Center for Medicare and Medicaid Innovation announces $1billion initiative

The Center for Medicare and Medicaid Innovation has announced that it will award up $1 billion in grants to applicants who propose the most compelling new ideas to deliver better health, improved care and lower costs to people enrolled in Medicare, Medicaid and CHIP, particularly those with the highest health care needs, according to their website.

The website states that awards will range from approximately $1 million to $30 million for a three-year period.  Applications are open to providers, payers, local government, public-private partnerships and multi-payer collaboratives. Applicants must submit a letter of intent by December 19, 2011, and the actual application is due on January 27, 2012.

(Sources: AHA News Now, http://ahanews.com, November 14, 2011; The Center for Medicare and Medicaid Innovation, http://www.innovation.cms.gov, November 2011)