New Rules for ACOs
Accountable Care Organizations (ACOs) may have an additional three years before penalties would be enforced for poor performance, according to a new proposal by the Federal government. These groups of doctors, hospitals, and providers that care for Medicare patients work jointly as ACOs toward the goal of retaining whatever additional financial resources are left over after completed care. Currently, there are about 330 ACOs in the United States, and together they have saved Medicare more than $700 million in healthcare spending.
Revamping Your Revenue Cycle for 2015 |7 Things to Consider
There are few aspects of healthcare that are more controversial, confounding and frustrating than payment reform. It’s hard to imagine that there was ever a time when patients just paid the doctor for their services. Since that payment method created economic disparities in access among the rich and the poor, several reforms later we find ourselves somewhat on the opposite end of the spectrum: more patients than ever can have access to care, but the process for compensating physicians hasn’t been able to keep up. Doctors are rendering services without receiving payment – and their practices can’t sustain on that type of arrangement!
Is Accountable Care a Fad or a Way of Life?
Accountable care transition is still a hot topic in healthcare – and it’s likely to remain so for many years to come as the reform continues. For many organizations, taking the leap to accountable care status might seem inadvisable – is it just a fad? Are these changes here to stay? If they are, is my organization ready? There are a lot of questions to ask, but organizations who are in this stage of their accountable care deliberations should rest assured that they aren’t alone – many organizations all across the U.S. are asking themselves that same question.
How to Succeed as an Accountable Care Organization
Accountable care has certainly made some important strides in terms of addressing how physicians are paid for the services they provide, but for accountable care to work fully, we need to change the way healthcare providers practice medicine. Accountable care needs to be framed as accountable medicine – because the only way for the changes proposed by the ACA to take full effect and become sustainable, long term practices is to start at the source and change the way that we practice medicine.
Recent Insights into Bundled Payments
Bundled payments have been a popular topic of discussion in the world of accountable care. In fact, some research shows that bundled payments and accountable care will make up two thirds of all payments by 2020. But the results of a study recently released by the RAND Corporation showed that as a payment model, bundled payments simply fell short.
Secrets of Population Health Management Infographic
In the wake of Ebola, healthcare systems worldwide are focusing more than ever on defining – and refining – their population health initiatives. Smart thinking on multiple accounts, if you think about where we’re headed in terms of healthcare reform. Hospitals that are moving towards population health initiatives now will be far better prepared for the overall shift to accountable care that’s on the horizon.
Eeny Meeny Miney Money | Understanding Fee for Service Alternatives
When we look at the fee-for-service model from only one perspective, it’s easy to condemn it as “the reason” healthcare spending has spiraled out of control. When it comes to how providers bill for services, having the ability to bill for anything and everything could, and certainly did, encourage the ordering of too many tests and procedures, even unnecessary ones. The idea of value-based payment models not only encourages providers to make more mindful choices, but cost-effective ones too. It also challenges healthcare systems, pharmaceutical companies and patients to be even more vigilant about healthcare costs. Fees are relative to each party involved.
The Basics of ACOs in Less Than 6 Minutes Video
Are you confused about ACOs – what they are, how they function, what their purpose is? We have all heard the term ACO and most of us know that stands for Accountable Care Organization. Stretching past these basics, the waters become a bit more muddied. So what is an ACO and how does it work? Do you have 6 minutes? Following is a great video created by OSF Healthcare. The video gives a great overview of what an ACO is as well as the goals. Some of the highlights include:
New CMS Report Shows Continued ACO Success
The Centers for Medicare & Medicaid Services (CMS) released a new set of quality and financial performance findings on September 16, 2014. These findings showed Medicare Accountable Care Organizations had elevated the quality of care for recipients through preventative health initiatives and collaborative efforts between doctors, hospitals, and care providers.
ACO Prescription: Cure or Disease? Infographic
We would love to hear your opinions on ACOs – the good, the bad, and the ugly. What successes have you achieved? What issues have arisen? How are ACOs seen from a patient perspective?