Universal American Subsidiary Receives Approval for Fifteen New Accountable Care Organizations under the Medicare Shared Savings Program Bringing Total to 31 ACOs
WHITE PLAINS, N.Y. - (BUSINESS WIRE) - Universal American Corp. (NYSE: UAM) announced today that its subsidiary, Collaborative Health Systems (CHS), has partnered with 15 additional groups of physicians to form Accountable Care Organizations (ACOs) that were approved to participate in the Medicare Shared Savings Program with an effective date of January 1, 2013. Together with the 16 ACOs previously approved by the Centers for Medicare & Medicaid Services (CMS), CHS has organized 31 ACOs approved for participation in the Shared Savings Program which include more than 2,000 participating physicians covering an estimated 300,000 Original Medicare beneficiaries in 13 states.
CHS will provide care coordination, analytics and reporting, technology and other administrative services to enable these physicians and their associated healthcare providers to deliver better quality care, improved health and lower healthcare costs for their Medicare Fee-for-Service patients.
"We are delighted to be working with such a talented and diverse group of physicians to launch these ACOs and build upon our highly successful Healthy Collaboration model. The Shared Savings Program is an ideal structure for us to build on our history of working collaboratively with healthcare providers to efficiently deliver quality healthcare for the benefit of people with Medicare," said Richard Barasch, CEO of Universal American. "Our work with these 31 ACOs will allow us to use our core capabilities in the areas of care coordination, provider partnerships and healthcare analytics for the benefit of providers and the Medicare Fee-for-Service patients served by these providers. Further, these ACOs demonstrate our steadfast commitment to working with the government and with healthcare providers in a collaborative, transparent and fair manner in our ongoing effort to measurably improve the quality of care and control healthcare costs for the benefit of the Medicare program and its beneficiaries."
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