|Accountable Care Options, LLC Selected to Particpate in the Next Generation Accountable Care Organization Model for 2017|
|Written by Don Silver | BoardroomPR|
|Wednesday, 22 February 2017 00:00|
Boynton Beach, FL based Accountable Care Options, LLC has been selected to participate in the Centers for Medicare & Medicaid Services’ (CMS’) Next Generation ACO Model starting January 1, 2017.
The federal government is transitioning to alternative payment models from traditional, fee-for-service Medicare payments. CMS is partnering with experienced ACOs deemed ready to assume higher levels of financial risk and reward.
“This is the next stage in a new model of payment for medical care,” said Accountable Care Options CEO Richard Lucibella. “We embrace the model’s challenges and the opportunity to produce greater financial rewards for the physician practices in our organization.”
Accountable Care Options has earned financial rewards for its members since it formed in 2013 and joined the Medicare Shared Savings Program. In its first year, physician Shared Savings payments averaged $500 per fee-for-service Medicare patient in addition to the practice’s regular Medicare reimbursement; physician practices also achieved a quality score of 100 percent from CMS. Accountable Care Options’ Shared Savings totaled $4.4 million in 2014 and $7.2 million in 2015.
Based on its successes, Accountable Care Options applied this year to the Next Generation ACO Model, whose “Better, Smarter, Healthier” approach to improving health care is based on the quality rather than the quantity of patient care provided. The Model tests whether strong financial incentives for ACOs, coupled with tools to support better patient engagement and care management, can improve health outcomes and reduce expenditures for Medicare beneficiaries.
Accountable Care Options currently has 100 primary care providers in 36 offices throughout Palm Beach and Broward counties, serving nearly 12,000 Medicare ACO beneficiaries. Most practices have one or two physicians.
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About Accountable Care Options, LLC: Accountable Care Options, LLC is a privately owned and managed network of South Florida primary care practices providing coordinated care as part of the Medicare Shared Savings Program. The Accountable Care Organization, or ACO, takes all financial risk in the program, while member physicians receive their normal Medicare payments. The network and physicians share in bonuses paid by Medicare for reaching quality care and savings goals. For more information, visit www.aco-fl.com.
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