The Centers for Medicare and Medicaid Services (CMS) recently announced the forming of 106 new Accountable Care Organizations (ACOs). Since the Affordable Care Act has been passed, more than 250 ACOs have been formed.
Among the list of recently approved ACOs are 15 Advance Payment Model ACOs. In this model, participants will receive upfront and monthly payments, which they can then use to make important investments in their staff or care coordination infrastructure. According to the CMS, Medicare’s ACO partners will now serve more than 4 million beneficiaries across the country.
“Accountable Care Organizations save money for Medicare and deliver higher-quality care to people with Medicare,” Health and Human Services Secretary Kathleen Sebelius said. “Thanks to the Affordable Care Act, more doctors and hospitals are working together to give people with Medicare the high-quality care they expect and deserve.”
Although senior living providers cannot officially join Accountable Care Organizations, the incentives for hospitals and other healthcare providers may allow for senior living communities to engage in meaningful partnerships. Health care providers in ACOs have a greater stake in cost savings and long term outcomes of their patients, which offers an opportunity for senior living providers to educate hospitals about their affordability and ability to reduce readmissions.
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