CMS began accepting applications Feb. 21 for its Bundled Payments for Care Improvement Advanced model.
Through May 31, acute care hospitals, physician groups and Medicare ACOs can apply to participate in the value-based program for two years beginning in January.
CMS launched the program in 2018 to test whether bundling Medicare payments for certain services reduces spending and improves quality. Last year, the agency outlined its plan to extend the program through 2025.
According to the American Hospital Association, the extension will adjust the payment methodology to balance Medicare savings with incentives for model participation; require new convener participants to be Medicare providers, suppliers or ACOs; and provide additional technical assistance.
Current participants can sign an amended participation agreement to continue to participate in the two-year extension.