Fort Myers, Fla., Oct. 31, 2022 (GLOBE NEWSWIRE) — Florida Cancer Specialists & Research Institute, LLC (FCS) has applied to participate in Medicare’s Enhancing Oncology Care Model (EOM), an alternative payment model designed to address inequities in healthcare, reduce costs and improve and report outcomes for cancer patients.
Similar to the Centers for Medicare & Medicaid Services (CMS) Medicare Oncology Care Model (OCM), which launched in 2016 and ended on June 30, 2022, the EOM is a voluntary five-year model that begins on July 1, 2023, and seeks to incorporate social needs health-related services (HRSN) and challenges to enrolled beneficiaries while focusing on improving quality and reducing overall health care costs through payment incentives and required Participant Redesign Activities (PRAs). The EOM will target patients diagnosed with seven common cancers (high-risk breast cancer, chronic leukemia, small bowel/colorectal, lung, lymphoma, multiple myeloma and high-intensity prostate) undergoing systemic chemotherapy.
“EOM’s goals embody our cultural values and align with our unwavering commitment to providing first-class, value-based cancer care in communities throughout Florida,” said FCS CEO Nathan H. Walcker. “FCS is at the forefront of healthcare transformation. We will continue to use our principles and infrastructure to further improve access for all patients, improve care coordination and outcomes, and reduce Medicare spending over time.
Michael Diaz, MD, president and chief medical officer of FCS, said, “We continue to expand our precision oncology capabilities that enhance the patient experience, improve cancer care and improve cure rates.” Diaz noted that FCS’s precision oncology knowledge base of data and information on genomic variants derived from in-house next-generation sequencing is a key part of achieving the intended outcomes of EOM by allowing medical oncologists to rapidly identify targeted therapies and clinical trials based on each patient’s specific tumor type.
“Additionally, cancer care providers participating in the VPM will need to identify health disparities and underlying social needs and health-related challenges for enrolled patients and then provide a health equity plan to address,” Diaz said. “FCS has been at the forefront of ensuring that all patients have convenient and equitable access to everything they need to achieve the best possible outcomes. We will make the most of our established 24/7 symptom management and behavioral health and nutritional health programs, as well as other patient education resources, to further improve the experience of patients and their families.”
“Through our continued participation in value-based care initiatives across the payer continuum, FCS has made substantial progress in transforming healthcare delivery, resulting in comprehensive cancer care, an efficient health economy and improved patient outcomes,” said TR Strickland, FCS Chief Executive Officer. Value-Based Care. FCS was ranked highest among the 126 US oncology practices that participated in the earlier OCM. FCS has provided care to more than 22,000 OCM beneficiaries annually and has seen more than $203 million in Medicare savings since 2016.
The EOM FCS app includes all of its clinics throughout Florida. The five-year voluntary model will begin on July 1, 2023.
About Florida Cancer Specialists & Research Institute, LLC: (FLCancer.com)
Florida Cancer Specialists & Research Institute (FCS) is recognized by the American Society of Clinical Oncology (ASCO) with a national clinical trial participation award and offers patients access to more clinical trials than any private cancer practice in Florida. Most of the new cancer drugs recently approved for use in the US have been studied in clinical trials involving Florida Cancer Specialists.* Our doctors, who are trained at prestigious medical schools and research institutes, are consistently ranked by US News & World Report as the best doctors at the national level.
Founded in 1984, Florida Cancer Specialists has built a national reputation for excellence reflected in exceptional and compassionate patient care, driven by innovative clinical research, cutting-edge technologies and advanced treatments, including targeted therapies, genome-based treatments and immunotherapies. Our highest values are embodied by our outstanding team of highly trained and dedicated physicians, clinicians and staff.
*Prior to approval
Florida Cancer Specialists & Research Institute is applying for a CMMI EOM