Horizon Blue Cross Blue Shield of New Jersey awarded 51 medical practices with $3 million in bonuses for maintaining patient health and avoiding unnecessary tests and hospital readmissions, according to nj.com.
Here are four highlights:
1. In 2014, the payer started awarding bonuses and paying the full reimbursement rate for nearly 8,400 patients who underwent hip and knee replacements, knee arthroscopies, colonoscopies and pregnancies.
2. After analyzing the patient's status and their treatment costs, Horizon shared a portion of the savings with the physician who managed the patients.
3. In New Jersey, the caesarean-section rate is nearly 40 percent, the highest in the nation. Therefore, Horizon awarded OB/GYN practices that avoided performing unnecessary caesarean-section deliveries.
4. The model facilitates collaboration between physician and patients to promote quality care while reducing costs.
More articles on coding & billing:
The Wyoming Department of Health may study option allowing residents to join state insurance — 5 observations
California Legislature to approve tax on healthcare plans — 5 insights
Indiana expands Medicaid, sees more insured patients: 5 points