The federal government has been working for decades to control the cost of healthcare. Because of the cost of medical equipment, education, research, and long-term costs associated with chronic conditions, which the US will see more of as its population ages, healthcare spending is one of those areas that we naturally expect to always be on the rise.The question is how does the system prevent increases in spending to get out of hand.As the federal agency that administers Medicare and oversees work with states to manage Medicaid, the Centers for Medicare and Medicaid Services (CMS) have been experimenting with different models of healthcare organization to reduce long-term costs. One such model is the accountable care organization (ACO), but do they actually introduce the cost savings that they promise?
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Do Accountable Care Organizations Work?
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The federal government has been working for decades to control the cost of healthcare. Because of the cost of medical equipment, education, research, and long-term costs associated with chronic conditions, which the US will see more of as its population ages, healthcare spending is one of those areas that we naturally expect to always be on the rise.The question is how does the system prevent increases in spending to get out of hand.As the federal agency that administers Medicare and oversees work with states to manage Medicaid, the Centers for Medicare and Medicaid Services (CMS) have been experimenting with different models of healthcare organization to reduce long-term costs. One such model is the accountable care organization (ACO), but do they actually introduce the cost savings that they promise?