February 2, 2024- The Centers for Medicare & Medicaid Services (CMS) announced increased participation in CMS’ accountable care organization (ACO) initiatives in 2024. Increased participation will increase the quality of care for more people with Medicare. 19 newly formed accountable care organizations (ACOs) are participating in a new payment program which will enable ACOs to receive advanced interest payments to care for underserved populations.
CMS’ priorities are to expand access to affordable care and health coverage for users of Medicare across the nation. ACOs are groups of doctors, hospitals, and healthcare professionals that work together to better coordinate patient care and improve health outcomes. Accountable Care Initiatives will support ACOs, providing tools and financial support to healthcare organizations so they can deliver better care to patients through programs like the Medicare Shared Savings Program and Innovation Center accountable care initiatives.
50 new ACOs joined the program in 2024, and 71 renewed their participation, bringing the new total to 480 ACOs in the Shared Savings Program. Overall, in 2024 there are about 13.7 million people with Traditional Medicare aligned to an ACO, according to CMS.