Despite the California bundled payment program's failure to meet its cost-savings goals, providers continue to push forward with the new payment model. CMS announced that approximately 4,100 new providers will test out Medicare bundled payment contracts, according to a JDSUPRA Business Advisor report.
These more than 4,000 providers will join 2,400 providers already testing out the payment model under the Affordable Care Act's Bundled Payments for Care Improvement initiative.
There are currently four different models under the umbrella of the initiative. Providers are expected to cuts costs by 2 percent to 3.5 percent to reap the program's rewards.
Though the California pilot program yielded subpar results, bundled payments are unlikely to fall by the wayside. Providers participating in the CMS program will report back on the success of various models. How bundled payments are administrated may change dramatically over time, but the concept is just beginning to gain steam.
More Articles on Coding and Billing:
9 statistics on ASC accounts receivable
Billing best practices dashboard: 11 metrics to know
Is A/R a misunderstood metric?
These more than 4,000 providers will join 2,400 providers already testing out the payment model under the Affordable Care Act's Bundled Payments for Care Improvement initiative.
There are currently four different models under the umbrella of the initiative. Providers are expected to cuts costs by 2 percent to 3.5 percent to reap the program's rewards.
Though the California pilot program yielded subpar results, bundled payments are unlikely to fall by the wayside. Providers participating in the CMS program will report back on the success of various models. How bundled payments are administrated may change dramatically over time, but the concept is just beginning to gain steam.
More Articles on Coding and Billing:
9 statistics on ASC accounts receivable
Billing best practices dashboard: 11 metrics to know
Is A/R a misunderstood metric?