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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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A customized collection of news from foundations from around the Web.
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Social Entrepreneurship
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In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.