The Centers for Medicare and Medicaid Innovation has launched its Innovation Challenge — a new initiative that will provide as much as $30 million to each of 100 applicants who present new ideas for healthcare delivery and payment models, according to the CMS website.
The challenge is meant to support applicants who will implement the most compelling new ideas to improve care and lower costs for Medicare, Medicaid and Children's Health Insurance Program.
In a blog post on the White House website, CMS Administrator Donald Berwick, MD, said the "initiative will invest up to $1 billion in the best projects that [physicians], hospitals, and other innovators propose to deliver high-quality medical care and save money. Projects that win this competition will use healthcare dollars more wisely, help create jobs, and help professionals improve the work they do for patients," according to the post.
Awards will range from approximately $1 million-$30 million for a three-year period. Providers, payors, local governments, public-private partnerships and multi-payor collaboratives can apply to participate. Potential applicants must submit a letter of intent by Dec. 19, 2011, in order to be eligible.
Dr. Berwick provided an example of innovation in his blog post, citing "the use of personal and home care aides to help the elderly stay in their homes or expanding the use of community-based paramedics to provide basic services to individuals in rural communities," as projects that can be up and running soon.
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The challenge is meant to support applicants who will implement the most compelling new ideas to improve care and lower costs for Medicare, Medicaid and Children's Health Insurance Program.
In a blog post on the White House website, CMS Administrator Donald Berwick, MD, said the "initiative will invest up to $1 billion in the best projects that [physicians], hospitals, and other innovators propose to deliver high-quality medical care and save money. Projects that win this competition will use healthcare dollars more wisely, help create jobs, and help professionals improve the work they do for patients," according to the post.
Awards will range from approximately $1 million-$30 million for a three-year period. Providers, payors, local governments, public-private partnerships and multi-payor collaboratives can apply to participate. Potential applicants must submit a letter of intent by Dec. 19, 2011, in order to be eligible.
Dr. Berwick provided an example of innovation in his blog post, citing "the use of personal and home care aides to help the elderly stay in their homes or expanding the use of community-based paramedics to provide basic services to individuals in rural communities," as projects that can be up and running soon.
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