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Archway Health Selected by Franciscan Ministries to Manage CMS Bundled Payments for Care Improvement Program
Partnership to Aid in Setup, Design and Management of Bundled Payments
Watertown, MA, October 24, 2016 – Franciscan Ministries, a respected provider of independent and assisted living facilities and skilled nursing care, announced that it has partnered with Archway Health to manage the organization’s Bundled Payment for Care Improvement (BCPI) program. The Centers for Medicare & Medicaid Services’ (CMS) launched the BCPI program at the start of 2013 as a voluntary, alternate payment model that provides incentive for care providers to improve care coordination and quality at a lower cost. Franciscan Ministries operates more than 2,500 units of independent living, assisted living and skilled nursing care facilities along with memory support services in Illinois, Indiana and Ohio.
“Participation in the BCPI program presents an opportunity for our organization to focus our efforts on reducing costs and improving quality,” said John D. Glover, Chief Operating Officer of Franciscan Ministries. “As we look to continue our improvement of both resident and financial outcomes, having advanced analytics, easy-to- use technology and support from the subject matter experts at Archway will help us navigate the alternate payment model and meet our goals.”
As of this July, the national BCPI initiative has nearly 1,500 participants in the program. The BCPI program aims to increase value-based care through four bundled payment models, in which organizations enter into agreements that include financial and performance accountability for episodes of care.
Archway guides providers through every phase of implementation and management of BCPI with contract development, care model redesign, patient tracking tools, data dashboards and analytics, and compliance. In addition to BCPI, Archway supports the Oncology Care Model (OCM), Comprehensive Care for Joint Replacement (CJR) and Episode Payment Model (EPM) programs, as well as commercial payers that are pursuing bundled payment initiatives.
“For more than a century, families have entrusted the care of their loved ones to Franciscan Ministries,” said David P. Terry, Founder & CEO of Archway Health. “The decision to adopt an alternative payment model as a means to improve quality and reduce costs is a testament to Franciscan’s dedication to the families it serves, and we are proud to be a partner in these efforts.”
About Archway Health
Archway Health, founded in 2011 and built on a deep foundation of healthcare payment reform expertise, works with providers to design and execute care and risk management programs that drive success in bundled payment programs. Archway is currently working with leading healthcare providers participating in the CMS BPCI, CJR, and OCM programs, as well as with commercial payers operating bundled payment initiatives. To support these programs, Archway works with providers to analyze their opportunities and risks and to deploy its comprehensive platform of analytics, patient tracking tools, and advisory services to ensure their success in bundled payments. For more information, please visit www.archwayhealth.com.