University of Pittsburgh Medical Center, a $10 billion integrated health enterprise, launched bundled payments for orthopedic procedures, according to Health Leaders Media.
Here are five facts:
1. UPMC launched the bundled payment plan in 2013 with hip and knee surgeries and has extended it to spine surgeries at the beginning of 2015.
2. The bundled payment initiative provides an incentive for physicians to provide high quality, high value care for patients.
3. The Centers for Medicare & Medicaid Services proposed a reimbursement model this month that would hold hospitals financially accountable for the quality of care they administer for inpatient knee and hip replacements for Medicare beneficiaries.
4. The model, the Comprehensive Care for Joint Replacement Model, is a bundled payment structure aimed to minimize cost, improve quality and care coordination between hospitals, physicians and post-acute care providers.
5. Medicare beneficiaries received 400,000 inpatient, first-time hip and knee replacement procedures in 2013 which costs approximately $7 billion solely for hospitalization.
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