Keckley Report August 13, 2018
Thursday, CMS Administrator Seema Verma announced major changes to the Medicare Shared Savings Program (aka “Accountable Care Organizations”). The new version, dubbed Pathways to Success, is intended to fix problems in versions 1.0 and 2.0, but the jury’s out.
Background
Medicare is an insurance program for seniors 65 and older. It began as the centerpiece of President Lyndon Johnson’s Great Society program in 1965, providing hospital insurance most lacked. By 1966, it covered 19 million at a cost $10 billion to the federal government. Today, it covers 59 million (18% of the population) and costs $707.4 billion (20.1% of total healthcare spending).
Through the years, lawmakers expanded the program, adding coverage for physician services (Part B), prescription drugs (Part D), adults...
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