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
☰ Use “CTRL+F” to quickly find statistics. There are total 19 Bundled Pay Management Statistics on this page 🙂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
Proponents of bundled payment management argue that it promotes accountability by linking payment to outcomes rather than the volume of services provided. By encouraging providers to work together to deliver the most cost-effective care, bundled payments have the potential to incentivize better coordination and integration of services.
Furthermore, bundled payment management can also help drive efficiencies in healthcare delivery by reducing administrative costs and eliminating fee-for-service incentives that can lead to unnecessary tests and procedures. This can result in overall savings for both patients and payers, particularly in the case of chronic conditions or complex procedures that involve multiple providers and services.
However, while the concept of bundled payment management is promising, its implementation is not without challenges. One of the primary concerns is the potential for underpayment, as the fixed payment amount may not always accurately reflect the true cost of care for a particular patient. This could create financial strains for providers, particularly those who care for sicker patients or individuals with significant comorbidities.
Additionally, there is also the risk of provider selection bias, where providers may be incentivized to cherry-pick healthier patients or avoid high-risk cases in order to maximize profits. This could lead to disparities in care and undermine the goal of improving overall quality and outcomes.
Another potential drawback of bundled payment management is the lack of flexibility it offers in responding to unexpected complications or variations in patient needs. Providers may feel pressured to adhere strictly to predetermined care protocols, even if it may not be in the best interest of the individual patient. This could lead to suboptimal care and decreased patient satisfaction.
In conclusion, bundled payment management has the potential to be a powerful tool for transforming healthcare delivery by aligning incentives and improving coordination and efficiency. However, it is crucial to carefully consider the implications and challenges associated with its implementation in order to ensure that it achieves its intended goals of delivering high-quality, cost-effective care for all patients. Only through thoughtful planning, collaboration, and ongoing evaluation can bundled payment management truly fulfill its promise as a valuable strategy for improving healthcare delivery.
Reference
- jamanetwork – https://jamanetwork.com/journals/jama/fullarticle/2698927
- revcycleintelligence – https://revcycleintelligence.com/features/what-is-value-based-care-what-it-means-for-providers
- commonwealthfund – https://www.commonwealthfund.org/international-health-policy-center/countries/germany
- upenn – https://ldi.upenn.edu/our-work/research-updates/the-future-of-value-based-payment-a-road-map-to-2030/
- hhs – https://oig.hhs.gov/fraud/grant/top-management-performance-challenges/management-challenge-2-transitioning-to-value-based-payments-for-health-care/