After months of waiting, the Centers for Medicare & Medicaid Services (CMS) officially announced its next generation of bundled payments on January 9, 2018: BPCI Advanced. And, just a few days later, on January 11, open enrollment began for the agency’s most innovative bundled payment program yet.
Now, many providers are left asking, “Is BPCI Advanced right for me?”
With less than two months before open enrollment closes, and critical details still to come, the important first step providers can take toward BPCI Advanced is to secure their option to participate. With CMS’ non-binding application process, providers can, in effect, ‘raise their hands’ for participation by submitting some basic information to CMS by the March 12th deadline.
So, why secure your option to participate now?
- Power to decide: Engaging CMS now gives you the power to decide later. Submitting a non-binding application allows you to receive your cost and quality data and target prices to evaluate if the program is right for you. Once open enrollment closes, there will be no other opportunities to participate in BPCI Advanced until 2020.
- Revenue to gain: Practices working with Archway Health in the first generation of BPCI generated as much as $3,000 in additional revenue per episode of care. Participation in BPCI Advanced will also allow providers to earn bonuses under MACRA’s Advanced APM track and avoid downside risk under MIPS.
- Nothing to lose: Keeping your options open for participation in BPCI Advanced does not bind you to participation. It lets the agency know you that you are considering the program. The binding contract is not due until August.
We’re making it sound simple, but in reality, getting started with BPCI Advanced isn’t easy. That’s why we’re offering practices to partner with us. We’re a BPCI convener, and you can simply sign our non-binding Good Faith Agreement, and we’ll handle the application process and data processing for you. We’ll help you apply for and evaluate the program in a free, unbiased manner. There’s no pressure to commit to us, or CMS, now, but we want to help you keep your options open.
When you sign our Good Faith Agreement, you’ll gain access to Archway Academy, our online education platform offering tools and tips to succeed in BPCI Advanced. Archway Academy will help you decide if BPCI Advanced is right for you. Archway will also be offering weekly webinars to provide updates on BPCI Advanced as more information is released, as well as to talk more about the Academy. Sign up for our next webinar on Thursday, January 18 at 2:30 p.m. EST.
Take the first step now, and secure your option to participate in BPCI Advanced. Contact us today for assistance with beginning the BPCI Advanced application process.