Medtronic 2015 Annual Report Download - page 5
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Please find page 5 of the 2015 Medtronic annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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As an example, in January 2015, the U.S. Health and Human Services (HHS) set a goal of tying 30 percent of traditional, or fee-
for-service, Medicare payments to quality or value through alternative payment models, such as Accountable Care
Organizations (ACOs) or bundled payment arrangements by the end of 2016, and tying 50 percent of payments to these models
by the end of 2018. HHS also set a goal of tying 85 percent of ALL traditional Medicare payments to quality or value by 2016
and 90 percent by 2018. This is the first time in the history of the Medicare program that HHS has set explicit goals for
alternative payment models and value based payments.
Leading players in the industry are architecting and experimenting with these new value based models today. Medtronic has
established an early leadership role in this endeavor, and we are committed to making the necessary adjustments to our existing
businesses, as well as investing and creating new services and business models that will position us to win in this new value
based era. This is the transformation of Medtronic – to leverage our expertise and scale at a level no other company can to
improve healthcare outcomes and economics.
Overall, as I begin my fifth year as the CEO of Medtronic, I remain grateful, excited, and humbled by the opportunity to lead
this great company. I could not be more enthusiastic about our future as we strive to fulfill the enduring Medtronic Mission
every day. I want to thank you for your ownership, trust, and support as we continue to realize the significant opportunities in
healthcare.
Omar Ishrak
Chairman and Chief Executive Officer