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ACO Glossary of Terms from CMS, etc
By Staff Reporters
According to Wikipedia, an Accountable Care Organization, or ACO for short, is a health system model with the ability to provide and manage patients, in the continuum of care across different institutional settings, including at least ambulatory (outpatient) and inpatient hospital care and possibly post acute-care in some cases.
Payment is consolidated rather than ala’ carte’, and generally considered cost effective and “bundled”.
Budgetary Accountability
Furthermore, ACOs have the capability of planning budgets and resources and are of sufficient size to support comprehensive, valid, and reliable performance measurements.
Source: http://en.wikipedia.org/wiki/Accountable_care_organization
CMS Definition
Now, aaccording to the CMS Office of Legislation; Section #1899.
ACO Definition: accountable care organization
Medical Provider Market Power and the American Hospital Association
AHA definition: AHA – ACOs
Assessment
The ACO model is one of the latest designs for managing healthcare costs and especially Medicare costs, and is gaining traction among policymakers desperate to control costs and boost quality in healthcare.
Conclusion
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Filed under: Glossary Terms, Practice Management | Tagged: Accountable Care Organization, ACO | 24 Comments »
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