Savings Program (MSSP) effective January 1, 2022
- An accountable care organization is a health care organization that ties provider reimbursements to quality metrics and reductions in the cost of care
- Under MSSP, Skylight can see annual shared savings up to 75 per cent (full risk) on any attributed Medicare beneficiaries
- Skylight Health operates a U.S. multi-state primary care health network
- Skylight Health (SLHG)
Skylight Health (SLHG) has acquired ACO Partners and entered the value-based Medicare contracting space.
ACO, a new accountable care organization, will begin participation in the Medicare Shared Savings Program (MSSP) offered by the Centers for Medicare and Medicaid Services (CMS) effective January 1, 2022.
An accountable care organization is a health care organization that ties provider reimbursements to quality metrics and reductions in the cost of care. They allow access to key data points that help providers maximize health outcomes and cost of care.
ACOs share in the savings they achieve for Medicare for fee-for-service beneficiaries and direct contracting. They saved Medicare nearly US$1.2 billion in 2019 alone.
ACO Partners will enable Skylight to begin value-based care with CMS under single-sided risk in year one with the goal of shifting to full risk.
Under MSSP, Skylight can see annual shared savings from 40 per cent (single-sided risk) up to 75 per cent (full risk) on any attributed Medicare beneficiaries.
The company also expects to solicit contracts with national payors on managed care programs such as Medicare Advantage.
Prad Sekar, CEO at Skylight Health, commented,
“We are very excited for this foundational step at Skylight. Having our own ACO means a number of key benefits that include gaining direct access to key quality and cost data on our Medicare patients that allows us to maximize opportunities under the MSSP. We retain the full dollar by contracting directly with CMS on traditional Medicare which means more capital to directly invest in programs that can maximize patient outcomes.”
Skylight Health operates a U.S. multi-state primary care health network providing sub-specialty, allied health and laboratory/diagnostic testing.
Skylight Health (SLHG) is up by 1.24 per cent and is currently trading at $4.90 per share as of 2:35 pm ET.