What is the ACA?
The Patient Protection and Affordable Care Act (PPACA) commonly called the
Affordable Care Act (ACA) is a United States federal statute signed into law by President Barack Obama on March 23, 2010.
The ACA was enacted with the goals of increasing the quality and affordability of health insurance, lowering the uninsured rate by expanding public and private insurance coverage, and reducing the costs of healthcare for individuals and the government. It introduced a number of mechanisms – including mandates, subsidies, and insurance exchanges – meant to increase coverage and affordability. The law also requires insurance companies to cover all applicants within new minimum standards and offer the same rates regardless of pre-existing conditions or sex. Additional reforms aimed to reduce costs and improve healthcare outcomes by shifting the system towards quality over quantity through increased competition, regulation, and incentives to streamline the delivery of healthcare.
What is an ACO?
An Accountable Care Organization is comprised of a group of healthcare providers who work collaboratively to deliver coordinated care and chronic disease management, improving the quality of care patients receive.
A participating organization`s payment is tied to achieving healthcare quality goals and outcomes that result in cost savings. Medicare ACOs were formed by the Patient Protection and Affordable Care Act of 2010 (PPACA), with Medicaid and commercial accountable care organizations following suit.
Why should this matter to those in healthcare?
Our healthcare world has always been one of constant flux. However, these two changes will transform how we do business, how we provide services, how we bill and are paid and more importantly … how we sell and market. Gone are the days of muffin marketing and social events. The need to develop long-standing trusting relationships with key accounts is now not only important … it is critical.
Creating an environment conducive to building a strong ACO requires several structures to be in place.
- Senior Leadership committed to the importance of their support and involvement
- Product Excellence that meets the ever-changing needs of the hospitals and physicians
- Skilled, knowledgeable sales people dedicated to building long-standing trusted relationships
While these may seem simple, they are far from easy to accomplish. Ledgerock Consultant Dan Wood has the experience behind him to assist with the planning, strategy and execution of a plan for your company.
Contact him or any Ledgerock Consultant today for more information on developing your ACO relationships.