Bloomberg Businessweek - "Obamacare Shows Hospital Savings as Patients Make Gains"
Less than five months before the Affordable Care Act fully kicks in, hospitals are improving care and saving millions of dollars with one of the least touted but potentially most effective provisions of the law. While much of the focus on Obamacare has been on the government rush to open insurance exchanges by October 1, 252 hospitals and physician groups across the U.S. have signed up to join the administration's accountable care program, in which they share the financial risk of keeping patients healthy. Under the program, hospitals and physician practices take responsibility for tracking and maintaining the health of elderly and disabled patients. If costs rise beyond an agreed upon level, hospitals may become responsible for reimbursing the government. If they cut the cost of care while maintaining quality, hospitals share in the savings. "We're providing better care because we're keeping people out of the hospital," said, Dr. Kenneth Davis, President and CEO of The Mount Sinai Medical Center. Mount Sinai has reduced emergency room visits by 54 percent among high-risk patients. Learn more