The American Oncology Network (AON) achieved savings of nearly $6 million for Medicare during the first performance period of the Enhancing Oncology Model (EOM), the alternative payment model (APM) that launched July 1, 2023.
AON leaders announced the results early today in partnership with Thyme Care, a value-based care enabler that helps oncology practices achieve savings and practice transformation benchmarks through patient navigation, palliative care, reduction of waste, and other innovations.
In addition, AON earned a performance-based payment, which is 1 of 2 reimbursement pieces available to practices under the EOM. Performance-based payments allow practices to share in the savings achieved for Medicare. Unlike CMS’ first oncology model, all practices in the EOM operate at risk, which means if they fall short of certain savings benchmarks, they may have to repay funds to Medicare.
“Our first performance period in the EOM yielded a positive outcome, validating our approach to value-based cancer care and demonstrating the strength of our leadership team, clinic staff, and partnership with Thyme Care,” AON Chief Medical Officer Stephen “Fred” Divers, MD, said in a statement early today. “This achievement reinforces AON’s leadership in alternative payment models, and we’re excited to implement new strategies to further enhance our performance in future performance periods.”