Accountable Care Readiness or ACO is the concept of healthcare providers (medical groups, practices and hospitals) collaborating for bringing down care costs and improving healthcare quality for specific patient population.
It is most certainly the rising phenomenon in the exceedingly competitive healthcare industry. With government regulations, audit costs and increased coverage of Medicare and Medicaid like carriers, healthcare providers are sensing an exceeding need to partner and collaborate instead of blindly competing. However, when ACO partners successfully achieve their goals, they share cost savings but the risk of failure is also shared by partners. Therefore, it is very important for you to gauge the ACO readiness of your practice before participating in ACO collaboration with another provider or agency.
To assess the feasibility of your practice becoming an Accountable Care Organization, you must evaluate the following parameters –
Medicalbillersandcoder.com largest consortium of medical biller and coders serving over 30 specialties and all 50 US States in medical billing, also offers comprehensive service in gauging your Accountable care readiness. We help you analyze all internal and external factors pertaining to your practice, pivotal to the success of an ACO partnership; assisting you in making a smart and informed decision.