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Accountable care organizations (ACOs) were created to push the industry away from fee-for-service towards value-based care. Through care coordination and a shared savings payment model, ACOs strive to improve patient outcomes and population health management while keeping costs to a minimum.
With three-quarters of all the care a patient needs in a given year can be covered in a primary care setting, the organizations of physicians, hospitals, and other providers work on providing the right care in the right place at the right time – a concept central to the success of value-based care. And with the help of the alternative care delivery and payment model, providers across the care continuum are now engaging in value-based care.