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"I have a hard time believing any objective observer could look at the results thus far to describe innovation as a success," Rep.
Anna Eshoo said during a June 13 hearing on the Center for Medicare and Medicaid Innovation.
The Washington Post reports the center was created by Congress in 2009 with a $10 billion budget "to be an engine in our drive towards value-based care," according to Rep.
Cathy McMorris Rodgers, chair of the House Energy and Commerce Committee.
The goal was to save Medicare and Medicaid money, and the Center for Medicare and Medicaid Innovation has tested more than 50 different payment models in an attempt to do just that.
But in its second decade, the Center for Medicare and Medicaid Innovation is projecting it will save only $1.3 billioninstead of the CBO's original projection of $77.5 billion.
"When CBO looked at the actual results in a September 2023 report, the disparity between those expectations and the reality proved to be staggering," McMorris Rodgers said at the hearing.
The Center for Medicare and Medicaid Innovation was created with the goal of improving the quality of care and lowering the cost of health care, according to the Center for Medicare and Medicaid Innovation's website.
In its first decade, the Center for Medicare and Medicaid Innovation projected it would save $1.3
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Selected Foundation News
A customized collection of news from foundations from around the Web.
Foundation: Outer Banks Community Foundation
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If you're in South Africa and can't make it to one of the country's colleges this summer, you can still catch some of the country's brightest young minds in action. The African University of...more
When college football player Derek Loccident tore his left foot off as a sophomore and needed a prosthetic leg, he didn't think twice about giving up on his dream of competing in the...more
Lakeside Middle School seniors Bryan Ganci and Mattie Moore have received the Good Kid Award from the Millville Woman's Club. Students are selected for the award based on their conduct, grades,...more
Foundation: William Penn Foundation
Philadelphia's Paul Robeson House and Museum is putting its money where its mouth is in a new program that aims to help artists from the city's troubled West Side. The Sachs Program for Arts...more
The nation's third-largest school district has spent more than $100 million on technology in the last three years, but it's not enough to keep up with rising technology costs. That's according to...more
"We are thrilled to be able to bring our employees and clients together again for real-time collaboration and ideating, with the goal of sparking inspiration for that next game-changing idea for our...more
Social Entrepreneurship
Spotlight
Establishing a Social Enterprise Curriculum
Several British colleges and universities have embraced social entrepreneurship in their curriculum. Pathik Pathak at Southampton have introduced n interdisciplinary module in Social Enterprise, which is open to students of all year groups and across all disciplines.