ACO Definitions

  • A

    accountable care organization (ACO)

    An accountable care organization (ACO) is an association of hospitals, healthcare providers and insurers in which all parties voluntarily assume financial and medical responsibility for Medicare patients.

  • F

    fee-for-service (FFS)

    Fee-for-service (FFS) is a payment model in which doctors, hospitals, and medical practices charge separately for each service they perform.

  • M

    MACRA (Medicare Access and CHIP Reauthorization Act of 2015)

    MACRA (Medicare Access and CHIP Reauthorization Act of 2015) is U.S. healthcare legislation that provides a new framework for reimbursing clinicians who successfully demonstrate value over volume in patient care.

  • V

    value-based healthcare

    Value-based healthcare, also known as value-based care, is a payment model that rewards healthcare providers for providing quality care to patients.

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