Bundled Pay Management Statistics

Bundled Pay Management Statistics 2023: Facts about Bundled Pay Management outlines the context of what’s happening in the tech world.

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Top Bundled Pay Management Statistics 2023

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Bundled Pay Management “Latest” Statistics

• By 2016, alternative payment methods have replaced fee-for-service models for 30% of conventional medicare payments.^[1]
• According to HHS, a value-based alternative payment model accounted for 20% of Medicare payments in 2015.^[2]
• HHS noted that value-based payment models had reduced hospital readmissions among medicare users by 8% and that ACO programs had saved medicare 417 million.^[2]
• By the end of 2020, the Department of Health and Human Services aims to convert 30% of medicare fee-for-service payments to models.^[2]
• Data reveals that as of 2019, just 38.2% of healthcare spending was made using a value.^[2]
• Family carers get financial assistance via ongoing payment of up to 50% of care expenses as a distinct public benefit.^[3]
• 10% of the population had health insurance, giving them the right to cash payments in the event of sickness (up to 50% of income for a maximum of 13 weeks).^[3]
• On average, general pay contributions of 14.6% and a designated extra contribution of 1% of earnings, which are made by both employers and employees, are used to establish sickness funds.^[3]
• While employers and workers have participated in the general payment of 14.6% since 2015, only employees are responsible for paying the supplemental contribution.^[3]

Bundled Pay Management “Other” Statistics

• Medicare expenditure decreased by 4% as a result of a difference in different studies of the connections of BPCI for LEJR, according to a pre-post analysis of BPCI for LEJR in one health system, which attracted a lot of media attention.^[1]
• Over 11 million Medicare beneficiaries were serviced by 500 MSSP ACOs in 2020, accounting for 20% of all participants.^[4]
• The percentage of MSSP ACOs that seem to be taking on negative risk in 2021 is 41%, although there are more program participants and beneficiaries overall.^[4]
• In the BPCI Advanced program’s first performance year (2018-2019), 22% of eligible hospitals and 23% of eligible doctors engaged, and the program paid for 16% of possible episodes.^[4]
• The Institute of Medicine (IOM) projected that in 2009, almost $750 billion worth of U.S. health spending, both public and private, was wasted.^[5]
• Over 90% of hospitals have approved EHR technology, according to the Office of the National Coordinator for Health Information Technology.^[2]
• Another PCMH with a location in Maryland claimed to have saved $98 million and improved its quality ratings by 10% in a single year.^[2]
• A PCMH in Colorado reported a 15% drop in ER visits, an 18% drop in inpatient admissions, and a $4.50 return on investment for every dollar invested.^[2]
• Sickness funds provide primary insurance to around 88% of the population, and private insurance to 11%.^[3]
• 86% of people in Germany have statutory health insurance, which covers prescription drugs and inpatient and outpatient mental health care.^[3]

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How Useful is Bundled Pay Management

One of the key benefits of bundled pay management is its ability to align incentives among different healthcare providers involved in a patient’s care. Rather than billing for each individual service provided, bundled payments encourage collaboration and coordination among providers to deliver high-quality care at a lower cost. This can lead to better care coordination, reduced duplication of services, and improved patient outcomes.

Furthermore, bundled payments can also provide healthcare organizations with greater financial predictability and stability. By receiving a fixed payment for a specific episode of care, providers can better manage their finances and resources. This can help reduce the financial uncertainty associated with fee-for-service payment models and allow providers to focus on delivering value-based care.

In addition, bundled pay management can also promote greater accountability and transparency in healthcare delivery. With a bundled payment model, providers are responsible for the entire episode of care, including any complications or readmissions that may arise. This can incentivize providers to deliver high-quality care and effectively manage patient outcomes.

However, despite its potential benefits, bundled pay management may not be suitable for all healthcare settings or specialties. Some providers may have concerns about assuming financial risk for an entire episode of care, especially for complex or high-risk patients. In these cases, providers may be wary of participating in bundled payment arrangements and prefer traditional fee-for-service models.

Furthermore, implementing bundled pay management can be complex and challenging for healthcare organizations. Integrating different providers, tracking outcomes, and managing variations in care delivery can all present significant logistical and administrative hurdles. Additionally, providers may need to invest in new technology, care coordination processes, and performance metrics to effectively implement bundled payment models.

Moreover, the success of bundled pay management may also depend on adequate risk adjustment and stratification methodologies. Without accurate risk adjustment mechanisms, providers may be unfairly penalized for treating sicker or higher-risk patients. Developing robust risk adjustment tools and methodologies will be crucial for ensuring the effectiveness and fairness of bundled payment arrangements.

In conclusion, bundled pay management holds promise as a valuable tool for improving healthcare delivery, reducing costs, and enhancing patient outcomes. While it may not be suitable for all healthcare settings or specialties, bundled payment models have the potential to drive improvements in care coordination, financial predictability, accountability, and transparency. However, successful implementation of bundled pay management will require careful planning, collaboration, and investment from healthcare organizations.

Reference

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1. jamanetwork – https://jamanetwork.com/journals/jama/fullarticle/2698927
2. revcycleintelligence – https://revcycleintelligence.com/features/what-is-value-based-care-what-it-means-for-providers
3. commonwealthfund – https://www.commonwealthfund.org/international-health-policy-center/countries/germany
4. upenn – https://ldi.upenn.edu/our-work/research-updates/the-future-of-value-based-payment-a-road-map-to-2030/
5. hhs – https://oig.hhs.gov/fraud/grant/top-management-performance-challenges/management-challenge-2-transitioning-to-value-based-payments-for-health-care/