HealthLynked Corp (HLYK)

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HealthLynked Corp. Announces ACO Health Partners Earns $768k in Shared Savings Revenue and a Fourfold Growth in Covered Medicare Beneficiaries

NAPLES, Fla., Oct. 8, 2020 /PRNewswire/ -- HealthLynked Corp. (OTCQB: HLYK), a global healthcare network focused on the care management of its members and healthcare technologies by connecting doctors, patients, and medical data, today announced ACO Health Partners, LLC, a Jacksonville based Accountable Care Organization (ACO) owned and managed by Cura Health Management, LLC, a wholly owned subsidiary of HealthLynked Corp, has reported its third consecutive year of shared savings.

According to recently released performance results from the Centers for Medicare and Medicaid Services "CMS", the federal agency that administers Medicare, ACO Health Partners improved care for its Medicare beneficiary population and reduced cost for Medicare by $1,535,487 while meeting its quality and cost goals in 2019.

Medicare data shows that ACO Health Partners also earned a positive quality score by meeting performance measures ranging from preventive health checks to use of computerized health records, as well as preventing avoidable hospitalizations. The $1.5 million of gross savings resulted in a shared savings payment of $767,743 to ACO Health Partners, its third consecutive year of shared savings. In addition, ACO Health Partners' ongoing Medicare beneficiary growth initiatives resulted in a four-fold increase in the ACO's covered beneficiary base to 11,500 going into the 2021 savings year. Savings are anticipated to grow at the same rate or better.

A market-based solution to combat fragmented and costly care, ACOs empower local physicians, hospitals, and other providers to work together and take responsibility for improving quality, enhancing patient experiences, and keeping care affordable. The Medicare Shared Savings Program (MSSP) creates incentives for ACOs to invest in transformative care solutions by allowing them to share in savings generated after meeting defined quality and cost goals.

"As the management organization for ACO Health Partners, our core work begins with using data analytics to identify opportunities to better address the needs of the patients in order to improve outcomes. When providers work together through an ACO to focus on patients and invest in care coordination and other care improvements, they can both increase quality and reduce costs" said Marsha Boggess, CEO of Cura Health Management. "This insight, coupled with actionable disease specific programs, equips our providers to prepare and execute effective care plans for patients, particularly those who need the most care. This patient-centric approach helps patients take advantage of preventive care programs such as annual wellness visits and recommended screenings, as well as programs designed to smooth transitions from facility care to home."

The ACO model served 11.2 million seniors and saved Medicare $2.6 billion in 2019. "These results reinforce the value ACOs have had on improving cost and quality within the Medicare population as well as the influence they have had on the rest of the healthcare system.", said Nicole Bradberry, CEO of the Florida Association of ACOs and advisor to HealthLynked. "The COVID-19 pandemic underscored the value that ACOs have brought to the table in the organized way they were able to help doctors respond to an unprecedented time. Initiatives such as telehealth and care coordination mitigated what could have been panic within the delivery system."

In addition to the positive 2019 results from CMS, multiple analyses have shown ACOs are lowering Medicare spending by 1 to 2 percent, which translates into tens of billions of dollars of reduced Medicare spending when compounded annually.

The Medicare ACO shared savings program is the largest value-based payment model in the country. HealthLynked entered this space in 2019 with the acquisition of ACO Health Partners and its management company, Cura Health Management. ACO Health Partners was one of 541 ACOs contributing to savings in 2019.

"We see ACOs as an important component of our business strategy, contributing to the health system as it moves to better value; for our patients, our providers and our shareholders," said George O'Leary, Chief Financial Officer, HealthLynked Corp. "We are committed to support our providers in this journey through enhanced infrastructure and programs as ACO Health Partners increased to 11,500 Medicare beneficiaries as we approach 2021."

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