The program will provide financial incentives to hospitals, physicians and clinics for meeting certain efficiency and quality measurements. As part of the model, providers will continue to be paid on the traditional “fee-for-service” mode, but over time, the agreement is focused less on guaranteed rate increases and more on incentive payments tied to measurable improvements in quality and to reductions. Specifics of the agreement vary by system, according to the release.
A BCBS spokesperson said the insurer is moving to implement aspects of the new model in all of its provider relationships.
Although the agreement sounds similar to an accountable care agreement, the groups stopped short of giving the agreement the “ACO” label.
Read the release on BCBS of Minnesota’s shared savings program.
Read more coverage on shared savings:
– Start With a Targeted Accountable Care Arrangement Before Jumping Into an ACO
– 8 Things to Know About Medicare’s Bundled Payment Pilot
– More Than Half of Healthcare Leaders See Shared Savings as Very Effective Strategy for ACOs
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.
