The center said it received approximately 3,000 applications representing tens of thousands of providers across the nation. The Challenge will award up to $1 billion in grants to applicants who implement the most compelling new ideas for healthcare delivery, cost reduction and improved quality. Awards are slated to range from roughly $1 million to $30 million for a three-year period.
The center said more time is needed due to the diligent and thorough process it takes to review applications and determine final award recipients. No determination regarding the second cycle of funding, which was originally slated to be determined in August 2012, will be made until the first round of awardees have been announced.
More Articles on the CMS Innovation Center:
CMS Names 23 Additional Partners in Care Transitions Program
CMS Selects 73 Advisors to Drive Improvements in Healthcare Delivery
Redesigning Healthcare Delivery Through Bundled Payments for Care: Q&A With Center for Medicare and Medicaid Innovation’s Valinda Rutledge
