Changing Face of Healthcare
Accountable Care Organizations & the Changing Face of Healthcare
Held Thursday, March 31, 2016 at Wesley Enhanced Living Pennypack / Wesley Hall
An Accountable Care Organization, such as Mercy Accountable Care, LLC, is a group of physicians and other healthcare providers who work together to become accountable for, and report to payers, the quality, cost, and overall care of a population of patients.
Mercy Health System formed an ACO in the Fall of 2014 in order to be successful in the changing healthcare environment, where healthcare providers must be willing and able to take on financial risk over time, while effectively and holistically managing the health status of each member of a defined population across the continuum of care.
Forming an ACO is the first of many steps along the path towards comprehensive accountability for the well-being of all those we serve. Mercy Accountable Care is beginning to operate in a performance-based environment without bearing full financial risk while we build the infrastructure to succeed in the changing healthcare environment.
Here are some important facts about Mercy Accountable Care, LLC:
* Mercy Accountable Care is a physician-led organization with a physician-led Board of Directors
* Mercy ACO aims at achieving the Triple Aim of better care, better health, and lower costs
* There is no cost for physicians to join Mercy ACO or be enrolled in value-based contracts; there are however, opportunities for financial rewards of the portion of savings
* Mercy Accountable Care can provide physicians and their practices invaluable resources including population health data analytics and care coordination programs
* Participating in Mercy ACO will not change the way services are billed for at the practice level and is not in any way capitation or physician employment
Nancy Cherone, FACHE, is executive director of Nazareth Hospital in Northeast Philadelphia. She joined Nazareth Hospital as vice president, operations in 2009. Nancy has over 25 years’ experience in healthcare administration and delivery. A graduate of Philadelphia College of Textiles and Sciences, she began her career as an RN at Delaware Valley Medical Center. She received a Master’s Degree in Health Administration from St. Joseph’s University and is a Fellow of the American College of Health Care Executives. Nancy previously served as a vice president at Frankford Hospitals, as well as site administrator.
Daniel Bair is executive director for Mercy Accountable Care, LLC, providing leadership, direction and support in the development and management of Accountable Care Organization (ACO) operations. Dan joined Mercy Health System in October 2008 as administrative director for the Cardiovascular Service Line and was appointed vice president for Cardiovascular and Radiology Service Lines in February 2013. Prior to joining Mercy, Dan was chief operating officer for Westfield Hospital, a private acute care general hospital located in the Lehigh Valley. Dan holds a Master’s of Science Degree in Healthcare Administration from St. Joseph’s University, and is a Fellow of the American College of Healthcare Executives.
Mathew Mathew, MD, FACP, recently joined Mercy Accountable Care, LLC, as medical director, Performance Improvement and Population Health. In his previous role as chief medical officer at Nazareth Hospital, Dr. Mathew led the hospital’s senior strategy. Dr. Mathew also maintains a practice as part of Mercy Primary Care at Wesley Enhanced Living Pennypack, a senior living community in Northeast Philadelphia.
Dr. Mathew is an assistant professor of medicine, Department of Medicine at Drexel University College of Medicine. A graduate of the University of Kerala Medical School in India, Dr. Mathew completed his residency at Penn Presbyterian Medical Center of Philadelphia/University of Pennsylvania Hospital. He is a Fellow of the American College of Physicians and board certified in Internal Medicine.
Ken Franiak was appointed chief operating officer of Wesley Enhanced Living in April 2010 after serving as WEL’s chief financial officer since April 2005. As COO he leads all facets of operations and ensures execution of WEL’s vision among its 1,500 residents and 900 employees.
Ken brings nearly 25 years of accounting, financial management and operations experience in the health care and long term care industries to his role at WEL. He formerly served as principal and president of hospitality services company, The Prosperitas Group, where he directed financial and operations functions. Ken holds an MBA in finance degree from La Salle University and a Bachelor’s of Arts degree in accounting from Moravian College.