Here’s what you need to know.
1. The model mirrors the Medicare Shared Savings Program, and advances efforts to collaborate with states to “transform” healthcare delivery systems.
CMS’ Acting Principal Deputy Administrator Patrick Conway, MD, said the model will improve care coordination lessening the amount of administrative work for physicians.
“In the long run, this partnership will result in healthier people and smarter spending,” Dr. Conway said.
2. CMS created the model to award quality of care and not quantity, and is in line with value-based care initiatives.
3. Under the current model, ACOs aren’t held financially accountable for Medicaid expenditures. Under this new model, the ACOs will focus on quality of care and Medicare and Medicaid costs.
4. CMS is accepting letters of intent from states that want to create “state specific” elements of the model. The ACO model is open to all states in the U.S.
More articles on coding, billing and collections:
Independent Health and Chautauqua IDS create value-based agreement: 3 notes
ACA enrollments hits all-time high for single day
Republicans’ letter chides Obama’s administration over Medicaid expansion spending: 3 things to know
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.