CMS announced last week it will provide up to $840 million over four years to 150,000 clinicians to share, adapt and develop quality improvement strategies as part of its Transforming Clinical Practice Initiative, according to a statement from CMS.
Eligible applicants can receive funding in two types of networks: Practice Transformation Networks and Support and Alignment Networks. Through Practice Transformation Networks, group practices and healthcare systems work directly with clinician practices to provide peer support for the transition from volume-based care to value-based care. Through Support and Alignment Networks, eligible medical organizations receive funding to sustain and improve workforce development tools such as continuing medical education, maintenance of certification, and core competency development.
The Transforming Clinical Practice Initiative is one in a series of Patient Protection Affordable Care Act programs intended to incentivize clinicians and hospitals to transition from volume-based practices to value-based, patient-centered care. These programs include the Hospital Value-Based Purchasing Program, accountable care organization programs and the Partnership for Patients initiative with Hospital Engagement Networks. Quality improvements as a result of the PPACA have saved 15,000 lives and $4 billion in health spending in 2011 and 2012, according to CMS. The Transforming Clinical Practice Initiative aims to apply previously successful programs to other medical providers.
CMS is accepting applications to both funding opportunities through Jan. 6, 2015. CMS advises sending a letter of intent by Nov. 20, 2014. For more information, visit innovation.cms.gov. To apply, visit grants.gov.
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