Fort Myers, Fla., October 31, 2022 – Florida Cancer Specialists & Research Institute, LLC (FCS) has submitted an application to participate in Medicare’s Enhancing Oncology Care Model (EOM), an alternative payment model that aims to address healthcare inequities, 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 June 30, 2022, the EOM is a voluntary 5 year-model , starting on July 1, 2023 and looking to incorporate health-related social needs (HRSNs) and challenges for enrolled beneficiaries while concurrently aiming to improve quality and reduce the overall cost of healthcare through payment incentives and required participant redesign activities (PRAs). EOM will focus on patients diagnosed with seven common cancers (high-risk breast, chronic leukemia, small intestine/colorectal, lung, lymphoma, multiple myeloma and high intensity prostate) who are undergoing systemic chemotherapy.
“The goals of EOM embody our cultural values and align with our steadfast commitment to delivering world-class, value-based oncology care in communities across Florida,” said FCS Chief Executive Officer Nathan H. Walcker. “FCS is on the leading edge of healthcare transformation. We will continue to leverage our principles and infrastructure to further improve access for all patients, improve care coordination and outcomes, and reduce Medicare program spending over time.”
Michael Diaz, MD, FCS President & Managing Physician, said, “We continue to scale our precision oncology capabilities that are enhancing patient experiences, advancing cancer care and improving cure rates.” Diaz noted that FCS’ propriety precision oncology knowledge base of data and genomic variant information derived from in-house next generation sequencing is a key component of achieving the EOM’s intended results, by enabling medical oncologists to rapidly identify targeted therapies and clinical trials based on each patient’s specific tumor type.
“Additionally, oncology care providers participating in the EOM will be required to identify health disparities and underlying health-related social needs and challenges for enrolled patients and subsequently 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 best use of our established programs for 24/7 symptom management and behavioral health and nutritional health, as well as other patient education resources to further enhance the experience for patients and their families.”
“Through our ongoing participation in value-based care initiatives at across the entire payer continuum, FCS has made substantial strides in transforming health care delivery, resulting in comprehensive oncology care, effective healthcare economics and improved patient outcomes,” said TR Strickland, FCS Senior Director of Value-Based Care. FCS was ranked at the top among the 126 U.S.-based oncology practices that participated in the earlier OCM. FCS provided care for more than 22,000 OCM beneficiaries annually and recorded more than $203 million in Medicare savings since 2016.
FCS’ EOM application encompasses all its clinic locations across Florida. The five-year, voluntary model will begin on July 1, 2023.