Deadline Today for $1B CMS Innovation Challenge

Letters of intent to take part in the CMS Innovation Center's Health Care Innovation Challenge, which promises up to $1 billion for new ideas that improve care, shift incentives and help train a newly-focused healthcare workforce, are due today.

CMS announced the contest, which is aimed at lowering costs for people enrolled in Medicare, Medicaid and CHIP, especially those with the highest health care needs, in November.

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See also: HHS launches $1B innovation initiative

Anyone wishing to take part in the Health Care Innovation Challenge must first submit a non-binding letter of intent — meant to help CMS determine the expertise and personnel necessary to appropriately review applications and issue awards. Letters are due by 11:59 p.m. Eastern Time on Monday, December 19. Failure to submit one will disqualify the application from that organization from being reviewed during the first round of funding.

On a webinar this past Friday, CMS officials highlighted how the initiative is helping "rubber hit the road" when it comes to health reform, seeking out new and creative ways to design care models and train the health workforce.

The grant funding — with potential awards ranging from $1 million to $30 million is meant to spur creativity as individuals and group "do the hard work" of changing healthcare.

Read the full announcement a:http://healthcareitnews.com/news/deadline-today-1b-cms-innovation-challenge

Source: Healthcare IT News