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Partnering with private consulting firms could prompt hospitals to participate in a greater number of episodes in a federal bundled payments program, according to new research.
The voluntary Bundled Payments for Care Improvement initiative Advanced Model, or BPCI Advanced, compares spending for specific clinical episodes, like congestive heart failure or sepsis, with benchmarks set by the Centers for Medicare & Medicaid Services. Hospitals take on financial risk in the program — if spending is less than the benchmark for a clinical episode, hospitals earn a reward; but if spending is more, hospitals pay a penalty.