Genesis Physicians Group of Dallas was part of a group of TMA PracticeEdge ACOs that earned more than $7 million in shared savings while caring for 26,500 Medicare beneficiaries in 2018.
Of the 53 Texas ACOs that achieved quality requirements from the Centers for Medicare and Medicaid Services, only 28 lowered the cost of care. TMA PracticeEdge helps individual physicians form ACOs and remain independent, and leads 15 physician-owned ACOs statewide, assisting in data analytics, technology, and clinic management.
“When the Texas Medical Association created our organization in 2015, we knew that with the right tool set, ACOs owned and led by physicians could deliver the quality improvement and cost efficiency needed to succeed in emerging value-based care models,” said David Spalding, chief operating officer of TMA PracticeEdge via release.
Genesis Physicians Group achieved $3.4 million in shared savings in its first year as part of the Medicare Shared Savings Program, where CMS gives ACOs back a portion of the money they saved through more efficient treatment. The ACO ranked in the top three in Texas for patient satisfaction scores.
“In our first year with the MSSP Track 1+ contract, Genesis physicians enthusiastically embraced population health strategies to address avoidable health care expenses and utilization for our 7,900 Medicare-insured patients,” said Dr. Jim Walton, President and CEO of Genesis Physicians Group. “As a result, we reduced costs by $438 per Medicare beneficiary while increasing preventive care services and patient satisfaction. These results support the conventional wisdom that independent physician organizations have an important role to play in the future of health care delivery for Texans.”