UNDER HEALTHCARE REFORM, YOU MAY BE JOINING AN ACO, ELIZABETH TRACEY REPORTS
Add ACO to the list of medical acronyms you’re likely to need. ACO stands for ‘accountable care organization,’ and under healthcare reform may become your new provider. Edward Miller, dean of the Johns Hopkins School of Medicine, explains how one such model could work.
MILLER: You take care of all the health needs for a population for a sum of money that’s sent to you, probably per member per month, and you take care of all their needs. That’s a very interesting problem if you do that because you have to live within the monies that you receive and at the same time provide the care. :17
Miller says there is something new here.
MILLER: A lot of people say is this HMO? The difference there is that the HMOs were controlled by the insurance company so if the HMO made a profit it went to the shareholders. In the accountable care organization if there’s profit it stays within the organization or it might be some sharing. :17
Miller says consumers should keep their antenna up as ACOs will likely start advertising soon. At Johns Hopkins, I’m Elizabeth Tracey.