International law firm McDermott Will & Emery LLP is pleased to note the Firm’s role in advising six of the thirty-two leading healthcare organizations selected this week by the Department of Health and Human Services (HHS) to participate in the new Pioneer Accountable Care Organizations (ACOs) initiative created under the Affordable Care Act (ACA).
Representing nearly 20 percent of the Pioneer ACOs, McDermott’s Health Industry Advisory practice group continues to play a significant role in helping leading health systems to leverage the new rules and policies set under the ACA to deliver high-quality care and services, and produce significant cost savings throughout the healthcare value chain. HHS has estimated that the initiative announced yesterday could save up to $1.1 billion over a five year period.
“As the leading Health practice in the legal industry today, we are extremely proud to have played a part in this first initiative by HHS to create innovative health systems that change the way health care is both delivered and priced in this country,” said Stephen W. Bernstein, partner and head of the Firm’s Health Industry Advisory practice group. “Our health system clients have worked tremendously hard to meet the many detailed operational and clinical requirements to become a Pioneer ACO, and we commend them for their vision and diligence in seeing this through. The nation will be watching how these particular Pioneer ACOs perform, and we intend to continue helping guide all of our clients in the evolving process of achieving the over-arching goal of accountable care both in the Medicare and private-pay contexts.”
McDermott’s health attorneys counseled Firm clients such as Allina Hospitals & Clinics as they went through the ACO selection and approval process.
“Allina is proud to be one of the pioneer organizations that is focused on providing a lifetime of wellness and care for our patients,” said Penny Wheeler, MD, Allina chief clinical officer. “This is an exciting time for Allina and for those systems that have been invited to participate in the Pioneer ACO program and other new models that will reward better and more affordable care.”
The Pioneer ACO initiative, operated by the Centers for Medicare & Medicaid Services (CMS), will reward ACOs based on how well they are able to improve the health of their Medicare patients and lower their health care costs. Of the 160 organizations that submitted the required Letter of Intent, only 80 submitted applications, from which the 32 were selected to participate.
Recently ranked by Chambers USA as the #1 ranked Health Law Practice in the United States, McDermott’s Health Industry Advisory practice group will be releasing an update to its White Paper, “The Controversial Medicare ACO Regulations: Analysis, Comments and Recommended Action” on December 27, which will reflect the impact of the final regulations.
McDermott Will & Emery has one of the largest and most prestigious Health law practices in the world, counseling leading organizations in every major sector of the health and life sciences industry on legal, regulatory and business transaction issues. McDermott is the only firm to receive Tier 1 rankings in Health Care from both Chambers USA and Legal 500 USA in 2011. For the second consecutive year Chambers USA ranked the Firm’s Health practice as the only Tier 1 Health Practice in the United States.
