HHS issues more than $665M in PPACA funding to be used for innovation

HHS has announced more than $665 million in Patient Protection and Affordable Care Act funding is slated to go to 28 states, three territories and Washington, D.C., for the purpose of designing and testing healthcare payment and service delivery models.

The entities receiving funding will design and test models that are aimed at improving healthcare quality and lowering healthcare costs, according to a news release.

More than $622 million of the funds will go to 11 states — Colorado, Connecticut, Delaware, Idaho, Iowa, Michigan, New York, Ohio, Rhode Island, Tennessee and Washington — to support them as they implement their State Health Care Innovation Plans. 

The remaining amount — nearly $43 million — will support 17 states, three territories, and Washington, D.C. "to create and refine proposals for comprehensive healthcare transformation," according to the release.

"States are laboratories of innovation and serve as critical partners in transforming health care," Patrick Conway, MD, CMS deputy administrator for innovation and quality and CMO, said in the release. "States are large healthcare purchasers for their employees and residents, have broad regulatory authority over healthcare providers and payers, have the ability to convene multiple parties to improve statewide health delivery systems, and oversee public health, social, and educational services. Partnering with states on health innovation has the potential to accelerate and transform health innovation in all of these areas."

More articles on healthcare finance:

S&P downgrades CHI's credit rating, outlook negative

Cerner acquires $500M in debt to fund future projects

Evaluating potential partners: Q&A with Sherman Oaks Hospital CFO Kanner Tillman

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars

>