Issued by CMS, Center for Medicare and Medicaid Innovation (CMMI):
Last month, CMS announced a new Advance Payment Model for physician-based and rural Accountable Care Organizations selected to participate in the Medicare Shared Savings Program. The selected ACOs will receive advance payments that will be recouped from the shared savings they earn.
Organizations interested in applying for the Advance Payment Model must complete separate applications for the Shared Savings Program and the Advance Payment Model.
Deadlines for the Advance Payment Model application are as follows:
· April 1, 2012 start date
o Applications accepted between January 3 and February 1, 2012
· July 1, 2012 start date
o Applications accepted between March 1 and March 30, 2012 (consistent with Shared Savings Program)
Note that the Advance Payment Model will NOT require a Notice or Letter of Intent as part of the application. A template of the application will be available on the Advance Payment website later this fall.
Only ACOs that enter the Shared Savings Program in April 2012 or July 2012 will be eligible for advance payments.
Visit the Shared Savings Program website for more information on the Shared Savings Program application, including application deadlines.
For information about all CMS ACO initiatives, visit www.cms.gov/aco.