Accountable Care Organizations: A Case Study
Accountable Care Organizations:
The Affordable Care Act (ACA) sanctions the practice of Accountable Care Organizations (ACOs) to bring the advancement in health care space by enhancing the care quality, emphasizing patient’s safety and reduce health care costs in Medicare. This program was begun on January 1, 2012. Its target is not to create any demonstration project, instead it aims to produce an entity which can directly contract with Medicare. The Centers for Medicare and Medicaid Services (CMS) explain ACO as an association of health service providers, i.e. hospitals, physicians, insurers, and others allied with patient care reform that will work together to undertake accountability for the quality of patient care, and how money is spent
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According to a provision under the ACA, Medicare would be remunerating healthcare organizations from the savings acquired through care quality enhancement and cost reduction. It is mandatory for all the health care organization to be transformed into Accountable Care Organization to promote this shared savings program. This model also has a dominant contribution to a skillful patient treatment during the care course. Some affiliates of a particular accountable care organization provide health care same means to all the practitioners, hence the medical tests and appointments are conducted under that. If a patient pursuing second opinion or any specialist’s opinion rather than the insight of a primary care physician, he will be referred to the specialist within that organization in order to keep the patient from incurring additional …show more content…
improving quality of American health care system and curbing the care costs, at the moment numerous ways of restructuring care supply are being evaluated by CMS. Accompanying Medicare shared savings program, initiatives like Advanced Payment Incentive and Pioneer ACO demonstrations are being commenced. Other global health service organizations such as Cigna, Aetna and Anthem are also supporting this health reform model and endeavoring to improve health service system by acquiring health service providers to raise the level and quality of care supply. As well as this kind of health insurance companies provide other incentives to healthily systematized care provider
External Factors For The Memorial Herman Health Care Organization
571 Words | 3 PagesBy accommodating to these changes the organization to better serve a greater population at a greater level of quality. Laws and policies also have impacted the organization, such as the Affordable Care Act (ACA). The ACA allowed more patients to have access of healthcare services, driving the demand for health care services higher. This called for the need to increase supplies and staff for the organization. With the ever-changing technology updates, the organization must keep up to date to provide the best quality of care available which can cost an organization extra time and
Affordable Care ACO Summary
274 Words | 2 PagesThe Patient Protection and Affordable Care Act (ACA) approved the use of Accountable Care Organizations (ACOs) to provide protection, value of care and reduce health care costs in Medicare. The ACO program is a charitable program which began on January 1, 2012. An ACO represents a group of providers and suppliers of services such as hospitals, physicians, and those involved in patient care. These individuals have agreed to work together to coordinate care for the patients they serve under the original Medicare. The objective of an ACO is to provide continuous, high quality care for Medicare beneficiaries, simultaneously improve quality and lower costs.
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1417 Words | 6 PagesWhen being placed in the role of a manager, it is important to understand the finances of the organization and how to read and understand the recording of finances. It is also important to understand how all the different parts of the records fit together to give us the knowledge of where the business is financially. Knowing also the different responsibility centers related to financial recording and how they function is important as a manager. Once a manager understands what and where items belong on a balance sheet, they will better understand the state that the business is in. “It provides you with a picture of the financial health of your practice or organization on a certain date.”
Accountable Care Organizations: Similarities Between ACO And Managed Care
1683 Words | 7 PagesThe Accountable Care Organizations are a coordinated effort between healthcare providers to ensure the best quality of care delivered to the patients and at the same time at a reduced cost. This means that health care providers will voluntarily come together to form the ACO and patients will be able to get treated by any provider in the organization. Apart from that, it will reward the providers for delivering quality care. Even though the ACOs is comparatively a new concept, but its certain concepts and features are closely related to early managed care organizations (Barnes et al.,2014). Both MCOs and ACOs rely on the creation of physician network, promotion of member health and resource management to control costs.
What Is The Difference Between Cigna HMO And Heritage California ACO?
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1349 Words | 6 PagesTheir mission is “to continuously improve health care for the public, in collaboration with other stakeholders, by evaluating health care organizations and inspiring them to excel in providing safe and effective care of the highest quality and value”, (Joint Commission, 2014). The accreditation from the Joint Commission can be earned by multiple health care organizations including critical access hospitals, office based surgery centers, behavioral health care facilities, and home care services. For a hospital setting, the Joint Commission places the performance measures into accountability and non-accountability measures. They look at research and if the facility is performing evidence-based care process which improves health outcomes, proximity which the care process is linked to the patient outcomes, accuracy for whether or not the care process has indeed been provided, and any adverse effects. To earn and maintain The Joint Commission’s Gold Seal of Approval™, an organization must undergo an on-site survey by a Joint Commission survey team at least every three years (Joint Commission,
Healthcare Reform 101 Summary
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1163 Words | 5 PagesThe Effects of Regulations on Managed Care and IDS Managed Care is a health care delivery system organized to manage cost. The legal and business imperatives of managed care pervade our national healthcare system, the regulation of managed care depends on who contributes to the plan and who bears the risk for paying for the insured services. More than 170 million Americans receive health care coverage or benefits through some type of "managed care" setting.1 By 2007 about 20 percent of these services are directly provided by a health maintenance organization (HMO), while the majority are served through other managed arrangements, 60 percent in Preferred Provider Organizations (PPO) and 13 percent in Point of Service (POS) plans. Beginning
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