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
And so, your thoughts and comments on this ME-P are appreciated. How do you define this new term and emerging healthcare delivery business model? Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
Get our Widget: Get this widget!
Our Other Print Books and Related Information Sources:
Health Dictionary Series: http://www.springerpub.com/Search/marcinko
Practice Management: http://www.springerpub.com/product/9780826105752
Physician Financial Planning: http://www.jbpub.com/catalog/0763745790
Medical Risk Management: http://www.jbpub.com/catalog/9780763733421
Healthcare Organizations: www.HealthcareFinancials.com
Physician Advisors: www.CertifiedMedicalPlanner.com
Subscribe Now: Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest ME-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.
Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos
Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.
Link: http://healthcarefinancials.wordpress.com/2007/11/11/advertise
