25 Aug The Task Force Joins Coalition Letter Urging Congress to Include the Value Act in Upcoming Reconciliation Bill
The Health Care Transformation Task Force joined a coalition of organizations in urging Chairman Wyden and Chairman Neal to include the Value in Health Care Act of 2021 (H.R. 4587) in the Reconciliation bill for the FY 2022 Budget Resolution.
The Value in Health Care Act of 2021 makes a number of important reforms to strengthen Medicare’s value-based care models and ensure that these initiatives continue to produce high quality care for the Medicare program and its beneficiaries as well as generate savings to taxpayers. With estimates showing less than 40 percent of health care dollars tied to value-based payment and goals to increase that percentage moving forward, the value-based care movement is at a critical juncture.
Independent analysis estimates that this legislation would save the Medicare Trust Fund $280 million over 10 years, further strengthen alternative payment models (APMs), and ensure their continued success. The organizations who signed on to this letter are pleased that the bill removes barriers to APM participation, increases shared savings rates, modifies risk adjustment methodologies, improves the fairness and accuracy of benchmarks, and provides educational and technical support for ACOs in the Medicare Shared Savings Program. The bill also takes important steps to reinforce the transition to value through extending and modifying the Advanced APM bonuses payments put in place my MACRA and addressing aspects of APM overlap. The legislation also directs HHS to study of the impact of value-based care on health equity.