During this Nov. 5, 2013, Forum webinar, four speakers shared their experiences implementing bundled payments and shared how the payment model can increase quality outcomes, reduce cost, minimize financial risk, and attract volume. Here are two key takeaways from the discussion:
Analyze volume. To gauge the viability of bundled payment in your organization, determine whether there is enough demand in your market for certain bundled payment procedures. That way the volume of patients receiving those procedures will offset any revenue lost as a result of the bundled payment discount, said Dave Jackson, senior consulting manager, payment reform services, Truven Health Analytics, Ann Arbor, Mich.
Recognize market limitations. In some sectors of the healthcare industry, capacity for managing bundled payment is limited. For example, some payers are processing bundled payments on paper because their systems aren’t ready to accept the new payment model. As a result, providers should be ready for a slower payment cycle, said Margaret Kornuszko-Story, health systems scientist, Lehigh Valley Health Network, Allentown, Pa.
Learn more by accessing the event:
NOTE: CPE credits are only available to Forum members who attended the live webinar on Nov. 5, 2013.