A few years ago, Arkansas state officials had to find a way to improve the quality of medical care while cutting costs. They faced an 8% annual increase in Medicaid costs coupled with a potential budget shortfall of $140 million for the Division of Medical Services.
Hoping to fulfill both goals, the state launched the Arkansas Health Care Payment Improvement Initiative, which set up a value-based reward system. Providers that demonstrated value while delivering high-quality care would share 50% of the savings.
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Source: COMPUTER WORLD