Accountable Care Organizations – Can They Solve the Healthcare Cost Dilemma?
Accountable Care Organizations (ACOs) are a hot button topic in healthcare right now for several reasons. First and foremost, since they are still the new kid on the block, there are some misunderstandings of just want constitutes an ACO and what the fundamental differences are from the former standard, HMOs. One of the primary focuses at the present time is establishing ACOs as being the go-to choice for patients (i.e. consumers) because it will allow them to broaden their access to healthcare services. Traditionally, in an HMO, a patient’s insurance coverage limits them to using only providers and services which are “in-network” with their insurance carrier. To seek care outside of the network of providers means more out-of-pocket payment is required of the patient. Access to care is therefore largely dictated by the insurance carrier, not the patient’s needs.
