I’m thrilled to share that Novant Health New Hanover Regional Medical Center ranked No. 1 last year in high-quality local health care for the federal Medicare & Medicaid programs in North Carolina. In fact, we were third in the nation.
Just as important, we saved the government and taxpayers more than $4.7 million in our Medicare and Medicaid programs in 2022. This came about through the performance of Physician Quality Partners (Novant Health New Hanover Regional Medical Center’s Accountable Care Organization, or ACO) – an organization I chair.
If you don’t work in health care, you may not have heard of ACOs. They provide a unique strategy to ensure hospitals, doctors and other healthcare providers offer coordinated, high-quality care to their Medicare patients at the best value.
The Centers for Medicare & Medicaid Services’ Medicare Shared Savings Program (MSSP) ranks hospitals and providers on how efficient we are with federal dollars – and rewards us financially for being good stewards of those dollars.
Last year, because of the $4.7 million we saved, Novant Health received a payment of $2.3 million from the government.
And we took those funds and reinvested them here to help fund key positions that help them care for the community. That includes:
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