What’s In YOUR Bundle?
Bundled payments have the potential to revamp our healthcare system and are currently receiving a tremendous amount of attention in the healthcare world and media. The Centers for Medicare and Medicaid (CMS) has shown strong interest and support of bundled payments because they have the potential to. Improving patient outcomes and reducing costs are two important objectives because CMS has rapidly depleting funds and an older population that is growing exponentially.
Joint surgery is one of the most common Medicare billed surgeries. Bundled Payment for Care Improvement (BPCI) and Comprehensive Care for Joint Replacement (CJR) are two CMS bundled payments programs that have the potential to cover over half of all Medicare patients that receive a total joint surgery -- about 250,000 beneficiaries annually. The opportunities to improve population health and reduce costs have never been greater.
The Basics Of Bundled Payments
Bundled payment terminology is broad and frequently describes multiple care models and financial arrangements.
By definition, a bundled payment links multiple provider payments into one care management and payment system during a specific episode of patient care during a defined period of time.
But what’s included in these bundles? And more importantly, what’s in your bundle?
Next: 5 Questions To Ask About Bundled Payments