As health care moves from volume-based to value-based models, consideration needs to be given to a business model that focuses on quality of care and risk sharing between physicians and payers. A variety of risk-sharing cost reduction models have emerged within CMS. Accountable care organizations (ACO), within the Medicare Shared Savings Program, is an example of one such model.
Before accepting risk contracts, physicians need a comprehensive knowledge of risks, rewards, and the underlying cost of doing business. A physician takes on risk when agreements are made, which assume responsibility for delivering or arranging health care services to patients when the total payment for delivering those services has the potential to be greater or less than the total cost for such services. The overarching goal of a value-based payment model is to provide quality, cost-efficient care for the patient, while also compensating physicians through incentives that value their services.
Attend this live one-hour webcast to learn the basics of risk in an ACO.