On Wednesday, November 13, leading value-based care provider HarmonyCares announced that it had earned a 23% net savings rate in its first performance year (2023) for the High Needs Track of ACO REACH. This performance places HarmonyCares as the second highest performing participant in ACO REACH in the United States. Other highlights of the company’s performance include a 100% total quality score, a delivery of $9.1 million in annual total medical cost savings to approximately 700 aligned Medicare beneficiaries struggling with complex illnesses, and a gross savings rate of 26% across the first year of participation in the High Needs Track of ACO REACH.
“Our strong performance in the High Needs Track of ACO REACH is a testament to HarmonyCares’ ability to deliver high-quality care for people with Medicare who are polychronic and homebound while also driving cost savings for the healthcare system,” said HarmonyCares Chief Executive Officer Matt Chance as part of Wednesday’s press release. “The High Needs Track of ACO REACH is uniquely designed for organizations like HarmonyCares that deploy care models dedicated to patients with complex needs. By eliminating socioeconomic barriers to care and focusing on proactive, in-home primary care, we’ve been able to significantly reduce unnecessary hospitalizations and improve patient outcomes, which translates directly into savings.”
Founded in 1993 and based out of Troy, MI, HarmonyCares has made a name for itself as one of the premier providers of value-based, in-home primary care services for complex needs patients in the United States; providing in-home clinical care/house call services in 15 different states. For more information about the announcement, view the full press release below.
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