30 Second Insurance Tips©

Tip 181- Accountable Care Organizations

Accountable Care Organizations (ACOs) are groups of doctors, hospitals, and other health care providers, who come together voluntarily to give coordinated high quality care to their patients.

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 Affordable Care Act created incentives, so that when an ACO succeeds both in both delivering high-quality care and spending health care dollars more wisely, it will share in the savings it achieves for the Medicare program.

Two high profile collaborations announced in recent days suggest we’ll be hearing a lot more about ACO’s.

Are health care consumers ready to select a limited network of providers in exchange for lower premiums?