The Centers for Medicare & Medicaid Services announced Wednesday it will spend up to $1 billion to fund awards and evaluations of projects that test new payment and service delivery models designed to cut costs and improve patient care. As part of round two of the Health Care Innovation Awards, the government is looking for projects that will reduce costs in outpatient or post-acute settings, improve care for people with special needs, transform provider's financial and clinical models, or improve health conditions defined by geographic area, socioeconomic class and by clinical category. CMS will accept applications beginning June 1 until June 28. Announcement