The application process to join the Medicare Shared Savings Program in 2015 starts in May, as providers must submit a notice of intent to apply to the accountable care organization program by May 30.
Before jumping into the process, organizations need to take five key steps, according to an article in The National Law Review penned by Stephanie Willis and Christi Braun with Mintz Levin.
1. Estimate the number of Medicare beneficiaries the prospective ACO would cover. This helps understand the size and mix of patients the ACO would be responsible for, which is "integral to planning the appropriate infrastructure and resources needed to ensure success," according to the report.
2. Determine the contracting structure under which the ACO will be operated. Organizations need to decide what corporate entity will be used and what the governing body will look like.
3. Consider who to target as participants. There should be a mix of providers, like physicians, nurse practitioners, physician assistants, and a mix of facilities, according to the report.
4. Set expectations for participants in advance. This includes membership fees, electronic health record capabilities and how shared savings will be distributed.
5. Gather staff to complete the application. Setting milestones ahead of application deadlines is also helpful.
Applications will be posted to the CMS website on May 30 and are due back July 31.
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