Across the nation hospitals and physician groups are signing up for the bundled payment system BPCI Advanced. This is the Bundled Payment for Cair Initiative Advanced program which started as of October 1st. Health systems had to sign up for this voluntary program before August 8th in order to take part. Consultant Deirdre Baggot, who is a nationally-recognized expert on bundled payments, said that she rolled a BPCI Advanced program for Exempla St. Joseph Hospital. During her career, she has helped over 200 healthcare organizations put these types of payment plans in place.
By taking part in BPCI Advanced, Deirdre Baggot said that these organizations get basically six months as a trial period to test it out. She said that many healthcare providers are moving to value-based care and are willing to take on risk. In March these organizations who had signed up for BPCI Advanced will be able to drop it if it isn’t performing to their satisfaction, she said. Find out more about Baggot at Beckers Hospital Review
Deirdre Baggot says that it used to be a pretty hard sell to get healthcare organizations to sign on to a bundled payment plan. They can now compete on value, though, and the work they will need to do will extend well beyond Medicare. Getting onto a bundled payment plan requires the entire organization and culture of a health care provider to change. She says more organizations are willing to do this than she has ever seen before.
One reason healthcare providers are willing to take on this new form of payment is that they get a MACRA bonus of 5 percent. That bonus convinced many providers that they should be willing to change how they do business. The next challenge is getting patients on board with this new way of billing for medical services. One way of doing so is for healthcare providers to give them an iPad which they can take home and use to access healthcare services.