A report released Friday shows Mosaic Life Care is using dollars wiser while maintaining high-quality care.

The Centers for Medicare & Medicaid Services issued its 2014 quality and financial performance results Friday.  Mosaic said the report shows that more Medicare Accountable Care Organizations (ACOs) have continued to generate financial savings while improving the quality of care for Medicare beneficiaries by fostering greater collaboration between doctors, hospitals, and health care providers.

Mosaic Life Care is one of the ACOs that generated shared savings.

“This is our second year of successfully achieving savings for the Medicare program,” says Mark Laney, MD, Mosaic Life Care CEO. “That’s great, but we were even more pleased to learn that we are second in the nation for quality, which means we are generating savings while providing some of the most excellent care available.”

In 2014, 20 Pioneer and 333 Shared Savings Program ACOs generated more than $411 million in savings, which includes all ACOs savings and losses.

Medicare ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to provide coordinated high quality care to their Medicare patients. Mosaic said the goal of coordinated care is to ensure that patients, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors. When an ACO exceeds quality and financial thresholds – demonstrating achievement of high-quality care and wiser spending of health care dollars – it is able to share in the savings generated for Medicare.