Miami, FL, September 18, 2013 - Baroma, Inc. (OTCPink: BRMA) and its subsidiaries on January 1st, 2013 began its engagement with The Center for Medicare and Medicaid Services (CMS) to participate in the Medicare Shared Savings Program (MSSP), as the first Accountable Care Organization (ACO) based in Miami-Dade County, Florida. The Company’s agreement with CMS allows for the ACO to receive up to half of the savings generated by quality improvement through coordinated care and cost saving initiatives for its Medicare-Fee-For-Services population in South Florida.
"We were all very pleased to have been successful in our application to participate in this Medicare program but we are even happier with our rate of growth," says Scott Backer, CEO & Founder of Baroma. "Since January we have more than tripled our participant network and have begun the application process for two additional ACO’s (Florida & Louisiana) and expect to open 2014 with a total population of close to 20,000 patients."
ACO’s are groups of Provider and Suppliers of services who have unified under an agreement with CMS to be held accountable for the Quality and Cost of their Medicare Fee-For-Service beneficiary’s care, for a period of three years. When an ACO reaches its goals of improving their patients care while reducing the rising cost of services the ACO is entitled, according to its agreement with CMS, to share in as much as half of the saving it generate through the program.
"As a technology driven organization, Baroma has had the benefit of building its technical foundation on the latest in IT and Business efficiencies, Infrastructure (Cloud), Business Intelligence, Population Analytics and Outreach tools.' Said Ricardo Matos, CIO & Co-founder of Baroma, Inc. "We’ve leveraged the advancements in cloud computing, big data and population outreach tools to develop highly effective quality improvement and cost reduction programs at a fraction of the costs required only a few years ago."
Baroma, Inc. is a healthcare organization tasked with tackling the challenges in today’s healthcare environment. Our family of companies affect many different healthcare delivery systems while helping people live healthier lives. Having applied our capabilities across many unique markets globally we have developed the scalability and resources necessary to take on some of the most important challenges in today’s evolving healthcare landscape. As a group of leading managed care organizations we are dedicated to being the catalyst of change for a better system of healthcare delivery. This motivation drives our daily decisions as one of the region’s leading healthcare management and advisory groups. We work hard to provide our clients members and beneficiaries with the information and resources necessary to help them, and their doctors, make informed decisions about their health. Baroma, Inc.’s core businesses, all doing business as Baroma Health Partners™, offer a multitude of healthcare management services which have demonstrated enduring value in facilitating the delivery of modern healthcare. Our products and services empower individuals, expand consumer choice and strengthen patient-provider relationships across the healthcare spectrum. Baroma is a global health services company dedicated to enriching the health of our community though the coordination, integration and accountability of care.
Baroma Healthcare International, LLC, a wholly owned subsidiary of Baroma, Inc. is the first Accountable Care Organization (ACO) participating in the Medicare Shared Savings Program (MSSP) in Miami-Dade County effective January 1, 2013.
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.
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SOURCE Baroma, Inc.