Published By: Allscripts
Published Date: Oct 14, 2015
Independent physician practices are weighing their options as fee-for-service reimbursement models shift to value-based-care models, such as Accountable Care Organizations (ACOs). Download this white paper to learn more about forming ACOs.
Like healthcare organizations elsewhere, reducing readmissions had become a top priority by 2011. Advocate, the state’s largest healthcare provider, had just signed its first shared savings agreement with Blue Cross Blue Shield of Illinois to become one of the first commercial accountable care organizations (ACOs) in the country. This event, along with others such as signing up as a Medicare Shared Savings Provider, led to re-evaluating the care continuum throughout Advocate Health’s 250 sites of care, including 13 acute-care hospitals, two children’s hospitals and a growing home healthcare division.
The transition from fee-for-service to value-based reimbursement has been a challenge for many providers. Financial incentives that favored high service volumes must now be re-focused to accommodate alternative models such as bundled payments and accountable care organizations (ACOs).