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Seventeen of the nation’s leading stakeholders in healthcare are backing a bipartisan House bill recently introduced to Congress that would reinforce Medicare’s move to value-based care.
The support of the Value in Health Care Act of 2023, a bipartisan legislation that would make several important reforms to ensure alternative payment models (APMs) continue to produce high quality care for the Medicare program and its beneficiaries, was introduced in a letter signed by the stakeholders.
This act follows the Value in Health Care Act of 2021, which was reintroduced the same day by Reps. Darin LaHood (R-Ill.), Suzan DelBene (D-Wash.), Brad Wenstrup, D.P.M. (R-Ohio), Earl Blumenauer (D-Ore.), Larry Bucshon, M.D. (R-Ind.), and Kim Schrier, M.D. (D-Wash.).
The Value Act of 2021 was created to make a series of changes to certain methodologies and components used in the Medicare Shared Savings Program, according to Congress. The program was made to enable accountable care organizations (ACOs) to receive payments for savings stemming from care coordination and management.