At the recent Association of Community Cancer Centers (ACCC) National Oncology Conference in Nashville and the Community Oncology Alliance (COA) Payer Exchange Summit in Virginia, participants in the Centers for Medicare and Medicaid Services (CMS) Oncology Care Model (OCM) discussed the challenges of implementing such a program. Changes have significantly impacted practices’ organizational culture and staffing, among other areas. Since CMS announced the launch of OCM in 2015, oncology care practices have been working to implement and manage bundled payments to learn how to be more efficient and effective providers. While there has been significant learning along the way, some providers have just started discovering their performance. While challenges still remain, we feel that this voluntary OCM bundled payment program is a step in the right direction.
At Archway, we have identified key questions that we recommend all OCM participants consider to determine what is needed to transform their organization:
- How is my organization currently doing? What are my organization’s performance goals compared to our target expenditures?
- What are the key drivers of my organization’s performance? How does my organization compare to other practices?
- What can we change? What are the key drivers of savings and controlling costs? Where is there room for improvement?
Asking these questions is challenging. And some oncology care specialists will see this as a wakeup call as they realize they have limited data and analytics to provide answers. However, practices that operate without knowledge of their results are working blindly. And, the real answers to these questions will lead you to better care and increased savings.
By participating in the OCM bundled payment program, practices can realize opportunities for reducing cost of care and improving care delivery. Claims data is only valuable once it is transformed into actionable insights. To help OCM practices meaningfully analyze this data and manage a successful program, Archway has developed a proprietary online Oncology Care Analytics Suite™ platform. We help organizations tap into deep analytics to better understand performance results based on quarterly costs and trends, spending and claims details and more. Our SaaS-based tool is designed to evaluate and analyze the raw quarterly data delivered by CMS to help oncologists discover how their practice is performing on a clinical and financial level.
Oncology care practices that are participating in OCM are already on their way to achieving the significant impact of understanding the results of value-based payment initiatives. What is your practice waiting for?
Contact us for more information about how we can help your organization answer the three key questions above.