07:54 AM EDT, 07/14/2021 (MT Newswires) -- Skylight Health Group Inc. (SLHG.V) has acquired ACO Partners LLC, a new Accountable Care Organization (ACO) that will begin participation in the Medicare Shared Savings Program (MSSP) from January 1 next year.
An ACO is a healthcare organization that ties provider reimbursements to quality metrics and reductions in the cost of care. It will share in the savings it achieves for the Medicare program through its MSSP participation for fee-for-service beneficiaries, and direct contracting program with the Centres for Medicare and Medicaid Services (CMS);
Under the Medicare Shared Savings Program, the organization can see annual shared savings from 40% up to 75% on any attributed Medicare beneficiaries.
"We are very excited for this foundational step at Skylight," said Prad Sekar, CEO at Skylight Health. "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."
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