Wellmark Blue Cross and Blue Shield announced this morning that it has reached an agreement with Genesis Health System in Davenport to create an accountable care organization (ACO).
The ACO, which will focus on coordinating patient care in an effort to improve quality and lower costs, will be the first such organization in the Quad Cities, according to a Wellmark release. Genesis provides health-care services in a 12-county region of Eastern Iowa and Western Illinois. In April, Wellmark announced similar ACO agreements with Iowa Health System and Mercy Medical Center - Des Moines.
Under the agreements, Wellmark will offer the providers financial rewards if they reach established quality goals and slow the rate in increase in health-care spending in caring for their patients.
At the same time, providers will not earn a financial incentive if their quality declines or their costs run higher than expected.