The CMS shared savings program saved the second largest amount in 2022 since the inception of the program more than 10 years ago, CMS said Aug. 24.
The $1.8 billion figure is still a very small amount of the overall Medicare budget of $747 billion, or 0.24 percent of the total.
The program joins groups of physicians, hospitals and other healthcare providers together in so-called Shared Savings Program Accountable Care Organizations. Such groups collaborate to provide focused care for Medicare patients with an eye on saving costs and raising healthcare quality.
"We are encouraged and inspired by six consecutive years of savings and high-quality care, with 2022 being one of the strongest years of performance to date," said Meena Seshamani, MD, PhD, CMS deputy administrator and director of the Center for Medicare. "The Shared Savings Program is Medicare's permanent, flagship Accountable Care Program, and we look forward to continually improving and growing the program, expanding the reach of participating ACOs, and addressing critical health disparities across the country."