The Obama administration on Wednesday announced a $1 billion initiative to fund innovations in federal healthcare programs aimed at cutting costs while improving the health results. The Department of Health and Human Services said the money will be used to award and evaluate projects that test new payment and delivery models for federal programs including Medicare, Medicaid and the Children's Health Insurance Program. The announcement marks the second round of innovation initiatives for the administration under President Barack Obama's 2010 Patient Protection and Affordable Care Act.
