Accountable Care Organization (ACO)
Medicare Accountable Care Organizations (ACOs), Track 1+, Track 2 and Track 3
Accountable Care Organizations (ACOs) are groups of healthcare organizations (practitioners, hospitals, and other care-giving organizations) who team up to give coordinated, high quality care to the Medicare beneficiaries they serve. The goal of coordinated care is to ensure that patients, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors.
The core mission of an ACO is to provide better care for Medicare patients, thus saving money for both the providers and patients, while helping to control waste in the Medicare system.
Track 1+ Model ACOs assume limited downside risk, less than Track 2 or Track 3. Track 2 and 3 ACOs may share in savings or repay Medicare losses depending on performance. Track 2 ACOs may share in a greater portion of savings than Track 1 ACOs. Track 3 ACOs take on the greatest amount of risk but may share in the greatest portion of savings if successful.
Why are ACOs important?
Providers within Accountable Care Organizations share both a financial and medical responsibility to keep their patients healthy.
By providing care within a specified network, losses and inefficiencies will be lowered. Ideally, benefits can be realized for both patient and provider:
- Better care for patients, especially those with chronic disease.
- Less waste in the Medicare system.
- Physician-driven treatment.
- Financial incentives for successful ACOs.
What you can expect
For providers, operating successfully within the ACO can lead to financial rewards. For patients, lowered overall billing and lack of duplicative services should allow them to see less money spent for higher quality care.
How ReportingMD can help you excel under an ACO program
The design of ACOs is based around sharing of information. For organizations that are already using some sort of EMR, this task is made easier with Total Outcomes Management (TOM™).
Many institutions have found success in meeting the first tiers of requirements. However, as time goes on, the requirements are reassessed, and optimization becomes more complex. With the proven experience of our team and the powerful measure calculation engine, TOM™, ReportingMD can help you establish the reporting framework necessary to optimize your organizations incentive programs.
Using TOM™, practices can gain complete operational visibility, and avoid downward reimbursement adjustments. TOM uses cloud-based architecture and aggregates data from multiple sources to Identify patients at risk and manage patient care gaps.
Learn why ACOs rely on ReportingMD for powerful tools that help improve patient care measurement, improve quality outcomes, and maximize reimbursement.