GENESIS HEALTHCARE’S ACO ADDS NEARLY 200 NEW UNAFFILIATED FACILITIES12/16/2019
GENESIS HEALTHCARE’S ACO ADDS NEARLY 200 NEW UNAFFILIATED FACILITIES
[Kennett Square, PA] – December 16, 2019 – Genesis HealthCare (Genesis), one of the largest post-acute care providers in the United States, today announced that its ACO, called LTC ACO, welcomed nearly 200 new unaffiliated long-term care facilities to its ACO. LTC ACO is a wholly-owned subsidiary of Genesis and the only post-acute care sponsored Accountable Care Organization (ACO) in the nation.
In 2016, LTC ACO, formerly known as Genesis Healthcare ACO, began participating in the Medicare Shared Savings Program (MSSP) through Genesis HealthCare’s Genesis Physician Services (GPS) division. GPS, the only captive SNFist company in the skilled nursing industry, has physicians, physician assistants and nurse practitioners who make more than half a million visits annually to both short- and long-stay patients, helping improve overall healthcare quality and reduce unnecessary hospital readmissions. With nearly four years of billing history and more than 6,000 long-term care residents, LTC ACO is the only post-acute provider in the country able to form an ACO via the MSSP.
As of December 2019, LTC ACO welcomed nearly 200 facilities to its ACO and is in the process of contracting with approximately 200 physicians who provide services to residents in those facilities. LTC ACO passes along no risk to the facilities and requires no capital outlay in order to participate. LTC ACO will educate, train and report outcomes with the goal of driving improved patient outcomes, creating healthcare efficiencies and improving quality outcomes. LTC ACO expects to attribute approximately 3,000 additional lives by the end of 2020 associated with these new facilities.
The nearly 200 facilities will be able to take advantage of LTC ACO’s structure and breadth of experience to drive improved patient outcomes and reduce rehospitalizations in their own facilities. In an environment where all providers are being asked to do more with less, the ACO structure allows these facilities to share financially in the improvements it makes both from a cost and quality perspective. The ACO also allows them to better align the efforts of their physicians, creating a collaborative environment to achieve these goals. This alignment is something that has rarely been accomplished heretofore in the long-term care industry.
“We are excited to welcome nearly 200 new non-Genesis facilities into our ACO,” notes Jason Feuerman, President of LTC ACO. “With nearly four years of participation under the MSSP, we are proud to share our valuable experience in driving better outcomes and improved quality, managing episodic and chronic costs while developing in-house capabilities to predict program performance. It is a win-win for all parties and residents.”
LTC ACO plans to significantly expand its resident attribution beginning in 2020, not only inside Genesis but also more broadly throughout the skilled nursing industry. For more information on becoming a partner with LTC ACO, please call 1-800-906-8382.
Genesis HealthCare is dedicated to improving the lives we touch through the delivery of high-quality healthcare and everyday compassion.
About Genesis HealthCare
Genesis HealthCare (NYSE: GEN) is a holding company with subsidiaries that, on a combined basis, comprise one of the nation's largest post-acute care providers with nearly 400 skilled nursing centers and assisted/senior living communities in 26 states nationwide. Genesis subsidiaries also supply rehabilitation and respiratory therapy to more than 1,200 healthcare providers in 44 states, the District of Columbia and China. References made in this release to "Genesis," "the Company," "we," "us" and "our" refer to Genesis HealthCare and each of its wholly-owned companies. Visit our website at https://www.genesishcc.com .
ABOUT LTC ACO
LTC ACO is the only post-acute care sponsored Accountable Care Organization (ACO) in the United States. LTC ACO began participating in the MSSP in 2016 through GPS. GPS is the only captive SNFist company in the skilled nursing industry, has physicians, physicians assistants and nurse practitioners who make more than half a million visits annually to both short- and long-stay patients, helping improve overall healthcare quality and reduce unnecessary hospital readmissions. Visit our website at https://www.ltcaco.com/ .