Archway’s chief analytics officer, Mah-J Soobader, PhD, recently presented at the Association of Community Cancer Centers (ACCC) 44th Annual Meeting and Cancer Center Business Summit in Washington D.C. Each year, the event brings together hundreds of cancer care professionals and thought leaders to explore innovative approaches for navigating the biggest challenges and opportunities in oncology.
As rising healthcare costs have caused industry-wide concern, an opportunity that has been brought to the forefront is developing better ways to pay for cancer care. Dr. Soobader spoke on a policy panel at ACCC, “Preparing for Commercial Bundles in Oncology.” The panel offered insights on successful strategies to simultaneously reduce the cost and improve the quality of cancer care.
Dr. Soobader provided a window into Archway’s process in collaborating with organizations to build successful commercial bundled payment programs. The major takeaway from Dr. Soobader’s presentation is that a clinically-informed, data-driven episode is the key to building an accurate, fair and profitable bundled payment program. Archway helps healthcare organizations gather their performance data and data of peers to determine where the opportunities lie for more efficient care. In finding and testing areas for improvement, providers are then able to negotiate their prices with payors.
For providers interested in building commercial bundle programs, Dr. Soobader advised, “The pathway to commercial is experimenting in Medicare programs, and experimenting successfully.” In other words, Archway recommends providers participate in either the Oncology Care Model (OCM) or Bundled Payments for Care Improvement (BPCI) Advanced Initiative to determine what works with some guidance from CMS before striking out on their own. Based on experience, Dr. Soobader recommends this approach as a way for organizations to identify key strategies required to be successful in bundled payment programs.
Whether you start with Medicare bundles or are developing your own commercial programs, data-driven insights will be the key to healthcare improvement and financial success in bundled payments. Talk to us about receiving and analyzing your own data to analyze your opportunity in bundles.