Curbing Healthcare Costs Through Bundled Payments

An article by Archway Health Founder & CEO Dave Terry titled “Curbing Healthcare Costs Through Bundled Payments” was recently published on the Healthcare Financial Management Association (HFMA) blog. "With a new president and Republican-led congress, a dramatic change to the healthcare landscape is imminent. Whether the Affordable Care Act is repealed entirely or drastically reshaped, the reality is that the cost of health care is a real issue that must be addressed," Dave says.

He says that a basic problem with many current health plan solutions is that they generally combine primary care access, true insurance, and specialty care access into a single complex product. This approach does not meet the unique needs of many people who would be better served with a more customized health care approach that is possible when these three elements are handled individually. Bundled payments provide a way to lower costs and improve quality of care for specialty services.

At the conclusion of the article, Dave recommends several steps forward for healthcare administrators and executives:

  • Follow Medicare’s lead and increase the adoption of specialty bundled payment programs into the commercial health insurance market.
  • Expand the number of specialists and health systems that can participate in a bundled payment contract.
  • Work collaboratively to introduce innovations in coverage.
  • Empower patients to make informed decisions.
  • Conduct a bundled payment readiness assessment.

Read the full article here: https://www.hfma.org/Content.aspx?id=52169

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