CMS to Fund Innovative Health Care Initiatives
The Centers for Medicare and Medicaid Services (CMS) May 15 announced a funding opportunity that will award up to $1 billion in grants to test new payment and service delivery models that will deliver better care and lower costs for Medicare, Medicaid, and Children’s Health Insurance Program (CHIP) enrollees. The second round of the Health Care Innovation Awards will be administered by the Center for Medicare and Medicaid Innovation (CMMI) to support public and private organizations in four defined areas that have a high likelihood of driving health care system transformation, the agency said. Funds will go to those applicants that demonstrate that they can improve quality of care and deliver sustainable net savings to CMS within three years. The grant program was included in the Affordable Care Act. CMS in 2012 awarded 107 first-round Health Care Innovation Awards, out of nearly 3,000 applications, to organizations that are currently testing innovative solutions to improve outcomes and reduce costs. The 107 projects will save Medicare, Medicaid, and CHIP $1.9 billion over the three-year length of the agreements. Grantees include collaborations of hospitals, doctors, nurses, pharmacists, technology innovators, community-based organizations, and patient advocacy groups in urban and rural areas. CMMI announced the […]
- »Are designed to rapidly reduce Medicare, Medicaid, and/or CHIP costs in outpatient and/or post-acute settings;
- »Improve care for populations with specialized needs;
- »Test approaches for specific types of providers to transform their financial and clinical models; and
- »Improve the health of populations.
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