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Healthcare providers are continuing to form and invest in Accountable Care Organizations (ACOs) as a means of improving care quality and reducing costs.
Some of the largest ACOs serve upwards of hundreds of thousands of patients, while, overall, 13.7 million Medicare beneficiaries are being cared for by ACOs this year, according to the Centers for Medicare & Medicaid Services (CMS).
A key component of the healthcare industry’s push towards value-based care, ACOs place a heavy emphasis on delivering preventive care to patients to reduce costs, which may be particularly impactful for those experiencing chronic conditions. Approximately 90% of the nation’s $4.5 trillion in annual healthcare expenditures goes toward people with chronic and mental health conditions, such as heart disease, cancer, and diabetes, according to the U.S. Centers for Disease Control and Prevention (CDC).