What is an ACO?
Accountable Care Organizations (ACOs) are group of health care providers, who come together voluntarily to give coordinated high quality care to their Medicare Fee-for-Service beneficiaries. 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.
How did the ACO's come about?
The Patient Protection and Affordable Care Act of 2010 (PPACA) created Medicare ACOs
How will my practice benefit from ACO?
ACO providers can choose to participate in a Medicare based shared savings model with no financial risk for the first three years of participation. The ACO participants have the potential to realize up to 50 percent of shared savings.
By participating in an ACO, physicians may have access to agreements with payers that might otherwise exclude them, and will also have the opportunity to participate in the development of protocols for their Network providers and the governance of the ACO
Is there any risk involved in the ACO model?
No. Participants are joining forces in reducing Medicare costs while improving the quality of care and benefiting from Shared Savings.
I have decided to participate in an ACO; Why West Florida ACO?
You have made the right decision. Congratulations and Welcome!
West Florida ACO is one of the first 27 ACOs to be approved by CMS in April 2012. We currently have over 60 Practices and care for more than 17,749 Medicare beneficiaries in the Tampa Bay region.