s an alternative payment model, bundled payments hold the potential to improve the value of care by holding clinicians and organizations accountable for episode-specific quality and costs. Medicare has scaled bundled payments nationwide via several programs that define episodes based on hospitalization and up to 90 days of post-acute care. However, the impact of bundled…
The first cohort of accountable care organizations (ACOs) in the Next Generation model generated net savings to Medicare of approximately $62 million while maintaining quality of care for beneficiaries for the 2016 performance year, according to a new evaluation report released by the Centers for Medicare & Medicaid Services (CMS). The report was prepared by…
Next Generation Accountable Care Organizations (ACO) saved the Medicare program $62 million during their first year of operation in 2016, encouraging CMS to expand downside risk models across Medicare. Next Generation ACOs accept the highest risk of any current CMS accountable care programs, which emphasizes the achievement of reducing costs while maintaining high quality of…
As healthcare professionals continue to focus on patient engagement, they face an onslaught of varying and often confusing terminology. Between phrases that sound the same and phrases that sound like they should mean the same thing, it is easy to get caught up in the vast web of patient engagement keywords. What is patient engagement,…
Healthcare has been slowly but surely shifting from fee-for-service reimbursement models toward value-based care. In 2015, HHS announced a goal of having 50 percent of Medicare payments tied to quality or value through alternative payment models. While movement has been made toward that goal, we are not there yet. “Today, there are any number of…
After Columbus (Neb.) Community Hospital staff networked with area healthcare providers, pharmacists, assisted living and nursing home facilities, the hospital reduced 30-day readmissions by about 42 percent from October 2016 to May 2018, the Columbus Telegram reports. The Nebraska Hospital Association recently recognized the 47-bed hospital for its efforts to improve patient care, including its…
Building strong patient loyalty has become a key goal in an increasingly competitive healthcare industry. In order to survive amongst the numerous healthcare options on the market, healthcare organizations need to become patients’ trusted partners and their go-to confidante when they fall ill. That much has always been clear, according to Robert Braithwaite, the CEO…
Health care consumers are being forced to assume a greater share of costs for treatment. But how can patients determine the value of health care services if they can’t compare costs? Lack of price transparency is a major obstacle to value-based medical decisions. In evaluating treatment options or services by different providers, consumers have no…
Accountable care organizations (ACOs) cannot, and should not, hide from downside risk. Despite the ongoing kerfuffle between CMS’s (Centers for Medicare and Medicaid Services) push for downside risk and the threat of mass exodus by early ACO adopters, downside risk is proving fruitful and gaining momentum. Admittedly, ACOs have legitimate reasons for hesitating. In addition…
It is crucial for ACOs to assist physician members with mitigating risk and driving down costs to enhance patient safety and improve clinical and financial outcomes in the private practice of medicine. There are many ways physicians can drive down medical malpractice costs, they just need to know the right questions to ask! Before applying…