HealthLynked
Corp.
Announces
ACO Health Partners
Earns
$768k
in
Shared Savings
Revenue
and
a
Fourfold
Growth in Covered Medicare Beneficiaries
Naples, FL -- October 8, 2020 -- InvestorsHub NewsWire
-- 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."
About
HealthLynked Corp.
HealthLynked Corp.
provides a solution for both patient members and providers to
improve healthcare through the efficient exchange of medical
information. The HealthLynked Network is a cloud-based platform
that allows members to connect with their healthcare providers and
take more control of their healthcare. Members enter their medical
information, including medications, allergies, past surgeries and
personal health records, in one convenient online and secure
location, free of charge. Participating healthcare providers can
connect with their current and future patients through the system.
Benefits to in-network providers include the ability to utilize the
HealthLynked patent pending patient access hub "PAH" for patient
analytics. Other benefits for preferred providers include HLYK
marketing tools to connect with their active and inactive patients
to improve patient retention, access more accurate and current
patient information, provide more efficient online scheduling and
to fill last minute cancelations using the Company's "real time
appointment scheduling" all within its mobile application.
Preferred providers pay a monthly fee to access these HealthLynked
services. For additional information about HealthLynked Corp.,
please visit
www.healthlynked.com and connect
with HealthLynked on Twitter, Facebook, and LinkedIn.
About
ACO Health Partners, LLC
ACO
Health Partners is a Jacksonville Florida based accountable care
organization, (ACO) with participating providers in Florida,
Indiana, North Carolina, and New Jersey. ACO Health Partners
is one of the oldest ACOs in the country, founded in 2013.
Since that time ACO Health Partners, while consistently
demonstrating quality, has saved the Medicare program nearly $11
million dollars, by working with more than 478 providers, and
impacting over 53, 275 Medicare beneficiaries. ACO Health Partners
is managed by Cura Management Group, a value services organization
providing leadership and infrastructure facilitate success in
Medicare's Shared Savings Program (MSSP).
About
Cura Health Management,
LLC
CURA Health Management,
LLC,
a HealthLynked company, is a healthcare enablement company that
empowers local market provider entrepreneurs to own and operate
their own Value Service
Organizations in a franchise-like model that extends their reach
and capabilities to maximize revenue, deliver quality care and
improve patient outcomes. Their innovative resources and expert
solutions are administered as an extension of providers' current
in-practice resources, expanding care coordination and care
management services, and value-based analytics. These solutions
support financial success within both traditional payment models
and expansion to new services, allowing partners to succeed within
current and ever-emerging value-based payment models.
Forward Looking Statements
Forward-Looking
Statements in this press release, which are not historical facts,
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Our actual results,
including as a result of any acquisitions, performance or
achievements may differ materially from those expressed or implied
by these forward-looking statements. In some cases, you can
identify forward-looking statements by the use of words such as
"may," "could," "expect," "intend," "plan," "seek," "anticipate,"
"believe," "estimate," "predict," "potential," "continue,"
"likely," "will," "would" and variations of these terms and similar
expressions, or the negative of these terms or similar expressions.
Such forward-looking statements are necessarily based upon
estimates and assumptions that, while considered reasonable by our
management, and us are inherently uncertain. We caution you not to
place undue reliance on any forward-looking statements, which are
made as of the date of this press release. We undertake no
obligation to update publicly any of these forward-looking
statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors
affecting forward looking statements, except to the extent required
by applicable laws. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements. Certain risks and uncertainties applicable to our
operations and us are described in the "Risk Factors" section of
our most recent Annual Report on Form 10-K and in other filings we
have made with the U.S. Securities and Exchange Commission. These
reports are publicly available at
www.sec.gov.
Contacts:
George
O'Leary
Chief
Financial Officer
goleary@healthlynked.com
(800)
928-7144, ext. 99
Investor
Relations Contacts:
Stephanie
Prince
PCG
Advisory Group
sprince@pcgadvisory.com
646-762-4518
Jim
Hock
Hanover
International Inc.
jh@hanoverintlinc.com
760-564-7400