Excerpt: Since its inception in 1965, Medicare has been leading the way in providing affordable, quality coverage and care, playing a key role in the health and financial security of more than 63 million Americans. As the largest single purchaser of health care—with one in every five health care dollars paid by the program—Medicare serves as a transformative force in the United States. It plays a central role in the Biden Administration’s vision for the Centers for Medicare & Medicaid Services (CMS): to serve the public as a trusted partner and steward, dedicated to advancing health equity, expanding access to affordable coverage and care, and improving health outcomes.
Medicare drives care transformation in the health system. It advances innovative alternative payment models, including the largest value-based care program, the Medicare Shared Savings Program, through which participating providers have served 12.1 million people with Medicare and achieved high quality scores and net savings for four consecutive years. Medicare also leverages public-private partnership through the Medicare Advantage program. Our claims processing systems have enabled Medicare to become one of the most reliable health insurance payers in the world. During the COVID-19 Public Health Emergency (PHE), our emergency waivers and policies enabled people to access care from their homes, helped providers to stabilize care delivery, and saved countless lives.
Read the full blog at Health Affairs.
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