Bundled Payments
"I had no idea what I was getting into or how much work bundled payment readiness is but I am so glad we are doing it."
"We have been trying to do standardized order sets for 8 years and now we are actually doing it."
"I feel like I am finally practicing nursing the way it should be practiced."
Hospitals with a strong cardiac or orthopedic programs may be well positioned to take on a "value based episodic care" arrangement with a payer - that is, to "bundle" the professional and technical payments into one payment to the hospital or sponsor for a single admission or "episode." Bundled payments can shift market share and add volume, resulting in lower costs per case and an increase in an organization's aggregate quality results. While CMS has piloted cardiac and orthopedic bundled payments, organizations across the country are beginning to pursue bundled payments directly with commercial payers as well. The benefits are significant, and the forward-thinking hospital will seize the opportunity - now.
Is your organization prepared for bundled payments - either through CMS or with commercial payers? What benefits can you expect from pursing bundled payments? What does it take to implement bundled payments?
We are uniquely experienced to help you assess, design, and implement bundled payments, as well as assist you in pursuing designation as a CMS pilot. The Camden Group's senior advisors are among only five groups in the nation who have had hands-on experience in winning selection as one of the initial CMS Acute Care Episode ("ACE") pilot projects, as well as implementing and successfully managing a cardiovascular service bundled payment organization. During the initial six months of operation, our team achieved the following compelling benefits for the bundled payment project:
"We have been trying to do standardized order sets for 8 years and now we are actually doing it."
"I feel like I am finally practicing nursing the way it should be practiced."
-Recent clients on bundled payments
Hospitals with a strong cardiac or orthopedic programs may be well positioned to take on a "value based episodic care" arrangement with a payer - that is, to "bundle" the professional and technical payments into one payment to the hospital or sponsor for a single admission or "episode." Bundled payments can shift market share and add volume, resulting in lower costs per case and an increase in an organization's aggregate quality results. While CMS has piloted cardiac and orthopedic bundled payments, organizations across the country are beginning to pursue bundled payments directly with commercial payers as well. The benefits are significant, and the forward-thinking hospital will seize the opportunity - now.
Is your organization prepared for bundled payments - either through CMS or with commercial payers? What benefits can you expect from pursing bundled payments? What does it take to implement bundled payments?
We are uniquely experienced to help you assess, design, and implement bundled payments, as well as assist you in pursuing designation as a CMS pilot. The Camden Group's senior advisors are among only five groups in the nation who have had hands-on experience in winning selection as one of the initial CMS Acute Care Episode ("ACE") pilot projects, as well as implementing and successfully managing a cardiovascular service bundled payment organization. During the initial six months of operation, our team achieved the following compelling benefits for the bundled payment project:
- 5 to 10 percent reduction in cost per case
- 10 percent operational efficiency improvement
- 1 to 2 new cardiovascular surgery cases per day
- Breakthrough clinical performance and adherence to best in class care protocols
- Educational sessions with the medical staff and other key constituents
- In-depth assessment of the organization's current status and readiness to implement bundled payment in one or more service lines
- Identification of necessary organizational improvements to successfully implement and operate in a bundled payment environment
- Blueprint for success - tactics necessary to achieve success
- Best-in-class evidence-based care delivery models and protocols
- Coaching of service line and physician leaders specific to on-going operation of a bundled payment program
- Impact analysis (utilization and financial)
Additional Reading
- "Bundled Payments Revisited: 10 New Critical Success Factors" by Deirdre Baggot, MBA, MSN, RN, Robert Minkin, MBA, and Jessica Jarnot, MBA
- “Bundled Payment: What It Is, Why It’s Important, and How to Prepare” by Guy Masters, MPA and Deirdre Baggot, MBA, MSN, RN, published by The Governance Institute (please contact us for reprints)
- “Unbundling the Task of Bundling” by Deirdre Baggot, MBA, MSN, RN, published by Payers & Providers
- “Bundled Payments: Ten Critical Success Factors” by Deirdre Baggot, MBA, MSN, RN
- “Demonstrating Value Through Bundled Payments” by Mark Dubow and Robert Minkin, MBA
- “The New Competitive Edge: Insights on Bundling From the Front Line” by Robert Minkin, MBA
- “Insights into Pursuing Bundled Payment” - HFMA’s Strategic Financial Planning Newsletter featuring an interview with Robert Minkin,MBA and Mark Dubow, MSPH, MBA of The Camden Group
