Bundled care payments cover 100 percent of the cost of an episode of care, from pre-surgery screenings and travel to surgery and rehabilitation. Companies often partner with third parties to negotiate bundles directly with healthcare systems.
Below is a list of five benefits to bundled payments.
- Third parties have a rigorous selection process for healthcare systems and hospitals in their network that assures a high level of quality.
- Pre-set rates for services are competitive because they are negotiated directly between providers and the third party bundled payment services. Hospitals often negotiate lower rates because of the expanded access they gain to a national patient base via these programs.
- A thorough pre-surgery screen process eliminates unnecessary surgeries and their costs, and instead establishes alternative care plans.
- The carefully planned services have led to much better patient outcomes and patient satisfaction rates.
- The plans emphasize standardized services and incentivize providers to follow stricter care plans that cut down on unnecessary costs.
More Articles on Finance:
7 healthcare organizations adding jobs
85% of American CEOs are promoted from within
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.