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Five years ago, the term accountable care organization became a trending buzzword. However, as we quickly learned, if you’ve seen one ACO, you’ve seen just that … one ACO.
That’s because virtually all ACOs have a unique governing structure and provider participants—from physician-only, to physicians and hospital partners, or hospital and skilled-nursing facilities, just to name a few.
There really is no prescriptive definition of an ACO. The concept is evolving as the market shifts away from the traditional fee-for-service payment model in an effort to drive down the cost of care, while improving quality and health outcomes for patients.
The healthcare industry’s commitment to value-based care remains strong. Even with uncertainty surrounding the Affordable Care Act, organizations continue to expand value-based arrangements, including Beth Israel Deaconess Care Organization, or BIDCO.