Betting on Bundled PaymentMany are wagering that bundled payment will help reduce healthcare costs and improve quality. A Leadership infographic details the research to date on the effectiveness of bundled payment and shares three risk strategies for providers that engage in this new payment approach.
Methodist Le Bonheur Healthcare, in Memphis, Tenn., partners with the Congregational Health Network, a group of 500 churches and other faith-based organizations throughout the region to address the socially complex issues that drive residents to seek out emergency departments for routine care.
Their efforts are paying off: Residents served by the network have 20 percent fewer readmissions and half the crude mortality rate, compared with non-network patients. Their median time for readmission is 120 days less for all diagnosis-related groups, compared with the total population. And the health system has saved about $4 million a year, or about $8,000 per capita, in charity care write-offs.
Rising to the Challenge
nurses, and other clinicians are in prime positions to distinguish between the
elements of health care that benefit patients and those that are wasteful and
potentially dangerous, says Donald Berwick
MD, former CMS administrator and healthcare quality improvement expert.
“Just like hospitals
are being forced more and more to think about business models that are not
volume-based, so physicians have to think about their roles in the larger
system—teamwork, exchange of information, and how to be a leader in cost
reduction without harming patients,” Berwick says.
Team Approach Builds Diagnostic Imaging Volume
Two Houston-area hospitals used similar strategies to revive their declining diagnostic imaging businesses. Believing that their hospitals had a quality edge over the competition, they set out to turn the hospitals’ imaging departments back into providers-of-choice for patients. Strategies included close communication with local physicians’ offices on the availability of same-day appointments and quicker turnaround times on radiology results.
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J.P. Morgan: Managing Cybersecurity and Protecting Patient Data
Brian DiPietro, Managing Director, Commercial Bank Technology, JPMorgan Chase & Co., discusses the importance of evaluating your cybersecurity protocols to help prevent malicious data breaches.
TransUnion Healthcare: Smarter Revenue Cycle Solutions
Gerry McCarthy, President of TransUnion Healthcare, discusses industry trends contributing to higher bad debt and what to do about them. Gerry is responsible for the strategic direction of the healthcare business and expanding its footprint in the healthcare market overall. He has more than 20 years of experience in healthcare information technologies.
Deloitte: Creating Value with Effective Care Management
Scott Kolesar, principal and senior leader in Deloitte Consulting LLP's Value Based Care practice, and David Wennberg, MD, MPH, adjunct associate professor of The Dartmouth Institute and former chief executive officer, Northern New England Accountable Care Collaborative, discuss the challenges and competencies involved in creating a care management organization.
American Express: Streamlining Supplier Payments and Boosting Revenue
Andrew Jamison, vice president in the Global Corporate Payments division of American Express, discusses trends and opportunities in supplier payments.
Deloitte: Realizing the Potential of Your CDI Program
Suzanne Whitworth, director at Deloitte & Touche LLP, and LaVerne Romberger, MSN, CCM, CCDS, clinical operations manager-Seton Healthcare, share leading practices for maximizing the potential of clinical documentation programs under value-based care.
RevSpring: Customizing a Technology Platform to Drive Patient Payment
Martin Callahan, Senior Vice President, Healthcare Solutions, RevSpring, describes key industry trends affecting how patients engage with the revenue cycle and ways payment processes are changing as a result.