The Centers for Medicare & Medicaid Services Innovation Center (CMMI) is aiming to minimize out-of-pocket health care spending in less than 10 years' time.
CMMI is hoping to increase health care affordability by 2030 while allowing providers to commit to delivering an excellent service.
“As cost pressures mount on individuals and families, CMS Innovation Center models will focus not only on reducing federal health expenditures, but also how they can help lower out-of-pocket costs for Medicare and Medicaid beneficiaries and maintain access to quality care,” CMMI's white paper stated.
According to Health Payer Intelligence, CMMI experts have determined five ways in which they want to enhance affordability for beneficiaries. One way is that CMMI will employ financial incentives for providers to support them in executing high-value care. Periodic payments could be a major factor in promoting efficiency.
It will also “leverage value-based insurance design (VBID) models to bring down costs and provide access to technologies and devices that can help beneficiaries manage their conditions,” Health Payer Intelligence reported. Utilizing payment waivers can also incentivize high-value care usage, the center experts noted. CMMI is targeting the removal of duplicative and wasteful care patterns to lower program expenditures.
The center will also focus on health equity, transformative partnerships, accountable care and care innovation.
