The PPACA is also projected to lower costs for Medicare beneficiaries (excluding Medicare Advantage beneficiaries) by $208 billion through 2021 through lower premiums and smaller out-of-pocket costs.
CMS said there are five main areas of the PPACA that will lead to the $200 billion in savings by the end of 2016:
• $68 billion: reducing excessive Medicare payments to Medicare Advantage insurers.
• $85 billion: reforming payments through technology and efficiency training.
• $10 billion: improving patient safety through the Partnership for Patients (assuming CMS reaches its goals of reduced readmissions and hospital-acquired conditions).
• $7.8 billion: enhancing Medicare fraud and abuse measures while also negotiating the best rates for durable medical equipment.
• $41 billion: expanding several health provisions, such as increasing benefits, lowering hospital payments for HACs and adjusting premium subsidies.
More Articles on Medicare:
GAO: HHS Should Cancel $8.4B Medicare Advantage Bonus Demonstration
Report: Medicare, Medicaid Spending Driven by Enrollment, Not Costs
CMS Adds “Spending Per Hospital Patient With Medicare” to Hospital Compare
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
