Accountable care participation grows in 2024
More providers are participating in cost-cutting alliances of hospitals, doctors and other providers who care for groups of Medicare patients, according to new federal data.
But participation in Medicare's dominant value-based payment program is still hovering at levels similar to 2019.
By the numbers: About 13.7 million Medicare patients this year are cared for by accountable care organizations, a 3% increase from last year, the Centers for Medicare and Medicaid Services said.
Nearly 817,000 providers are participating, compared with 700,000 in 2023, according to CMS.
Why it matters: The Biden administration wants to bring all Medicare beneficiaries into value-based care models by 2030, and ACOs are key to achieving that goal.
The Affordable Care Act created ACOs as a way to improve efficiencies and control costs by letting the providers retain more money if they hold down expenses. But the savings still are a small fraction of what Medicare spends annually.
Zoom in: This year, 480 groups will care for 10.8 million patients through Medicare's flagship ACO initiative, the Shared Savings Program.