HealthLynked subsidiary ACO Health Partners reports nearly $768,000 in shared savings revenue thanks to collaborative Medicare approach

HealthLynked Corp (OTCQB:HLYK) said Thursday that ACO Health Partners LLC, an accountable care organization owned by HealthLynked subsidiary Cura Health Management LLC, reported its third consecutive year of shared savings.

ACO Health Partners, which works with healthcare providers to give coordinated high quality care to Medicare patients, was able to reduce costs for Medicare by nearly $1.5 million and net itself $767,743 in shared savings revenue, according to performance results by the federal agency that handles Medicare.

In addition, the group’s 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, according to a statement. Savings are anticipated to grow at the same rate or better, ACO added.

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The firm also earned a positive quality score by meeting its performance metrics like preventive health checks and use of computerized health records, it told investors.

“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,” Marsha Boggess, CEO of ACO’s parent compay Cura Health Management said in a statement.

“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.”

The patient-centric approach helps patients take advantage of preventive care programs such as annual wellness visits and recommended screenings and programs designed to smooth transitions from facility care to home, Boggess added.

Naples, Florida-based HealthLynked entered the ACO space in 2019 through the acquisition of Cura Health.

“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, HealthLynked’s CFO.

“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.”

Contact Angela at [email protected]

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Story by ProactiveInvestors