Golden Life Accountable Care Organization (ACO) was
started in July 2012.
In its first year, this organization spent
total on its 10,257
individual beneficiaries (including beneficiaries only in the ACO for a partial year).
By comparison, in its benchmark year, it spent $163,829,373 per beneficiary, a difference of -$72,494,752. The ACO successfully reported, but failed to earn its participants any savings.
This is a Track 1 Shared Savings ACO which means it has accepted
only upside with no downside risk in exchange for a smaller maximum shared savings rate.
If the ACO spends less than 2.98%
per-beneficiary compared to the benchmark years, the participants will
be paid 50% of the savings.
ACOs can request early payments to help finance the startup costs of the ACO. This ACO accepted $1,918,504 in advanced payments.
The 10,257 individual
beneficiaries spent a total 7,916
person-years in the ACO. Partial years are frequently due to things such as new medicare
members entering the ACO and death.