The CMS announcement of a second enrollment window this April for the BPCI Advanced program brings a new opportunity, and last chance, for providers to participate in the program and get ahead of payment reform. For providers considering joining, the important first step to take toward BPCI Advanced is to secure the option to participate. The non-binding application process allows providers to acknowledge their interest, receive valuable CMS data, and evaluate the potential for success.
So, why submit a non-binding application to Cohort 2?
Buy yourself some time
With CMS’s non-binding application, you can ‘raise your hand’ and secure your option to participate without any commitments. Applying by the open enrollment deadline, in effect, buys you five more months to decide whether the program is right for your organization. You’ll have until November 1 to officially lock in and submit a final participation decision to CMS.
Get your data risk-free
In exchange for your application and interest in the program, CMS will give you your latest cost and quality data to help you evaluate how effective the program will be for you. Between June and November, Archway Analytics can help you dig into your data the right way to find meaningful insights, whether you choose to participate or not.
Join on your own terms
CMMI wants 100% of providers participating in upside and downside risk arrangements by 2025, and has announced plans to introduce four new mandatory models, including a radiation oncology bundle. CMS has said that this open window will be the last for BPCI Advanced, which means Cohort 2 may be your last chance to participate voluntarily in an alternative payment model. Now is the time to experiment and learn how to manage two-sided risk models before they become mandatory.
Applying to BPCI Advanced may feel like a daunting decision, but now is a good time to make the move and begin evaluating how to make an alternative payment model work for your practice. We’re here to help you understand your opportunities and make the right decision for your organization.
If you’re considering applying to BPCI Advanced, take a look at your historical data first with a BPCI Advanced Scorecard.