Coral Gables, Fla.-based Baptist Health is shaking up healthcare billing by taking the lead in payment bundling and setting prices for care prior to services rendered, according to Miami Today.
The private healthcare provider is responding to provisions in the federal Affordable Care and Patient Protection Act, which calls for cost bundling in Medicare billing by 2014.
Baptist Health has already negotiated bundled payments with Florida Blue, formerly Blue Cross Blue Shield of Florida, and plans to make similar contracts with other private payors.
President and CEO Brian Keeley described the bundling effort as fixing a "fundamental flaw" in healthcare billing where "the incentive is to do more in providing care when less might suffice," he said.
Mr. Keeley hopes the new pricing will make Baptist more cost competitive and bring savings to his organization.
More Articles on Coding, Billing & Collections:
Jackson Health System to Consider Outsourcing Billing, Collections
4 Tips to Avoid Problem Areas for EHR Auditing
Aetna Disputes Hospital's Higher Rate Bills
The private healthcare provider is responding to provisions in the federal Affordable Care and Patient Protection Act, which calls for cost bundling in Medicare billing by 2014.
Baptist Health has already negotiated bundled payments with Florida Blue, formerly Blue Cross Blue Shield of Florida, and plans to make similar contracts with other private payors.
President and CEO Brian Keeley described the bundling effort as fixing a "fundamental flaw" in healthcare billing where "the incentive is to do more in providing care when less might suffice," he said.
Mr. Keeley hopes the new pricing will make Baptist more cost competitive and bring savings to his organization.
More Articles on Coding, Billing & Collections:
Jackson Health System to Consider Outsourcing Billing, Collections
4 Tips to Avoid Problem Areas for EHR Auditing
Aetna Disputes Hospital's Higher Rate Bills